Mn Services Vermogensbeheer B.V. Reduces Stock Position in Cencora, Inc. (NYSE:COR)

Mn Services Vermogensbeheer B.V. decreased its stake in shares of Cencora, Inc. (NYSE:COR) by 2.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 67,000 shares of the company’s stock after selling 2,000 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Cencora were worth $15,095,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

COR has been the topic of several analyst reports. SVB Leerink reaffirmed an “outperform” rating and set a $275.00 price target on shares of Cencora in a research report on Thursday, June 27th. Citigroup lifted their target price on Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Robert W. Baird increased their price target on Cencora from $285.00 to $287.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Wells Fargo & Company boosted their price objective on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cencora has a consensus rating of “Moderate Buy” and a consensus price target of $258.63.

Cencora Trading Down 1.2 %

Cencora stock traded down $2.85 during midday trading on Friday, reaching $237.74. 1,170,844 shares of the stock traded hands, compared to its average volume of 1,367,834. The firm has a market cap of $47.42 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 1.68 and a beta of 0.45. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.93. The company has a 50-day simple moving average of $231.85 and a two-hundred day simple moving average of $232.79. Cencora, Inc. has a 12-month low of $171.65 and a 12-month high of $247.66.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business had revenue of $74.20 billion during the quarter, compared to analyst estimates of $73.32 billion. During the same quarter last year, the firm posted $2.92 earnings per share. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. Research analysts expect that Cencora, Inc. will post 13.56 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be 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 is Friday, August 9th. Cencora’s dividend payout ratio is currently 22.32%.

Insider Transactions at Cencora

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the sale, the insider now directly owns 19,980,000 shares in the company, valued at $4,806,388,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gina Clark sold 27,093 shares of Cencora stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $216.07, for a total transaction of $5,853,984.51. Following the completion of the transaction, the executive vice president now owns 15,158 shares of the company’s stock, valued at approximately $3,275,189.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,479,366 shares of company stock valued at $1,076,666,297. 15.80% of the stock is currently owned by company insiders.

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.