Generate Investment Management Ltd Trims Stock Position in Cencora, Inc. $COR

Generate Investment Management Ltd trimmed its holdings in Cencora, Inc. (NYSE:COR) by 41.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 17,857 shares of the company’s stock after selling 12,886 shares during the period. Generate Investment Management Ltd’s holdings in Cencora were worth $5,354,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its position in shares of Cencora by 106.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock worth $26,000 after purchasing an additional 48 shares during the last quarter. Hoey Investments Inc. purchased a new position in Cencora during the first quarter worth about $28,000. Costello Asset Management INC acquired a new stake in shares of Cencora during the first quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Cencora in the 1st quarter valued at approximately $39,000. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Cencora by 157.6% in the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock worth $47,000 after acquiring an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on COR shares. Jefferies Financial Group increased their price objective on shares of Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research report on Monday, June 30th. Wells Fargo & Company upped their target price on shares of Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. Finally, Morgan Stanley set a $330.00 target price on shares of Cencora and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $311.25.

Cencora Trading Up 2.7%

Shares of COR opened at $306.94 on Monday. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $310.00. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. The firm has a market capitalization of $59.51 billion, a P/E ratio of 31.58, a PEG ratio of 1.56 and a beta of 0.62. The firm’s 50-day moving average is $293.00 and its two-hundred day moving average is $288.82.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping the consensus estimate of $3.79 by $0.21. The business had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.34 EPS. On average, research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were given a $0.55 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. Cencora’s dividend payout ratio (DPR) is currently 22.63%.

Insider Buying and Selling at Cencora

In other news, CEO Robert P. Mauch sold 5,097 shares of Cencora stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the completion of the transaction, the chief executive officer owned 39,274 shares of the company’s stock, valued at $11,389,460. The trade was a 11.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of the sale, the chairman directly owned 305,913 shares in the company, valued at approximately $88,671,942.18. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,993 shares of company stock valued at $16,292,923 in the last ninety days. Corporate insiders own 10.80% of the company’s stock.

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.