WINTON GROUP Ltd Trims Stake in Cencora, Inc. $COR

WINTON GROUP Ltd cut its position in shares of Cencora, Inc. (NYSE:COR) by 74.5% in the second quarter, Holdings Channel.com reports. The firm owned 2,520 shares of the company’s stock after selling 7,347 shares during the quarter. WINTON GROUP Ltd’s holdings in Cencora were worth $713,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in COR. Elyxium Wealth LLC bought a new stake in Cencora in the fourth quarter worth about $27,000. Elevation Wealth Partners LLC grew its stake in shares of Cencora by 506.2% during the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock valued at $27,000 after buying an additional 81 shares during the last quarter. Bell Investment Advisors Inc bought a new position in shares of Cencora during the second quarter valued at approximately $28,000. Caitlin John LLC purchased a new stake in shares of Cencora in the second quarter worth approximately $28,000. Finally, Basepoint Wealth LLC purchased a new stake in shares of Cencora in the fourth quarter worth approximately $32,000. 97.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

COR has been the subject of a number of recent analyst reports. Citigroup restated a “buy” rating on shares of Cencora in a report on Thursday, August 6th. UBS Group increased their target price on Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Evercore reissued an “outperform” rating and set a $350.00 target price on shares of Cencora in a research note on Thursday, August 6th. Wells Fargo & Company upped their price target on shares of Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Finally, Robert W. Baird set a $370.00 price target on shares of Cencora in a research note on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cencora has a consensus rating of “Moderate Buy” and a consensus target price of $370.85.

Cencora Stock Up 1.6%

Shares of NYSE:COR opened at $326.67 on Tuesday. Cencora, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54. The stock has a market cap of $62.34 billion, a P/E ratio of 24.27, a price-to-earnings-growth ratio of 1.82 and a beta of 0.57. The business’s 50 day moving average is $316.38 and its 200 day moving average is $307.95. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating analysts’ consensus estimates of $4.35 by $0.13. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The business had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. During the same period in the previous year, the company posted $4.00 EPS. Cencora’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts predict that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, August 14th. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. Cencora’s dividend payout ratio (DPR) is currently 17.83%.

Cencora declared that its board has initiated a share buyback plan on Thursday, May 21st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, Director Lauren M. Tyler acquired 550 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the acquisition, the director directly owned 4,359 shares of the company’s stock, valued at $1,177,932.57. The trade was a 14.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth Campbell sold 11,300 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the sale, the executive vice president directly owned 19,455 shares of the company’s stock, valued at approximately $6,305,754.60. This trade represents a 36.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.38% of the company’s stock.

Cencora Company Profile

Cencora, Inc (NYSE:COR) is a global healthcare company that provides pharmaceutical sourcing, distribution and related services. The company connects biopharmaceutical manufacturers with pharmacies, hospitals, health systems, physician practices and other healthcare providers, helping move prescription medicines and healthcare products through the supply chain.

Cencora’s operations include pharmaceutical distribution, specialty pharmaceutical services, manufacturer support and patient-centered solutions.