Cencora, Inc. (NYSE:COR) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its stake in Cencora, Inc. (NYSE:COR) by 98.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 29,695 shares of the company’s stock after selling 1,771,159 shares during the period. Pacer Advisors Inc.’s holdings in Cencora were worth $6,690,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in Cencora in the 1st quarter valued at approximately $25,000. New Millennium Group LLC acquired a new position in shares of Cencora in the second quarter worth $26,000. Legacy Bridge LLC acquired a new position in shares of Cencora in the first quarter worth $27,000. TCTC Holdings LLC acquired a new position in shares of Cencora in the first quarter worth $29,000. Finally, TFO Wealth Partners LLC acquired a new position in shares of Cencora in the first quarter worth $30,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on COR shares. Leerink Partners restated an “outperform” rating and issued a $275.00 price target on shares of Cencora in a research note on Thursday, June 27th. Wells Fargo & Company boosted their price target on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Bank of America restated a “neutral” rating and issued a $245.00 price target (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Robert W. Baird dropped their price target on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. Finally, StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $256.67.

Insider Activity at Cencora

In other 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 value of $357,482.37. Following the completion of the sale, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. 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 ninety days. Insiders own 15.80% of the company’s stock.

Cencora Price Performance

Shares of COR opened at $228.36 on Tuesday. Cencora, Inc. has a 1-year low of $178.21 and a 1-year high of $247.66. The stock has a market cap of $45.55 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 1.55 and a beta of 0.44. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. The firm has a fifty day moving average price of $234.97 and a 200 day moving average price of $233.04.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The firm had revenue of $74.20 billion during the quarter, compared to analysts’ expectations of $73.32 billion. During the same period in the previous year, the company earned $2.92 earnings per share. Cencora’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, sell-side 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. Investors of record on Friday, August 9th were given a $0.51 dividend. The ex-dividend date of this dividend 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 (DPR) is presently 22.32%.

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.