AGF Management Ltd. Sells 2,190 Shares of Cencora, Inc. (NYSE:COR)

AGF Management Ltd. cut its position in shares of Cencora, Inc. (NYSE:COR) by 14.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,254 shares of the company’s stock after selling 2,190 shares during the period. AGF Management Ltd.’s holdings in Cencora were worth $2,978,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in COR. Pacer Advisors Inc. boosted its position in shares of Cencora by 6,855.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after acquiring an additional 2,035,679 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Cencora during the fourth quarter valued at $322,460,000. Wellington Management Group LLP raised its stake in Cencora by 7.0% during the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after purchasing an additional 338,452 shares in the last quarter. Amundi lifted its position in Cencora by 30.8% during the fourth quarter. Amundi now owns 1,338,710 shares of the company’s stock valued at $318,385,000 after purchasing an additional 314,846 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Cencora by 40.2% in the 4th quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock worth $243,173,000 after buying an additional 308,773 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Price Performance

Shares of COR stock opened at $253.88 on Thursday. The firm has a market capitalization of $49.23 billion, a price-to-earnings ratio of 36.11, a PEG ratio of 1.31 and a beta of 0.51. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. The stock’s 50-day simple moving average is $246.39 and its 200-day simple moving average is $238.81. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $263.70.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. As a group, equities analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 0.87%. Cencora’s dividend payout ratio (DPR) is 31.29%.

Insiders Place Their Bets

In related news, CEO Robert P. Mauch sold 4,970 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $255.00, for a total value of $1,267,350.00. Following the transaction, the chief executive officer now owns 51,070 shares in the company, valued at approximately $13,022,850. This represents a 8.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lazarus Krikorian sold 2,000 shares of Cencora stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $260.06, for a total transaction of $520,120.00. Following the sale, the chief accounting officer now owns 20,154 shares of the company’s stock, valued at approximately $5,241,249.24. The trade was a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,648 shares of company stock valued at $3,382,462. 10.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on COR. StockNews.com raised shares of Cencora from a “hold” rating to a “buy” rating in a report on Wednesday. Wells Fargo & Company lifted their target price on Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price target on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Evercore ISI lifted their price objective on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Mizuho began coverage on shares of Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price on the stock. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Cencora has an average rating of “Moderate Buy” and a consensus target price of $277.90.

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.