J. Safra Sarasin Holding AG Lowers Stock Position in Cencora, Inc. (NYSE:COR)

J. Safra Sarasin Holding AG trimmed its position in Cencora, Inc. (NYSE:COR) by 41.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,769 shares of the company’s stock after selling 7,730 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Cencora were worth $2,995,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Cencora by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company’s stock worth $1,990,542,000 after buying an additional 78,066 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Cencora by 62.3% during the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company’s stock valued at $1,166,944,000 after purchasing an additional 1,994,256 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Cencora by 20.4% in the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company’s stock worth $728,757,000 after buying an additional 550,246 shares during the last quarter. Northern Trust Corp raised its position in shares of Cencora by 11.6% during the 4th quarter. Northern Trust Corp now owns 2,421,237 shares of the company’s stock valued at $544,004,000 after buying an additional 252,028 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new position in shares of Cencora in the 4th quarter valued at about $399,508,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Ratings Changes

COR has been the topic of a number of recent research reports. Robert W. Baird upped their price objective on Cencora from $314.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Wells Fargo & Company raised shares of Cencora from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Citigroup raised their price target on shares of Cencora from $330.00 to $355.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Jefferies Financial Group raised their price objective on Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a report on Monday, June 30th. Finally, Bank of America lifted their price objective on shares of Cencora from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $309.83.

Cencora Trading Up 0.8%

NYSE COR opened at $288.31 on Friday. The company has a market capitalization of $55.88 billion, a PE ratio of 33.45, a P/E/G ratio of 1.43 and a beta of 0.58. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52. The company has a fifty day moving average of $292.97 and a 200 day moving average of $276.29. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating analysts’ consensus estimates of $4.07 by $0.35. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The company had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. During the same quarter last year, the firm posted $3.80 EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. Research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, May 16th. Cencora’s payout ratio is currently 25.52%.

Insider Buying and Selling at Cencora

In related news, Chairman Steven H. Collis sold 14,579 shares of the company’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total value of $4,266,106.98. Following the completion of the sale, the chairman owned 311,913 shares of the company’s stock, valued at approximately $91,271,982.06. This represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 shares were sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the completion of the sale, the chief executive officer directly owned 42,351 shares of the company’s stock, valued at approximately $12,455,852.61. This trade represents a 10.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,125 shares of company stock worth $9,993,789. Insiders own 10.80% of the company’s stock.

Cencora Company 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.