Tocqueville Asset Management L.P. Lowers Position in Cencora, Inc. $COR

Tocqueville Asset Management L.P. cut its position in shares of Cencora, Inc. (NYSE:COR) by 29.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,168 shares of the company’s stock after selling 27,669 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Cencora were worth $20,367,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of COR. IAG Wealth Partners LLC bought a new position in shares of Cencora during the third quarter valued at $30,000. Vermillion & White Wealth Management Group LLC grew its position in Cencora by 69.4% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 105 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares during the period. Cloud Capital Management LLC purchased a new stake in Cencora during the third quarter valued at $31,000. Caitlin John LLC purchased a new stake in shares of Cencora during the 3rd quarter valued at about $31,000. Finally, Westside Investment Management Inc. raised its position in Cencora by 200.0% in the third quarter. Westside Investment Management Inc. now owns 105 shares of the company’s stock worth $33,000 after acquiring 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 news, EVP Elizabeth S. Campbell sold 3,351 shares of Cencora 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 directly owned 23,891 shares in the company, valued at approximately $8,173,111.10. The trade was a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Silvana Battaglia sold 1,677 shares of Cencora stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $345.00, for a total value of $578,565.00. Following the sale, the executive vice president directly owned 18,796 shares of the company’s stock, valued at approximately $6,484,620. This represents a 8.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 15,220 shares of company stock worth $5,282,867. 0.38% of the stock is owned by insiders.

Cencora Stock Down 0.5%

Shares of COR traded down $1.61 during mid-day trading on Friday, hitting $351.04. The company’s stock had a trading volume of 106,491 shares, compared to its average volume of 1,178,933. The company has a current ratio of 0.92, a quick ratio of 0.51 and a debt-to-equity ratio of 3.62. The firm has a market capitalization of $68.29 billion, a price-to-earnings ratio of 42.22, a PEG ratio of 1.63 and a beta of 0.68. The company’s 50-day moving average is $355.37 and its 200-day moving average is $337.70. Cencora, Inc. has a 52-week low of $252.49 and a 52-week high of $377.54.

Cencora (NYSE:COR) last announced its quarterly 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 return on equity of 176.54% and a net margin of 0.50%.The business had revenue of $85.93 billion for the quarter, compared to the consensus estimate of $86.12 billion. During the same period last year, the business posted $3.73 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently commented on COR. Barclays raised their price objective on Cencora from $400.00 to $425.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. Wall Street Zen lowered Cencora from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Evercore reduced their price target on shares of Cencora from $440.00 to $420.00 and set an “outperform” rating on the stock in a research report on Thursday, February 5th. Bank of America lowered their price objective on Cencora from $380.00 to $360.00 and set a “neutral” rating for the company in a research note on Monday, January 5th. Finally, Weiss Ratings raised shares of Cencora from a “hold (c+)” rating to a “buy (b)” rating in a research note on Thursday, February 5th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Cencora currently has an average rating of “Moderate Buy” and an average target price 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.