TimesSquare Capital Management LLC Sells 22,292 Shares of Cencora, Inc. $COR

TimesSquare Capital Management LLC cut its stake in shares of Cencora, Inc. (NYSE:COR) by 4.8% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 443,601 shares of the company’s stock after selling 22,292 shares during the period. Cencora makes up approximately 2.0% of TimesSquare Capital Management LLC’s holdings, making the stock its 2nd largest holding. TimesSquare Capital Management LLC owned about 0.23% of Cencora worth $138,639,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Aberdeen Group plc raised its position in shares of Cencora by 5.4% during the 3rd quarter. Aberdeen Group plc now owns 158,564 shares of the company’s stock worth $48,849,000 after buying an additional 8,076 shares in the last quarter. Cidel Asset Management Inc. lifted its holdings in shares of Cencora by 7.0% during the 3rd quarter. Cidel Asset Management Inc. now owns 930 shares of the company’s stock valued at $291,000 after buying an additional 61 shares during the last quarter. CENTRAL TRUST Co grew its stake in shares of Cencora by 116.0% in the 3rd quarter. CENTRAL TRUST Co now owns 3,500 shares of the company’s stock valued at $1,094,000 after buying an additional 1,880 shares in the last quarter. Rothschild Capital Partners LLC bought a new stake in Cencora in the third quarter worth approximately $200,000. Finally, Longbow Finance SA acquired a new stake in shares of Cencora in the 3rd quarter valued at $10,553,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Stock Up 2.7%

NYSE COR opened at $360.59 on Friday. The firm has a market cap of $69.95 billion, a PE ratio of 43.34, a price-to-earnings-growth ratio of 1.66 and a beta of 0.68. Cencora, Inc. has a one year low of $237.71 and a one year high of $377.54. The company has a debt-to-equity ratio of 3.62, a current ratio of 0.92 and a quick ratio of 0.51. The stock’s 50 day simple moving average is $347.51 and its 200 day simple moving average is $328.62.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $4.04 by $0.04. The business had revenue of $85.93 billion during the quarter, compared to analysts’ expectations of $86.12 billion. Cencora had a return on equity of 176.54% and a net margin of 0.50%.The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.73 earnings per share. As a group, sell-side analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 13th will be issued a $0.60 dividend. The ex-dividend date is Friday, February 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. Cencora’s dividend payout ratio (DPR) is 28.85%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on COR shares. Evercore cut their target price on Cencora from $440.00 to $420.00 and set an “outperform” rating on the stock in a report on Thursday, February 5th. TD Cowen upped their target price on Cencora from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Bank of America reduced their price objective on shares of Cencora from $380.00 to $360.00 and set a “neutral” rating for the company in a research note on Monday, January 5th. JPMorgan Chase & Co. raised their target price on shares of Cencora from $417.00 to $419.00 and gave the company an “overweight” rating in a research note on Tuesday, February 10th. Finally, Wells Fargo & Company boosted their target price on shares of Cencora from $405.00 to $429.00 and gave the stock an “overweight” rating in a research report on Tuesday. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $399.00.

Insiders Place Their Bets

In related news, EVP Silvana Battaglia sold 1,677 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $345.00, for a total value of $578,565.00. Following the completion of the transaction, the executive vice president directly owned 18,796 shares of the company’s stock, valued at approximately $6,484,620. This trade represents a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth S. Campbell sold 3,351 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $342.10, for a total transaction of $1,146,377.10. Following the completion of the transaction, the executive vice president directly owned 23,891 shares in the company, valued at approximately $8,173,111.10. This represents a 12.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 20,316 shares of company stock valued at $7,151,265 in the last three months. 0.38% of the stock is currently owned by corporate insiders.

Cencora Profile

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.