APG Asset Management N.V. Decreases Stock Position in Cencora, Inc. (NYSE:COR)

APG Asset Management N.V. decreased its holdings in Cencora, Inc. (NYSE:COR) by 33.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 380,851 shares of the company’s stock after selling 194,132 shares during the quarter. APG Asset Management N.V. owned about 0.19% of Cencora worth $80,061,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Kingswood Wealth Advisors LLC bought a new stake in Cencora during the second quarter valued at about $655,000. TD Asset Management Inc purchased a new position in Cencora during the first quarter worth approximately $95,313,000. LSV Asset Management purchased a new stake in Cencora in the 1st quarter worth $3,579,000. Cairn Investment Group Inc. purchased a new position in Cencora in the 1st quarter valued at about $2,294,000. Finally, Lake Street Advisors Group LLC purchased a new stake in shares of Cencora during the first quarter worth approximately $836,000. Institutional investors own 97.52% of the company’s stock.

Insider Activity at Cencora

In related news, CEO Steven H. Collis sold 10,755 shares of Cencora stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total value of $2,388,900.60. Following the sale, the chief executive officer now owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of the company’s 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 completion of the sale, the executive vice president now owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Steven H. Collis sold 10,755 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total value of $2,388,900.60. Following the sale, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The disclosure for this sale can be found here. In the last quarter, insiders have 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 Price Performance

Shares of NYSE COR opened at $223.88 on Friday. Cencora, Inc. has a 1-year low of $178.21 and a 1-year high of $247.66. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. The company has a fifty day moving average price of $234.94 and a 200 day moving average price of $232.82. The firm has a market cap of $44.65 billion, a PE ratio of 24.49, a PEG ratio of 1.58 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, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $73.32 billion. During the same period in the prior year, the firm earned $2.92 EPS. The business’s revenue was up 10.8% on a year-over-year basis. Research analysts predict that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders 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 dividend yield of 0.91%. The ex-dividend date of this dividend was Friday, August 9th. Cencora’s payout ratio is 22.32%.

Analyst Ratings Changes

COR has been the topic of several analyst reports. Bank of America reiterated a “neutral” rating and issued a $245.00 price objective (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Wells Fargo & Company raised their target price on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Leerink Partners restated an “outperform” rating and set a $275.00 target price on shares of Cencora in a research report on Thursday, June 27th. Finally, Robert W. Baird dropped their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research report on Friday, September 6th. Three equities research 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, Cencora presently has an average rating of “Moderate Buy” and an average price target of $256.67.

About Cencora

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.