Moors & Cabot Inc. Reduces Position in Cencora, Inc. (NYSE:COR)

Moors & Cabot Inc. decreased its position in Cencora, Inc. (NYSE:COR) by 12.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,032 shares of the company’s stock after selling 295 shares during the period. Moors & Cabot Inc.’s holdings in Cencora were worth $458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quantbot Technologies LP lifted its stake in Cencora by 39.2% during the 2nd quarter. Quantbot Technologies LP now owns 81,560 shares of the company’s stock valued at $18,375,000 after acquiring an additional 22,987 shares during the period. Dimensional Fund Advisors LP lifted its position in Cencora by 10.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,262,882 shares of the company’s stock valued at $284,544,000 after purchasing an additional 119,927 shares during the period. Black Creek Investment Management Inc. boosted its holdings in Cencora by 7.8% in the second quarter. Black Creek Investment Management Inc. now owns 24,873 shares of the company’s stock valued at $5,604,000 after purchasing an additional 1,809 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Cencora by 4.2% in the second quarter. Envestnet Asset Management Inc. now owns 560,450 shares of the company’s stock valued at $126,269,000 after purchasing an additional 22,735 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Cencora by 2.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 28,452 shares of the company’s stock valued at $6,410,000 after buying an additional 616 shares during the last quarter. 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 business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value of $357,482.37. Following the transaction, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value of $357,482.37. Following the completion of the sale, the executive vice president now owns 10,948 shares in the company, valued at $2,656,970.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Steven H. Collis sold 10,755 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 285,088 shares in the company, valued at approximately $63,323,746.56. The disclosure for this sale can be found here. Insiders sold a total of 4,450,399 shares of company stock valued at $1,070,392,799 over the last three months. 15.80% of the stock is currently owned by company insiders.

Cencora Stock Down 0.8 %

COR opened at $226.56 on Friday. 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 one year low of $178.21 and a one year high of $247.66. The business’s 50-day simple moving average is $234.73 and its 200-day simple moving average is $233.18. The stock has a market capitalization of $45.19 billion, a P/E ratio of 24.79, 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 (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. The firm had revenue of $74.20 billion for the quarter, compared to analyst estimates of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company posted $2.92 earnings per share. Analysts anticipate that Cencora, Inc. will post 13.63 EPS for the current year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Friday, August 9th. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on COR shares. Leerink Partners restated an “outperform” rating and issued a $275.00 target price on shares of Cencora in a research note on Thursday, June 27th. Bank of America restated a “neutral” rating and issued a $245.00 price objective (down previously from $275.00) on shares of Cencora in a research report on Wednesday. Wells Fargo & Company lifted their target price on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Robert W. Baird dropped their price target on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research report on Friday, September 6th. Finally, StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.