Cencora, Inc. $COR Stock: Jefferies Financial Group Inc. Cuts Stake

Jefferies Financial Group Inc. lowered its holdings in Cencora, Inc. (NYSE:COR) by 43.2% during the third quarter, Holdings Channel.com reports. The firm owned 93,000 shares of the company’s stock after selling 70,817 shares during the period. Jefferies Financial Group Inc.’s holdings in Cencora were worth $27,923,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Deutsche Bank AG acquired a new stake in Cencora in the 2nd quarter valued at about $286,673,000. SEB Asset Management AB bought a new position in shares of Cencora in the first quarter worth about $134,139,000. Wedge Capital Management L L P NC raised its stake in shares of Cencora by 31.0% in the second quarter. Wedge Capital Management L L P NC now owns 105,614 shares of the company’s stock worth $29,887,000 after acquiring an additional 24,968 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Cencora in the second quarter worth about $841,000. Finally, Peachtree Investment Partners LLC acquired a new position in shares of Cencora during the second quarter worth approximately $2,204,000. Institutional investors own 97.52% of the company’s stock.

Cencora Price Performance

Shares of COR opened at $349.96 on Thursday. The stock has a market cap of $66.78 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 1.80 and a beta of 0.58. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. The stock’s 50-day moving average price is $326.43 and its two-hundred day moving average price is $317.22. The company has a current ratio of 0.94, a quick ratio of 0.59 and a debt-to-equity ratio of 3.01.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $4.66 EPS for the quarter, beating analysts’ consensus estimates of $4.58 by $0.08. The company had revenue of $88.35 billion during the quarter, compared to analysts’ expectations of $87.95 billion. Cencora had a return on equity of 110.72% and a net margin of 1.03%. Cencora’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $3.84 EPS. On average, equities analysts predict that Cencora, Inc. will post 19.58 earnings per share for the current year.

Cencora Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 13th will be issued a dividend of $0.66 per share. This is an increase from Cencora’s previous quarterly dividend of $0.60. This represents a $2.64 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, November 13th. Cencora’s dividend payout ratio is presently 14.73%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Argus upped their target price on shares of Cencora from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Tuesday, October 20th. Royal Bank Of Canada restated a “sector perform” rating and issued a $330.00 price objective on shares of Cencora in a research report on Tuesday, September 8th. Leerink Partners boosted their price objective on shares of Cencora from $388.00 to $405.00 and gave the stock an “outperform” rating in a research report on Thursday, November 5th. Bank of America upped their price objective on Cencora from $285.00 to $310.00 in a report on Tuesday, July 21st. Finally, Citigroup reiterated a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $368.14.

Insider Transactions at Cencora

In related news, EVP Elizabeth Campbell sold 11,300 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the transaction, the executive vice president owned 19,455 shares in the company, valued at approximately $6,305,754.60. The trade was a 36.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.38% of the company’s stock.

About Cencora

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical services company that connects pharmaceutical manufacturers with healthcare providers. Its core business includes sourcing and distributing medicines and other healthcare products to pharmacies, hospitals, health systems and other care providers. The company also provides services supporting specialty pharmaceuticals, including logistics, consulting and solutions for manufacturers and healthcare organizations. These services help manage the handling and delivery of complex medicines and support access to treatments.