Tobam Sells 1,532 Shares of Cencora, Inc. (NYSE:COR)

Tobam lowered its stake in Cencora, Inc. (NYSE:COR) by 6.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,498 shares of the company’s stock after selling 1,532 shares during the period. Cencora makes up approximately 1.6% of Tobam’s investment portfolio, making the stock its 15th biggest position. Tobam’s holdings in Cencora were worth $5,280,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in Cencora by 3.8% during the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock valued at $1,810,970,000 after purchasing an additional 291,867 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Cencora by 7.0% during the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after buying an additional 338,452 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Cencora by 4.7% in the third quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock worth $941,183,000 after buying an additional 189,054 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Cencora by 6.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,204,242 shares of the company’s stock worth $495,249,000 after acquiring an additional 138,868 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in Cencora by 21.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock valued at $368,771,000 after acquiring an additional 292,600 shares during the period. 97.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on COR shares. Mizuho began coverage on Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price on the stock. UBS Group lifted their price objective on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Barclays upped their target price on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. boosted their price target on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Robert W. Baird raised their price objective on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $277.90.

Cencora Trading Down 2.8 %

Shares of NYSE:COR opened at $246.11 on Friday. The company has a market capitalization of $47.57 billion, a PE ratio of 32.77, a P/E/G ratio of 1.59 and a beta of 0.49. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $262.26. The business’s fifty day simple moving average is $239.08 and its 200-day simple moving average is $236.51.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 266.62% and a net margin of 0.51%. As a group, equities research analysts predict that Cencora, Inc. will post 15.32 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 0.89%. Cencora’s dividend payout ratio (DPR) is presently 29.29%.

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the completion of the sale, the chairman now owns 306,752 shares in the company, valued at approximately $74,283,064.32. This represents a 6.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $228.72, for a total value of $383,792.16. Following the transaction, the executive vice president now owns 20,329 shares in the company, valued at approximately $4,649,648.88. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,187 shares of company stock worth $17,790,912 over the last three months. Corporate insiders own 10.80% of the company’s stock.

About Cencora

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.