Farallon Capital Management LLC Has $54.70 Million Stock Holdings in Cencora, Inc. (NYSE:COR)

Farallon Capital Management LLC trimmed its holdings in shares of Cencora, Inc. (NYSE:COR) by 27.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 242,800 shares of the company’s stock after selling 91,200 shares during the quarter. Farallon Capital Management LLC owned 0.12% of Cencora worth $54,703,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Financial Advocates Investment Management increased its position in shares of Cencora by 4.7% during the second quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock worth $220,000 after acquiring an additional 44 shares in the last quarter. Checchi Capital Advisers LLC increased its holdings in Cencora by 2.2% during the 2nd quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock worth $499,000 after purchasing an additional 48 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in shares of Cencora by 3.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,566 shares of the company’s stock valued at $353,000 after purchasing an additional 51 shares during the period. Evergreen Capital Management LLC lifted its holdings in shares of Cencora by 4.7% in the second quarter. Evergreen Capital Management LLC now owns 1,147 shares of the company’s stock valued at $258,000 after purchasing an additional 52 shares in the last quarter. Finally, Barlow Wealth Partners Inc. boosted its position in shares of Cencora by 5.4% during the second quarter. Barlow Wealth Partners Inc. now owns 1,339 shares of the company’s stock worth $303,000 after buying an additional 68 shares during the period. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Up 0.1 %

Cencora stock opened at $228.36 on Tuesday. 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 company’s 50-day moving average is $234.97 and its 200-day moving average is $233.04. The firm has a market capitalization of $45.55 billion, a PE ratio of 24.98, a P/E/G ratio of 1.55 and a beta of 0.44. Cencora, Inc. has a fifty-two week low of $178.21 and a fifty-two week high of $247.66.

Cencora (NYSE:COR) last announced 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. The firm had revenue of $74.20 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.92 earnings per share. Sell-side analysts anticipate that Cencora, Inc. will post 13.63 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Friday, August 9th. Cencora’s dividend payout ratio is 22.32%.

Insiders Place Their Bets

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the transaction, the insider now owns 19,980,000 shares of the company’s stock, valued at $4,806,388,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the transaction, the executive vice president now owns 10,948 shares in the company, valued at approximately $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. 15.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on COR. Wells Fargo & Company raised 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. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday. Leerink Partners reissued an “outperform” rating and set a $275.00 price target on shares of Cencora in a research report on Thursday, June 27th. Robert W. Baird reduced their price objective 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, Bank of America reaffirmed a “neutral” rating and issued a $245.00 target price (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $256.67.

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.