WBI Investments LLC Decreases Position in Cencora, Inc. $COR

WBI Investments LLC lowered its stake in Cencora, Inc. (NYSE:COR) by 49.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,927 shares of the company’s stock after selling 1,899 shares during the quarter. WBI Investments LLC’s holdings in Cencora were worth $602,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COR. Centaurus Financial Inc. lifted its position in shares of Cencora by 26.0% during the third quarter. Centaurus Financial Inc. now owns 3,494 shares of the company’s stock worth $1,092,000 after purchasing an additional 722 shares in the last quarter. Danske Bank A S purchased a new stake in Cencora during the 3rd quarter worth $95,614,000. Advisory Services Network LLC lifted its holdings in Cencora by 20.8% in the 3rd quarter. Advisory Services Network LLC now owns 3,785 shares of the company’s stock worth $1,183,000 after buying an additional 653 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Cencora by 2,917.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 56,575 shares of the company’s stock valued at $17,676,000 after purchasing an additional 54,700 shares in the last quarter. Finally, OmniStar Financial Group Inc. lifted its position in shares of Cencora by 35.1% during the third quarter. OmniStar Financial Group Inc. now owns 5,216 shares of the company’s stock worth $1,630,000 after purchasing an additional 1,354 shares during the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Price Performance

Shares of COR opened at $325.50 on Thursday. Cencora, Inc. has a 12 month low of $262.73 and a 12 month 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 has a fifty day moving average price of $355.15 and a 200 day moving average price of $339.41. The company has a market cap of $63.32 billion, a P/E ratio of 39.12, a PEG ratio of 1.56 and a beta of 0.68.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.04 by $0.04. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The company had revenue of $85.93 billion during the quarter, compared to the consensus estimate of $86.12 billion. During the same quarter in the previous year, the company posted $3.73 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. Cencora’s payout ratio is 28.85%.

Insider Activity

In related news, CEO Robert P. Mauch sold 5,096 shares of the stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $354.73, for a total value of $1,807,704.08. Following the completion of the transaction, the chief executive officer owned 66,726 shares in the company, valued at $23,669,713.98. This trade represents a 7.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth S. Campbell sold 3,351 shares of Cencora stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $342.10, for a total value 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 $8,173,111.10. This represents a 12.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 10,124 shares of company stock valued at $3,532,646 over the last three months. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on COR shares. Weiss Ratings raised Cencora from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, February 5th. Morgan Stanley set a $380.00 price objective on Cencora in a research note on Tuesday. Evercore reiterated an “outperform” rating on shares of Cencora in a research note on Tuesday. Jefferies Financial Group raised shares of Cencora from an “underperform” rating to a “buy” rating in a report on Thursday, January 22nd. Finally, Robert W. Baird set a $415.00 price target on shares of Cencora in a research report on Tuesday, January 13th. Twelve investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $403.17.

About Cencora

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.