Bleakley Financial Group LLC Cuts Stock Position in Cencora, Inc. $COR

Bleakley Financial Group LLC lessened its stake in shares of Cencora, Inc. (NYSE:COR) by 15.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,347 shares of the company’s stock after selling 3,867 shares during the period. Bleakley Financial Group LLC’s holdings in Cencora were worth $6,671,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in COR. United Bank raised its position in shares of Cencora by 4.5% in the 2nd quarter. United Bank now owns 7,032 shares of the company’s stock worth $2,109,000 after purchasing an additional 305 shares during the last quarter. First Citizens Bank & Trust Co. bought a new stake in Cencora during the 2nd quarter valued at about $216,000. Caitong International Asset Management Co. Ltd purchased a new position in Cencora in the second quarter worth about $61,000. State of New Jersey Common Pension Fund D raised its holdings in Cencora by 7.3% in the second quarter. State of New Jersey Common Pension Fund D now owns 59,449 shares of the company’s stock worth $17,826,000 after buying an additional 4,043 shares during the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs lifted its stake in shares of Cencora by 8.3% in the second quarter. AG2R LA Mondiale Gestion D Actifs now owns 7,102 shares of the company’s stock worth $2,130,000 after buying an additional 543 shares in the last quarter. 97.52% of the stock is owned by institutional investors.

Cencora Stock Performance

COR stock opened at $360.70 on Monday. 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, Inc. has a 1 year low of $240.72 and a 1 year high of $377.54. The company has a market cap of $70.17 billion, a P/E ratio of 43.35, a price-to-earnings-growth ratio of 1.68 and a beta of 0.68. The stock’s fifty day moving average price is $349.41 and its 200-day moving average price is $331.39.

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

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, February 13th. Cencora’s payout ratio is 28.85%.

Insider Buying and Selling at Cencora

In other news, EVP Elizabeth S. Campbell sold 3,351 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $342.10, for a total transaction of $1,146,377.10. Following the completion of the sale, the executive vice president owned 23,891 shares of the company’s stock, valued at $8,173,111.10. The trade was a 12.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert P. Mauch sold 5,096 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 66,726 shares in the company, valued at approximately $23,669,713.98. This represents a 7.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 15,220 shares of company stock valued at $5,282,867. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Cencora from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. lifted their target price on Cencora from $417.00 to $419.00 and gave the stock an “overweight” rating in a report on Tuesday, February 10th. TD Cowen upped their price target on Cencora from $350.00 to $400.00 and gave the company a “buy” rating in a report on Monday, November 10th. Bank of America dropped their price objective on Cencora from $380.00 to $360.00 and set a “neutral” rating on the stock in a research report on Monday, January 5th. Finally, Evercore decreased their target price on Cencora from $440.00 to $420.00 and set an “outperform” rating for the company in a research report on Thursday, February 5th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $399.00.

Cencora Company 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.