Barclays PLC Cuts Stock Position in Cencora, Inc. $COR

Barclays PLC lessened its position in shares of Cencora, Inc. (NYSE:COR) by 28.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 378,221 shares of the company’s stock after selling 149,276 shares during the quarter. Barclays PLC owned about 0.20% of Cencora worth $118,205,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of COR. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Cencora by 13.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,270 shares of the company’s stock valued at $15,086,000 after acquiring an additional 5,543 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in Cencora in the 3rd quarter worth approximately $26,191,000. Acadian Asset Management LLC boosted its stake in Cencora by 947.5% in the 2nd quarter. Acadian Asset Management LLC now owns 257,082 shares of the company’s stock worth $77,069,000 after purchasing an additional 232,539 shares in the last quarter. Mediolanum International Funds Ltd grew its position in Cencora by 133.0% during the 3rd quarter. Mediolanum International Funds Ltd now owns 56,293 shares of the company’s stock worth $17,342,000 after purchasing an additional 32,138 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Cencora by 40.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 17,302 shares of the company’s stock valued at $5,407,000 after purchasing an additional 4,973 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Stock Down 0.4%

NYSE:COR opened at $357.98 on Friday. The firm has a market capitalization of $69.64 billion, a P/E ratio of 43.03, a PEG ratio of 1.67 and a beta of 0.68. Cencora, Inc. has a 1-year low of $251.94 and a 1-year high of $377.54. The company’s fifty day moving average price is $354.16 and its 200-day moving average price is $336.45. The company has a debt-to-equity ratio of 3.62, a current ratio of 0.92 and a quick ratio of 0.51.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, February 4th. The company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.04 by $0.04. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The company had revenue of $85.93 billion during the quarter, compared to the consensus estimate of $86.12 billion. During the same period in the previous year, the firm posted $3.73 earnings per share. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, February 13th. Cencora’s payout ratio is 28.85%.

Insider Transactions at Cencora

In other news, CEO Robert P. Mauch sold 5,096 shares of the company’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $354.73, for a total value of $1,807,704.08. Following the sale, the chief executive officer owned 66,726 shares in the company, valued at $23,669,713.98. This represents a 7.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth S. Campbell sold 3,351 shares of Cencora stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $342.10, for a total value of $1,146,377.10. Following the transaction, the executive vice president owned 23,891 shares of the company’s stock, valued at approximately $8,173,111.10. This represents a 12.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 15,220 shares of company stock worth $5,282,867 over the last quarter. 0.38% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

COR has been the subject of a number of research analyst reports. Robert W. Baird set a $415.00 price target on shares of Cencora in a report on Tuesday, January 13th. Bank of America cut their target price on Cencora from $380.00 to $360.00 and set a “neutral” rating on the stock in a research report on Monday, January 5th. JPMorgan Chase & Co. raised their target price on Cencora from $417.00 to $419.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Evercore lowered their price target on Cencora from $440.00 to $420.00 and set an “outperform” rating for the company in a research report on Thursday, February 5th. Finally, Jefferies Financial Group upgraded Cencora from an “underperform” rating to a “buy” rating in a research note on Thursday, January 22nd. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Cencora currently has an average rating of “Moderate Buy” and an average price target of $399.00.

Cencora Profile

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.