Burgundy Asset Management Ltd. Decreases Holdings in Cencora, Inc. $COR

Burgundy Asset Management Ltd. decreased its holdings in Cencora, Inc. (NYSE:COR) by 1.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 599,753 shares of the company’s stock after selling 10,725 shares during the period. Cencora makes up about 1.7% of Burgundy Asset Management Ltd.’s holdings, making the stock its 21st biggest holding. Burgundy Asset Management Ltd.’s holdings in Cencora were worth $174,894,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. IAG Wealth Partners LLC purchased a new stake in Cencora during the third quarter valued at about $30,000. Cloud Capital Management LLC bought a new stake in shares of Cencora in the 3rd quarter valued at about $31,000. Caitlin John LLC purchased a new stake in Cencora during the 3rd quarter valued at about $31,000. Vermillion & White Wealth Management Group LLC grew its position in Cencora by 69.4% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 105 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the last quarter. Finally, Westside Investment Management Inc. increased its stake in Cencora by 200.0% in the 3rd quarter. Westside Investment Management Inc. now owns 105 shares of the company’s stock worth $33,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In other Cencora news, EVP Elizabeth S. Campbell sold 3,351 shares of the business’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $342.10, for a total value of $1,146,377.10. Following the completion of the transaction, the executive vice president owned 23,891 shares of the company’s stock, valued at approximately $8,173,111.10. The trade was a 12.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Silvana Battaglia sold 1,677 shares of Cencora stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $345.00, for a total transaction of $578,565.00. Following the completion of the sale, the executive vice president owned 18,796 shares of the company’s stock, valued at $6,484,620. This represents a 8.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 15,220 shares of company stock worth $5,282,867. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on COR. Wells Fargo & Company increased their price objective on Cencora from $405.00 to $429.00 and gave the company an “overweight” rating in a research note on Tuesday, February 10th. Robert W. Baird set a $415.00 price target on shares of Cencora in a research report on Tuesday, January 13th. Bank of America cut their price target on shares of Cencora from $380.00 to $360.00 and set a “neutral” rating on the stock in a report on Monday, January 5th. UBS Group upped their price objective on shares of Cencora from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, Evercore cut their target price on Cencora from $440.00 to $420.00 and set an “outperform” rating on the stock in a research note on Thursday, February 5th. Eleven investment 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $399.00.

Cencora Stock Down 0.8%

Shares of NYSE:COR opened at $368.48 on Thursday. The firm has a market capitalization of $71.68 billion, a P/E ratio of 44.29, a P/E/G ratio of 1.73 and a beta of 0.68. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.51 and a current ratio of 0.92. The stock has a 50 day moving average price of $353.51 and a 200-day moving average price of $335.52. Cencora, Inc. has a 52-week low of $248.59 and a 52-week high of $377.54.

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

Cencora Announces Dividend

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

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.