Cullen Investment Group LTD. Has $1 Million Holdings in Cencora, Inc. $COR

Cullen Investment Group LTD. cut its stake in shares of Cencora, Inc. (NYSE:COR) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,333 shares of the company’s stock after selling 36 shares during the period. Cullen Investment Group LTD.’s holdings in Cencora were worth $1,000,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Cornerstone Planning Group LLC lifted its position in Cencora by 106.7% during the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock worth $26,000 after acquiring an additional 48 shares during the last quarter. Hoey Investments Inc. acquired a new stake in Cencora during the first quarter worth approximately $28,000. Costello Asset Management INC acquired a new stake in Cencora during the first quarter worth approximately $28,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Cencora during the first quarter worth approximately $39,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in Cencora during the fourth quarter worth approximately $38,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cencora

In related news, Chairman Steven H. Collis sold 14,578 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total transaction of $4,266,543.26. Following the sale, the chairman owned 309,913 shares in the company, valued at approximately $90,702,237.71. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert P. Mauch sold 4,968 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the sale, the chief executive officer owned 42,351 shares in the company, valued at $12,455,852.61. This represents a 10.50% 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 quarter. 10.80% of the stock is currently owned by company insiders.

Cencora Stock Performance

NYSE COR opened at $302.83 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. The firm has a market capitalization of $58.71 billion, a price-to-earnings ratio of 31.16, a P/E/G ratio of 1.44 and a beta of 0.62. The firm’s 50 day simple moving average is $293.24 and its 200 day simple moving average is $285.50. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35.

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

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were given a dividend of $0.55 per share. The ex-dividend date was Friday, August 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. Cencora’s dividend payout ratio (DPR) is currently 22.63%.

Wall Street Analyst Weigh In

COR has been the topic of several recent research reports. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Jefferies Financial Group raised their target price on shares of Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a report on Monday, June 30th. Finally, Wells Fargo & Company raised their target price on shares of Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a report on Wednesday, August 13th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and an average target price of $311.25.

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.