Martingale Asset Management L P Lowers Stock Position in Cencora, Inc. $COR

Martingale Asset Management L P trimmed its holdings in shares of Cencora, Inc. (NYSE:COR) by 23.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 48,682 shares of the company’s stock after selling 15,102 shares during the period. Martingale Asset Management L P’s holdings in Cencora were worth $13,538,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of COR. PGIM Custom Harvest LLC acquired a new position in Cencora during the first quarter worth $204,000. T. Rowe Price Investment Management Inc. lifted its holdings in Cencora by 4,459.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 997,233 shares of the company’s stock valued at $277,321,000 after acquiring an additional 975,362 shares during the period. Carmignac Gestion boosted its position in shares of Cencora by 10.2% during the 1st quarter. Carmignac Gestion now owns 1,103,479 shares of the company’s stock worth $306,863,000 after purchasing an additional 101,978 shares in the last quarter. Credit Agricole S A grew its stake in shares of Cencora by 23.1% during the 1st quarter. Credit Agricole S A now owns 99,143 shares of the company’s stock worth $27,571,000 after purchasing an additional 18,578 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Cencora by 1,169.0% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 93,283 shares of the company’s stock worth $25,941,000 after purchasing an additional 85,932 shares during the period. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Trading Up 2.9%

Shares of COR stock opened at $303.2610 on Thursday. The firm has a market cap of $58.80 billion, a P/E ratio of 31.20, a PEG ratio of 1.40 and a beta of 0.58. The firm’s 50-day simple moving average is $293.37 and its 200-day simple moving average is $279.82. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $309.35. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The business had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. During the same period last year, the company posted $3.34 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be given a $0.55 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. Cencora’s dividend payout ratio is presently 22.63%.

Wall Street Analysts Forecast Growth

COR has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of Cencora from $298.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Morgan Stanley set a $330.00 price target on Cencora and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Wells Fargo & Company upped their price target on Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a report on Wednesday, August 13th. Citigroup raised their price objective on Cencora from $330.00 to $355.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Finally, Jefferies Financial Group boosted their target price on Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research report on Monday, June 30th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Cencora presently has an average rating of “Moderate Buy” and an average target price of $311.25.

Insider Buying and Selling at Cencora

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 14,579 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the completion of the sale, the chairman directly owned 311,913 shares of the company’s stock, valued at $91,271,982.06. This trade represents a 4.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,125 shares of company stock worth $9,993,789 in the last 90 days. Company insiders own 10.80% of the company’s stock.

Cencora Company 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.