Cencora, Inc. $COR Stock Holdings Lowered by Private Management Group Inc.

Private Management Group Inc. cut its holdings in shares of Cencora, Inc. (NYSE:COR) by 24.9% in the 2nd quarter, Holdings Channel reports. The firm owned 15,041 shares of the company’s stock after selling 5,000 shares during the period. Private Management Group Inc.’s holdings in Cencora were worth $4,256,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in COR. Kemnay Advisory Services Inc. acquired a new position in Cencora in the fourth quarter worth approximately $25,000. Elyxium Wealth LLC acquired a new stake in shares of Cencora during the 4th quarter valued at $27,000. Elevation Wealth Partners LLC lifted its position in shares of Cencora by 506.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock valued at $27,000 after acquiring an additional 81 shares during the last quarter. Bell Investment Advisors Inc bought a new stake in shares of Cencora during the 2nd quarter worth $28,000. Finally, Caitlin John LLC bought a new stake in shares of Cencora during the 2nd quarter worth $28,000. 97.52% of the stock is currently owned by institutional investors.

Insider Transactions at Cencora

In related news, Director Lauren M. Tyler acquired 550 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were purchased at an average cost of $270.23 per share, with a total value of $148,626.50. Following the completion of the transaction, the director owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the transaction, the executive vice president owned 19,455 shares in the company, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.38% of the stock is owned by corporate insiders.

Cencora Stock Performance

Shares of Cencora stock opened at $322.12 on Friday. The stock has a market cap of $61.47 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 1.85 and a beta of 0.57. The business has a fifty day simple moving average of $307.38 and a 200-day simple moving average of $310.88. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.35 by $0.13. The firm had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.Cencora’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.00 earnings per share. On average, sell-side analysts anticipate that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora declared that its board has approved a stock repurchase plan on Thursday, May 21st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, August 14th. Cencora’s payout ratio is 17.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Evercore restated an “outperform” rating and issued a $350.00 target price on shares of Cencora in a report on Thursday, August 6th. JPMorgan Chase & Co. increased their price target on Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Royal Bank Of Canada started coverage on Cencora in a research note on Wednesday, August 19th. They issued a “sector perform” rating and a $330.00 price target on the stock. Barclays cut their price objective on Cencora from $425.00 to $350.00 and set an “overweight” rating on the stock in a report on Wednesday, June 10th. Finally, Wells Fargo & Company upped their price objective on shares of Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Cencora presently has an average rating of “Moderate Buy” and a consensus target price of $370.85.

About Cencora

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.