Applied Finance Capital Management LLC Reduces Holdings in Cencora, Inc. $COR

Applied Finance Capital Management LLC lowered its position in shares of Cencora, Inc. (NYSE:COR) by 6.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,569 shares of the company’s stock after selling 332 shares during the period. Applied Finance Capital Management LLC’s holdings in Cencora were worth $1,370,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Voleon Capital Management LP acquired a new position in Cencora during the first quarter worth approximately $3,111,000. Exchange Traded Concepts LLC increased its holdings in shares of Cencora by 4.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company’s stock valued at $307,000 after acquiring an additional 48 shares during the period. Focus Partners Wealth raised its position in Cencora by 25.8% in the 1st quarter. Focus Partners Wealth now owns 5,715 shares of the company’s stock valued at $1,589,000 after purchasing an additional 1,171 shares during the last quarter. Martin Capital Partners LLC raised its position in Cencora by 205.2% in the 2nd quarter. Martin Capital Partners LLC now owns 3,784 shares of the company’s stock valued at $1,135,000 after purchasing an additional 2,544 shares during the last quarter. Finally, Fiduciary Alliance LLC acquired a new stake in Cencora during the 2nd quarter worth $262,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Price Performance

Shares of NYSE:COR opened at $319.22 on Friday. Cencora, Inc. has a 52 week low of $223.92 and a 52 week high of $321.87. The company has a 50-day moving average price of $299.51 and a 200 day moving average price of $292.81. The company has a market cap of $61.89 billion, a P/E ratio of 32.84, a PEG ratio of 1.49 and a beta of 0.63. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64.

Cencora (NYSE:COR) last released its 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 company had revenue of $80.66 billion for the quarter, compared to analysts’ expectations of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.34 EPS. Research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

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

Insiders Place Their Bets

In other Cencora news, CEO Robert P. Mauch sold 5,097 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the sale, the chief executive officer directly owned 39,274 shares in the company, valued at approximately $11,389,460. The trade was a 11.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of the transaction, the chairman owned 305,913 shares of the company’s stock, valued at $88,671,942.18. This represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,025 shares of company stock worth $14,831,784 in the last ninety days. 10.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

COR has been the topic of a number of recent research reports. Mizuho lifted their price objective on shares of Cencora from $316.00 to $334.00 and gave the company an “outperform” rating in a research note on Thursday. Wells Fargo & Company boosted their price target on Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cencora in a research report on Wednesday, October 8th. Morgan Stanley set a $330.00 target price on Cencora and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. Finally, Jefferies Financial Group boosted their target price on Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a report on Monday, June 30th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $324.91.

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.