Canada Pension Plan Investment Board Has $10.59 Million Stock Position in Cencora, Inc. (NYSE:COR)

Canada Pension Plan Investment Board decreased its position in Cencora, Inc. (NYSE:COR) by 59.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 46,997 shares of the company’s stock after selling 68,796 shares during the period. Canada Pension Plan Investment Board’s holdings in Cencora were worth $10,588,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in shares of Cencora in the first quarter worth $25,000. New Millennium Group LLC acquired a new stake in Cencora during the 2nd quarter worth about $26,000. Legacy Bridge LLC purchased a new position in Cencora during the 1st quarter valued at about $27,000. TCTC Holdings LLC acquired a new position in shares of Cencora in the 1st quarter valued at about $29,000. Finally, TFO Wealth Partners LLC purchased a new stake in shares of Cencora in the first quarter worth approximately $30,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Robert W. Baird dropped their price objective on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. Leerink Partners reaffirmed an “outperform” rating and issued a $275.00 price target on shares of Cencora in a research note on Thursday, June 27th. JPMorgan Chase & Co. lifted their price objective on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Bank of America reaffirmed a “neutral” rating and issued a $245.00 target price (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Finally, StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday. Three 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $256.67.

Cencora Stock Up 0.1 %

COR opened at $228.36 on Tuesday. The firm has a market cap of $45.55 billion, a P/E 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 quick ratio of 0.55 and a current ratio of 0.89. The business has a 50 day moving average price of $234.97 and a 200 day moving average price of $233.04. Cencora, Inc. has a twelve month low of $178.21 and a twelve month high of $247.66.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping 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 business had revenue of $74.20 billion during the quarter, compared to the consensus estimate of $73.32 billion. During the same period in the prior year, the firm earned $2.92 EPS. Cencora’s quarterly revenue was up 10.8% compared to the same quarter last year. Research analysts forecast that Cencora, Inc. will post 13.63 EPS for the current year.

Cencora Dividend Announcement

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

Insider Activity

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction on 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 approximately $4,806,388,800. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, 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 completion of the transaction, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $4,806,388,800. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,450,399 shares of company stock valued at $1,070,392,799. 15.80% of the stock is owned by company insiders.

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.