Cencora, Inc. (NYSE:COR) Shares Sold by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. decreased its holdings in shares of Cencora, Inc. (NYSE:COR) by 0.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 888,423 shares of the company’s stock after selling 6,120 shares during the period. Cencora makes up approximately 2.1% of Burgundy Asset Management Ltd.’s investment portfolio, making the stock its 11th largest holding. Burgundy Asset Management Ltd. owned 0.45% of Cencora worth $200,162,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of COR. Kingswood Wealth Advisors LLC acquired a new position in Cencora during the 2nd quarter valued at approximately $655,000. TD Asset Management Inc purchased a new stake in shares of Cencora during the first quarter valued at $95,313,000. LSV Asset Management acquired a new position in shares of Cencora in the 1st quarter valued at $3,579,000. Cairn Investment Group Inc. purchased a new position in Cencora in the 1st quarter worth $2,294,000. Finally, Lake Street Advisors Group LLC acquired a new stake in Cencora during the 1st quarter worth about $836,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Buying and Selling

In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the transaction, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Silvana Battaglia sold 1,473 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the transaction, the executive vice president now owns 10,948 shares in the company, valued at approximately $2,656,970.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Steven H. Collis sold 10,755 shares of Cencora stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the completion of the sale, the chief executive officer now owns 285,088 shares in the company, valued at $63,323,746.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,450,399 shares of company stock valued at $1,070,392,799. 15.80% of the stock is owned by corporate insiders.

Cencora Trading Down 2.6 %

Shares of Cencora stock opened at $228.48 on Thursday. The firm has a 50-day simple moving average of $234.64 and a two-hundred day simple moving average of $233.23. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. Cencora, Inc. has a fifty-two week low of $178.21 and a fifty-two week high of $247.66. The company has a market cap of $45.57 billion, a P/E ratio of 25.00, a price-to-earnings-growth ratio of 1.55 and a beta of 0.44.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The company had revenue of $74.20 billion during the quarter, compared to analysts’ expectations of $73.32 billion. During the same quarter in the prior year, the firm posted $2.92 EPS. Cencora’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, equities analysts predict that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were paid a $0.51 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.89%. Cencora’s dividend payout ratio is currently 22.32%.

Analyst Ratings Changes

COR has been the topic of a number of research reports. StockNews.com raised Cencora from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Wells Fargo & Company increased their price target on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Bank of America reissued a “neutral” rating and set a $245.00 price target (down from $275.00) on shares of Cencora in a research report on Wednesday. Robert W. Baird dropped their price objective on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and an average target price of $256.67.

Cencora Company 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.