Cencora, Inc. (NYSE:COR) Shares Sold by TD Asset Management Inc

TD Asset Management Inc reduced its stake in shares of Cencora, Inc. (NYSE:COR) by 6.9% in the 1st quarter, HoldingsChannel reports. The firm owned 269,276 shares of the company’s stock after selling 19,946 shares during the quarter. TD Asset Management Inc’s holdings in Cencora were worth $74,883,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COR. Net Worth Advisory Group raised its position in shares of Cencora by 1.4% in the first quarter. Net Worth Advisory Group now owns 2,645 shares of the company’s stock valued at $736,000 after buying an additional 36 shares during the last quarter. Obermeyer Wealth Partners boosted its position in Cencora by 1.3% during the first quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company’s stock worth $758,000 after acquiring an additional 36 shares during the last quarter. Cromwell Holdings LLC grew its stake in Cencora by 9.5% in the 1st quarter. Cromwell Holdings LLC now owns 450 shares of the company’s stock worth $125,000 after acquiring an additional 39 shares during the period. Private Trust Co. NA grew its stake in Cencora by 2.5% in the 1st quarter. Private Trust Co. NA now owns 1,933 shares of the company’s stock worth $538,000 after acquiring an additional 47 shares during the period. Finally, Permanent Capital Management LP raised its holdings in Cencora by 4.0% in the 1st quarter. Permanent Capital Management LP now owns 1,238 shares of the company’s stock valued at $344,000 after acquiring an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Bank of America raised their price objective on Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, April 11th. UBS Group increased their target price on Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Citigroup lifted their price target on Cencora from $330.00 to $355.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Wells Fargo & Company raised shares of Cencora from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Finally, Morgan Stanley set a $330.00 target price on shares of Cencora and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $309.83.

Insiders Place Their Bets

In other Cencora news, CEO Robert P. Mauch sold 4,968 shares of the firm’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $294.11, for a total value of $1,461,138.48. Following the transaction, the chief executive officer directly owned 42,351 shares of the company’s stock, valued at $12,455,852.61. This trade represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 14,578 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $292.67, for a total value of $4,266,543.26. Following the transaction, the chairman owned 309,913 shares in the company, valued at approximately $90,702,237.71. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,125 shares of company stock valued at $9,993,789. 10.80% of the stock is owned by corporate insiders.

Cencora Stock Performance

NYSE COR opened at $290.17 on Monday. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $309.35. The firm has a market capitalization of $56.24 billion, a P/E ratio of 33.66, a P/E/G ratio of 1.44 and a beta of 0.57. The business’s 50-day simple moving average is $293.31 and its 200-day simple moving average is $274.79.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating analysts’ consensus estimates of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The firm had revenue of $75.50 billion for the quarter, compared to analysts’ expectations of $75.41 billion. During the same period in the previous year, the company posted $3.80 earnings per share. Cencora’s revenue was up 10.3% compared to the same quarter last year. Equities analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were issued a dividend of $0.55 per share. The ex-dividend date was Friday, May 16th. This represents a $2.20 annualized dividend and a dividend yield of 0.76%. Cencora’s payout ratio is 25.52%.

Cencora Profile

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.