Aberdeen Group plc Acquires 18,800 Shares of Cencora, Inc. $COR

Aberdeen Group plc lifted its holdings in Cencora, Inc. (NYSE:COR) by 14.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 150,488 shares of the company’s stock after buying an additional 18,800 shares during the period. Aberdeen Group plc’s holdings in Cencora were worth $45,124,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Cencora by 8.9% in 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 during the last quarter. Wellington Management Group LLP increased its holdings in shares of Cencora by 7.2% in 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 during the last quarter. Boston Partners increased its holdings in shares of Cencora by 8.1% in 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 during the last quarter. Invesco Ltd. increased its holdings in shares of Cencora by 42.1% in 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 during the last quarter. Finally, Goldman Sachs Group Inc. boosted 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 purchasing an additional 154,311 shares during the period. 97.52% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Robert P. Mauch sold 5,097 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $290.00, for a total value of $1,478,130.00. Following the completion of the sale, the chief executive officer owned 39,274 shares of the company’s stock, valued at approximately $11,389,460. This represents a 11.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Steven H. Collis sold 31,350 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of the sale, the chairman directly owned 305,913 shares of the company’s stock, valued at $88,671,942.18. The trade was a 9.30% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,993 shares of company stock valued at $16,292,923. 10.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on COR shares. Jefferies Financial Group lifted their price target on shares of Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research note on Monday, June 30th. Evercore ISI set a $340.00 price target on shares of Cencora in a research note on Wednesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cencora in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Cencora from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Wells Fargo & Company lifted their price target on shares of Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $320.00.

Cencora Price Performance

Cencora stock opened at $318.01 on Monday. The stock has a market cap of $61.66 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. Cencora, Inc. has a 1 year low of $221.95 and a 1 year high of $319.68. The firm has a 50-day moving average of $296.99 and a two-hundred day moving average of $291.87.

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

Cencora Announces Dividend

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. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Cencora’s payout ratio is 22.63%.

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.