Burgundy Asset Management Ltd. Sells 10,725 Shares of Cencora, Inc. $COR

Burgundy Asset Management Ltd. reduced its stake in shares of Cencora, Inc. (NYSE:COR) by 1.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 599,753 shares of the company’s stock after selling 10,725 shares during the period. Cencora comprises 1.7% of Burgundy Asset Management Ltd.’s investment portfolio, making the stock its 21st biggest position. Burgundy Asset Management Ltd. owned approximately 0.31% of Cencora worth $174,894,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of COR. Cornerstone Wealth Group LLC grew its holdings in Cencora by 1.3% during the third quarter. Cornerstone Wealth Group LLC now owns 2,383 shares of the company’s stock valued at $745,000 after purchasing an additional 30 shares during the period. Security Financial Services INC. lifted its position in shares of Cencora by 2.6% during the 3rd quarter. Security Financial Services INC. now owns 1,325 shares of the company’s stock valued at $414,000 after buying an additional 33 shares during the last quarter. Hemington Wealth Management grew its stake in shares of Cencora by 12.0% during the 3rd quarter. Hemington Wealth Management now owns 327 shares of the company’s stock worth $102,000 after acquiring an additional 35 shares during the period. Quadcap Wealth Management LLC increased its holdings in Cencora by 1.5% in the 2nd quarter. Quadcap Wealth Management LLC now owns 2,409 shares of the company’s stock worth $722,000 after acquiring an additional 36 shares during the last quarter. Finally, Howard Capital Management Inc. raised its stake in Cencora by 2.5% in the 3rd quarter. Howard Capital Management Inc. now owns 1,499 shares of the company’s stock valued at $468,000 after acquiring an additional 37 shares during the period. Institutional investors own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

COR has been the subject of several recent research reports. Barclays lifted their target price on shares of Cencora from $400.00 to $425.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. Evercore reduced their price objective on shares of Cencora from $440.00 to $420.00 and set an “outperform” rating for the company in a research note on Thursday, February 5th. JPMorgan Chase & Co. boosted their target price on shares of Cencora from $417.00 to $419.00 and gave the company an “overweight” rating in a report on Tuesday, February 10th. Mizuho raised their price target on Cencora from $340.00 to $380.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Finally, UBS Group lifted their price target on Cencora from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Cencora has a consensus rating of “Moderate Buy” and an average price target of $399.00.

Cencora Price Performance

Shares of NYSE COR opened at $368.48 on Thursday. The stock’s 50-day simple moving average is $353.51 and its two-hundred day simple moving average is $335.52. Cencora, Inc. has a twelve month low of $248.59 and a twelve month high of $377.54. The firm has a market capitalization of $71.68 billion, a P/E ratio of 44.29, a P/E/G ratio of 1.73 and a beta of 0.68. The company has a quick ratio of 0.51, a current ratio of 0.92 and a debt-to-equity ratio of 3.62.

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

Cencora Announces Dividend

The business also recently disclosed 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 was Friday, February 13th. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. Cencora’s dividend payout ratio (DPR) is 28.85%.

Insider Activity

In other news, EVP Elizabeth S. Campbell sold 3,351 shares of the company’s 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 approximately $8,173,111.10. This represents a 12.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Silvana Battaglia sold 1,677 shares of the company’s stock in a transaction dated Friday, December 19th. The stock was 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 owned 18,796 shares of the company’s stock, valued at $6,484,620. The trade was a 8.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 15,220 shares of company stock worth $5,282,867. 0.38% of the stock is currently owned by corporate insiders.

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.