Jacobi Capital Management LLC Cuts Holdings in Cencora, Inc. $COR

Jacobi Capital Management LLC trimmed its holdings in shares of Cencora, Inc. (NYSE:COR) by 12.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,431 shares of the company’s stock after selling 201 shares during the period. Jacobi Capital Management LLC’s holdings in Cencora were worth $398,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD raised its stake in shares of Cencora by 8.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company’s stock worth $2,682,821,000 after buying an additional 787,858 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Cencora by 7.2% during the 1st quarter. Wellington Management Group LLP now owns 5,421,262 shares of the company’s stock worth $1,507,599,000 after buying an additional 363,402 shares in the last quarter. Boston Partners raised its stake in shares of Cencora by 8.1% during the 1st quarter. Boston Partners now owns 5,411,193 shares of the company’s stock worth $1,505,984,000 after buying an additional 404,093 shares in the last quarter. Invesco Ltd. raised its stake in shares of Cencora by 42.1% during the 1st quarter. Invesco Ltd. now owns 4,607,964 shares of the company’s stock worth $1,281,429,000 after buying an additional 1,364,433 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Cencora by 9.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,711,281 shares of the company’s stock worth $475,890,000 after buying an additional 154,311 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Price Performance

COR stock opened at $302.83 on Friday. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $309.35. The stock’s fifty day simple moving average is $293.24 and its 200-day simple moving average is $285.74. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. The stock has a market capitalization of $58.71 billion, a price-to-earnings ratio of 31.16, a price-to-earnings-growth ratio of 1.44 and a beta of 0.62.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The business had revenue of $80.66 billion for the quarter, compared to analysts’ expectations of $80.34 billion. During the same quarter last year, the firm earned $3.34 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis. Equities research analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.20 annualized dividend and a yield of 0.7%. Cencora’s dividend payout ratio (DPR) is 22.63%.

Insider Activity

In related news, Chairman Steven H. Collis sold 14,579 shares of the business’s stock in a transaction dated Tuesday, June 24th. The stock was 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 directly owned 311,913 shares of the company’s stock, valued at $91,271,982.06. The trade was a 4.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert P. Mauch sold 4,968 shares of the business’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $294.11, for a total value 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 represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,125 shares of company stock worth $9,993,789 over the last three months. 10.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

COR has been the subject of a number of analyst reports. Morgan Stanley set a $330.00 target price on Cencora and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Wells Fargo & Company raised their price objective on Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Finally, Jefferies Financial Group raised their price objective on Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research note on Monday, June 30th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $311.25.

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.