Freedom Investment Management Inc. Trims Stock Position in Cencora, Inc. $COR

Freedom Investment Management Inc. lessened its holdings in shares of Cencora, Inc. (NYSE:COR) by 72.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,559 shares of the company’s stock after selling 4,114 shares during the period. Freedom Investment Management Inc.’s holdings in Cencora were worth $467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COR. GAMMA Investing LLC grew its position in Cencora by 57.0% during the first quarter. GAMMA Investing LLC now owns 5,748 shares of the company’s stock valued at $1,598,000 after buying an additional 2,087 shares during the period. Golden State Wealth Management LLC grew its position in Cencora by 157.6% during the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock valued at $47,000 after buying an additional 104 shares during the period. Sequoia Financial Advisors LLC grew its position in Cencora by 30.9% during the first quarter. Sequoia Financial Advisors LLC now owns 9,392 shares of the company’s stock valued at $2,612,000 after buying an additional 2,218 shares during the period. PDS Planning Inc grew its position in Cencora by 6.8% during the first quarter. PDS Planning Inc now owns 1,198 shares of the company’s stock valued at $333,000 after buying an additional 76 shares during the period. Finally, Artemis Investment Management LLP acquired a new stake in Cencora during the first quarter valued at $5,066,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Mizuho raised their price target 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Cencora in a research report on Wednesday, October 8th. Wells Fargo & Company lifted their target price on shares of Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Jefferies Financial Group lifted their target price on shares of Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research report on Monday, June 30th. Finally, Morgan Stanley set a $330.00 target price on shares of Cencora and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Cencora presently has a consensus rating of “Moderate Buy” and an average target price of $324.91.

Insider Activity

In other Cencora news, CEO Robert P. Mauch sold 5,097 shares of the business’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $326.80, for a total value of $1,665,699.60. Following the transaction, the chief executive officer directly owned 37,940 shares in the company, valued at $12,398,792. The trade was a 11.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Steven H. Collis sold 31,350 shares of the business’s stock in a transaction that occurred on 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 sale, the chairman directly owned 305,913 shares in the company, valued at $88,671,942.18. This trade represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,544 shares of company stock worth $12,230,941 over the last quarter. 10.80% of the stock is currently owned by company insiders.

Cencora Stock Performance

COR opened at $333.02 on Friday. The firm has a market capitalization of $64.56 billion, a PE ratio of 34.26, a PEG ratio of 1.55 and a beta of 0.63. Cencora, Inc. has a twelve month low of $223.92 and a twelve month high of $334.34. The firm’s 50-day moving average price is $304.09 and its 200 day moving average price is $295.02. 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 (NYSE:COR) last posted its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.21. The company had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. Cencora’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the business posted $3.34 EPS. As a group, sell-side analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora’s payout ratio is presently 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.