Carnegie Investment Counsel Cuts Stake in Cencora, Inc. $COR

Carnegie Investment Counsel reduced its holdings in shares of Cencora, Inc. (NYSE:COR) by 51.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,520 shares of the company’s stock after selling 1,620 shares during the period. Carnegie Investment Counsel’s holdings in Cencora were worth $456,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Atlantic Edge Private Wealth Management LLC increased its position in shares of Cencora by 70.0% in the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 85 shares of the company’s stock valued at $25,000 after purchasing an additional 35 shares during the last quarter. Cornerstone Planning Group LLC increased its position in shares of Cencora by 106.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock valued at $26,000 after purchasing an additional 48 shares during the last quarter. Costello Asset Management INC purchased a new stake in shares of Cencora in the 1st quarter valued at approximately $28,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Cencora in the 1st quarter valued at approximately $39,000. Finally, Golden State Wealth Management LLC increased its position in shares of Cencora by 157.6% in the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock valued at $47,000 after purchasing an additional 104 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction on Monday, October 20th. The shares were sold at an average price of $326.80, for a total transaction of $1,665,699.60. Following the completion of the sale, the chief executive officer owned 37,940 shares in the company, valued at $12,398,792. This represents a 11.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Steven H. Collis sold 31,350 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of the sale, the chairman owned 305,913 shares of the company’s stock, valued at $88,671,942.18. This trade represents a 9.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,544 shares of company stock valued at $12,230,941. 10.80% of the stock is owned by company insiders.

Analyst Ratings Changes

COR has been the topic of a number of recent analyst reports. Mizuho increased their price objective on shares of Cencora from $316.00 to $334.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Wall Street Zen downgraded shares of Cencora from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Jefferies Financial Group upped their target price on shares of Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a report on Monday, June 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Cencora in a report on Wednesday, October 8th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and an average target price of $324.91.

Cencora Trading Up 1.4%

Shares of Cencora stock opened at $333.02 on Monday. The stock has a market cap of $64.56 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 1.55 and a beta of 0.63. The company has a fifty day simple moving average of $304.09 and a 200-day simple moving average of $295.16. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. Cencora, Inc. has a 12-month low of $223.92 and a 12-month high of $334.34.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, topping analysts’ consensus estimates of $3.79 by $0.21. The firm had revenue of $80.66 billion during the quarter, compared to analysts’ expectations of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. Cencora’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.34 EPS. On average, equities analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal 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 dividend of $0.55 per share. The ex-dividend date was Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. Cencora’s dividend payout ratio is currently 22.63%.

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.