Cencora, Inc. $COR Position Lessened by C WorldWide Group Holding A S

C WorldWide Group Holding A S reduced its stake in shares of Cencora, Inc. (NYSE:COR) by 25.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 4,892 shares of the company’s stock after selling 1,696 shares during the period. C WorldWide Group Holding A S’s holdings in Cencora were worth $1,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Citigroup reaffirmed a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Morgan Stanley upped their target price on Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a report on Friday, August 7th. UBS Group raised their price target on shares of Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Barclays lowered their price objective on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 10th. Finally, Bank of America increased their target price on shares of Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $370.85.

Cencora Stock Performance

COR stock opened at $323.99 on Wednesday. The firm has a 50 day moving average of $314.11 and a two-hundred day moving average of $309.06. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54. The company has a market capitalization of $61.83 billion, a price-to-earnings ratio of 24.07, a P/E/G ratio of 1.88 and a beta of 0.57. 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 (NYSE:COR) last released its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.35 by $0.13. The business had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. Cencora’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.00 EPS. As a group, equities analysts anticipate that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 14th. Cencora’s dividend payout ratio is currently 17.83%.

Cencora declared that its Board of Directors has approved a share buyback plan on Thursday, May 21st that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, EVP Elizabeth Campbell sold 11,300 shares of Cencora stock in a transaction on Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the transaction, the executive vice president owned 19,455 shares in the company, valued at $6,305,754.60. This trade represents a 36.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lauren M. Tyler purchased 550 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were purchased at an average price of $270.23 per share, with a total value of $148,626.50. Following the completion of the acquisition, the director directly 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 ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.38% of the company’s stock.

Cencora Profile

Cencora, Inc (NYSE:COR) is a global healthcare company that provides pharmaceutical sourcing, distribution and related services. The company connects biopharmaceutical manufacturers with pharmacies, hospitals, health systems, physician practices and other healthcare providers, helping move prescription medicines and healthcare products through the supply chain.

Cencora’s operations include pharmaceutical distribution, specialty pharmaceutical services, manufacturer support and patient-centered solutions.