Baird Financial Group Inc. Sells 20,601 Shares of Cencora, Inc. $COR

Baird Financial Group Inc. trimmed its holdings in Cencora, Inc. (NYSE:COR) by 26.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,059 shares of the company’s stock after selling 20,601 shares during the period. Baird Financial Group Inc.’s holdings in Cencora were worth $16,809,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Norges Bank acquired a new position in shares of Cencora in the 2nd quarter valued at approximately $695,215,000. Artisan Partners Limited Partnership acquired a new stake in Cencora during the 2nd quarter worth approximately $411,888,000. Invesco Ltd. lifted its stake in Cencora by 42.1% in the first quarter. Invesco Ltd. now owns 4,607,964 shares of the company’s stock valued at $1,281,429,000 after buying an additional 1,364,433 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Cencora by 5.3% in the second quarter. Vanguard Group Inc. now owns 22,479,041 shares of the company’s stock valued at $6,740,340,000 after buying an additional 1,125,661 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of Cencora by 4,459.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 997,233 shares of the company’s stock valued at $277,321,000 after buying an additional 975,362 shares during the period. 97.52% of the stock is currently owned by institutional investors.

Cencora Stock Performance

COR opened at $339.28 on Friday. The business’s 50-day simple moving average is $340.04 and its 200 day simple moving average is $309.60. Cencora, Inc. has a 52-week low of $223.92 and a 52-week high of $377.54. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.55 and a current ratio of 0.90. The firm has a market capitalization of $65.82 billion, a PE ratio of 42.68, a PEG ratio of 1.61 and a beta of 0.63.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $3.79 by $0.05. Cencora had a return on equity of 227.15% and a net margin of 0.48%.The firm had revenue of $83.73 billion during the quarter, compared to the consensus estimate of $83.36 billion. During the same period last year, the company earned $3.34 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year. Cencora has set its FY 2026 guidance at 17.450-17.75 EPS. As a group, sell-side analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 14th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.7%. This is an increase from Cencora’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, November 14th. Cencora’s payout ratio is currently 30.19%.

Wall Street Analyst Weigh In

COR has been the topic of a number of research analyst reports. Robert W. Baird raised their price objective on shares of Cencora from $355.00 to $395.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Evercore ISI set a $400.00 price target on Cencora and gave the company an “outperform” rating in a report on Thursday, November 6th. Wells Fargo & Company upped their price objective on Cencora from $354.00 to $405.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. TD Cowen lifted their target price on Cencora from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Finally, UBS Group upped their price target on Cencora from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and a consensus price target of $371.09.

Insiders Place Their Bets

In other Cencora news, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total value of $9,087,111.00. Following the completion of the sale, the chairman 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert P. Mauch sold 5,096 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $366.64, for a total transaction of $1,868,397.44. Following the transaction, the chief executive officer owned 65,746 shares in the company, valued at $24,105,113.44. This represents a 7.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 46,640 shares of company stock valued at $14,099,338. Corporate insiders own 10.80% of the company’s stock.

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.