Cencora, Inc. (NYSE:COR) Stake Lowered by ANTIPODES PARTNERS Ltd

ANTIPODES PARTNERS Ltd lessened its stake in Cencora, Inc. (NYSE:COR) by 1.2% in the second quarter, HoldingsChannel.com reports. The firm owned 487,101 shares of the company’s stock after selling 5,768 shares during the quarter. Cencora accounts for 4.0% of ANTIPODES PARTNERS Ltd’s portfolio, making the stock its 8th largest position. ANTIPODES PARTNERS Ltd’s holdings in Cencora were worth $109,744,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in COR. Kingswood Wealth Advisors LLC acquired a new stake in shares of Cencora during the 2nd quarter valued at approximately $655,000. TD Asset Management Inc purchased a new stake in shares of Cencora in the first quarter valued at about $95,313,000. LSV Asset Management acquired a new stake in shares of Cencora in the first quarter valued at approximately $3,579,000. Cairn Investment Group Inc. purchased a new position in shares of Cencora during the 1st quarter worth approximately $2,294,000. Finally, Lake Street Advisors Group LLC acquired a new position in shares of Cencora during the 1st quarter worth approximately $836,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Buying and Selling

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the completion of the transaction, the insider now directly owns 19,980,000 shares in the company, valued at $4,806,388,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the completion of the transaction, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the sale, the insider now directly owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The disclosure for this sale can be found here. Insiders have sold a total of 4,450,399 shares of company stock worth $1,070,392,799 over the last quarter. 15.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on COR. Leerink Partners reissued an “outperform” rating and issued a $275.00 price target on shares of Cencora in a report on Thursday, June 27th. Wells Fargo & Company lifted their price target on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Robert W. Baird cut their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. lifted their price objective on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Cencora currently has an average rating of “Moderate Buy” and a consensus price target of $258.13.

Cencora Price Performance

Shares of COR stock opened at $236.29 on Friday. The firm has a fifty day moving average of $232.08 and a two-hundred day moving average of $233.16. The firm has a market cap of $47.13 billion, a P/E ratio of 25.85, a P/E/G ratio of 1.57 and a beta of 0.45. Cencora, Inc. has a 1-year low of $171.65 and a 1-year high of $247.66. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55.

Cencora (NYSE:COR) last released its earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The company had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. During the same quarter last year, the business posted $2.92 EPS. Cencora’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, research analysts anticipate that Cencora, Inc. will post 13.61 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, August 9th. Cencora’s dividend payout ratio is presently 22.32%.

About Cencora

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.