Cencora, Inc. (NYSE:COR) Holdings Lowered by Dakota Wealth Management

Dakota Wealth Management reduced its stake in Cencora, Inc. (NYSE:COR) by 49.0% in the third quarter, HoldingsChannel reports. The fund owned 46,819 shares of the company’s stock after selling 45,031 shares during the quarter. Dakota Wealth Management’s holdings in Cencora were worth $10,538,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. New Millennium Group LLC acquired a new stake in Cencora in the second quarter worth approximately $26,000. TCTC Holdings LLC acquired a new stake in shares of Cencora in the first quarter valued at $29,000. TFO Wealth Partners LLC bought a new position in Cencora during the first quarter valued at about $30,000. MFA Wealth Advisors LLC acquired a new position in Cencora during the second quarter worth about $30,000. Finally, LRI Investments LLC bought a new stake in Cencora in the first quarter worth about $31,000. 97.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the sale, the insider now owns 19,980,000 shares of the company’s stock, valued at $4,806,388,800. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the sale, the insider now directly owns 19,980,000 shares of the company’s stock, valued at $4,806,388,800. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total value of $5,071,822.20. Following the sale, the chairman now owns 285,088 shares of the company’s stock, valued at approximately $67,223,750.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,461,153 shares of company stock worth $1,073,075,720. 15.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on COR. Evercore ISI reduced their price objective on shares of Cencora from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price target on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Bank of America reiterated a “neutral” rating and set a $245.00 price objective (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Leerink Partners decreased their target price on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, Robert W. Baird reduced their target price on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a report on Friday, September 6th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cencora has a consensus rating of “Moderate Buy” and an average price target of $259.44.

Cencora Price Performance

COR opened at $235.17 on Friday. The firm has a market capitalization of $46.91 billion, a P/E ratio of 25.73, a PEG ratio of 1.40 and a beta of 0.44. The stock has a fifty day moving average of $232.22 and a 200-day moving average of $230.91. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93. Cencora, Inc. has a 12-month low of $182.75 and a 12-month high of $247.66.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.16. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The firm had revenue of $74.20 billion during the quarter, compared to the consensus estimate of $73.32 billion. During the same period in the prior year, the business earned $2.92 EPS. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities analysts forecast that Cencora, Inc. will post 13.63 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Friday, August 9th. Cencora’s payout ratio is presently 22.32%.

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.