Coho Partners Ltd. Cuts Stock Position in Cencora, Inc. (NYSE:COR)

Coho Partners Ltd. cut its holdings in shares of Cencora, Inc. (NYSE:COR) by 10.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 572,661 shares of the company’s stock after selling 65,810 shares during the period. Cencora comprises approximately 4.7% of Coho Partners Ltd.’s holdings, making the stock its 4th largest holding. Coho Partners Ltd.’s holdings in Cencora were worth $128,894,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Advocates Investment Management raised its holdings in Cencora by 4.7% in the 2nd quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock valued at $220,000 after acquiring an additional 44 shares during the period. Checchi Capital Advisers LLC raised its holdings in Cencora by 2.2% in the 2nd quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock valued at $499,000 after acquiring an additional 48 shares during the period. Valeo Financial Advisors LLC raised its holdings in Cencora by 3.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,566 shares of the company’s stock valued at $353,000 after acquiring an additional 51 shares during the period. Evergreen Capital Management LLC raised its holdings in Cencora by 4.7% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,147 shares of the company’s stock valued at $258,000 after acquiring an additional 52 shares during the period. Finally, Vontobel Holding Ltd. raised its holdings in Cencora by 1.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 4,250 shares of the company’s stock valued at $957,000 after acquiring an additional 58 shares during the period. 97.52% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the transaction, the executive vice president now directly owns 10,948 shares in the company, valued at $2,656,970.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction dated 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 transaction, the insider now owns 19,980,000 shares of the company’s stock, valued at $4,806,388,800. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,461,153 shares of company stock worth $1,073,075,720. 15.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Evercore ISI decreased their target price on shares of Cencora from $270.00 to $250.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Wells Fargo & Company increased their target price on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Bank of America restated a “neutral” rating and set a $245.00 target price (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Finally, Robert W. Baird decreased their target price on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.44.

Cencora Price Performance

COR stock opened at $234.52 on Thursday. The company has a fifty day moving average price of $232.25 and a 200-day moving average price of $230.88. The company has a market capitalization of $46.78 billion, a P/E ratio of 25.66, a PEG ratio of 1.40 and a beta of 0.44. Cencora, Inc. has a 52-week low of $182.75 and a 52-week high of $247.66. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $73.32 billion. During the same quarter last year, the firm earned $2.92 earnings per share. Cencora’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, equities analysts expect that Cencora, Inc. will post 13.63 EPS for the current year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Friday, August 9th. Cencora’s payout ratio is 22.32%.

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.