Pitcairn Co. Sells 6,878 Shares of Cencora, Inc. $COR

Pitcairn Co. lowered its stake in Cencora, Inc. (NYSE:COR) by 49.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,945 shares of the company’s stock after selling 6,878 shares during the period. Pitcairn Co.’s holdings in Cencora were worth $2,171,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in Cencora in the 2nd quarter valued at about $695,215,000. Mizuho Markets Americas LLC lifted its holdings in shares of Cencora by 116.4% during the 3rd quarter. Mizuho Markets Americas LLC now owns 212,800 shares of the company’s stock worth $66,506,000 after acquiring an additional 1,511,906 shares during the period. Artisan Partners Limited Partnership acquired a new stake in shares of Cencora during the 2nd quarter worth approximately $411,888,000. Vanguard Group Inc. boosted its position in shares of Cencora by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 22,479,041 shares of the company’s stock worth $6,740,340,000 after acquiring an additional 1,125,661 shares in the last quarter. Finally, Viking Global Investors LP increased its stake in Cencora by 95.0% in the second quarter. Viking Global Investors LP now owns 2,081,732 shares of the company’s stock valued at $624,207,000 after acquiring an additional 1,013,913 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

COR has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on Cencora from $405.00 to $429.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Bank of America dropped their price objective on Cencora from $380.00 to $360.00 and set a “neutral” rating for the company in a research report on Monday, January 5th. Barclays raised their price objective on Cencora from $400.00 to $425.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. UBS Group lifted their target price on Cencora from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, Evercore dropped their target price on shares of Cencora from $440.00 to $420.00 and set an “outperform” rating for the company in a report on Thursday, February 5th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $399.00.

Cencora Trading Down 2.5%

NYSE COR opened at $359.05 on Friday. The company has a market cap of $69.85 billion, a price-to-earnings ratio of 43.16, a price-to-earnings-growth ratio of 1.72 and a beta of 0.68. Cencora, Inc. has a twelve month low of $248.59 and a twelve month high of $377.54. The company has a quick ratio of 0.51, a current ratio of 0.92 and a debt-to-equity ratio of 3.62. The business’s fifty day moving average is $353.83 and its 200 day moving average is $335.69.

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

Cencora Dividend Announcement

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

Insider Buying and Selling at Cencora

In related news, CEO Robert P. Mauch sold 5,096 shares of the business’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $354.73, for a total value of $1,807,704.08. Following the sale, the chief executive officer owned 66,726 shares of the company’s stock, valued at $23,669,713.98. The trade was a 7.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Elizabeth S. Campbell sold 3,351 shares of the stock in a transaction on Friday, December 19th. The shares were sold at an average price of $342.10, for a total value of $1,146,377.10. Following the completion of the sale, the executive vice president owned 23,891 shares of the company’s stock, valued at $8,173,111.10. The trade was a 12.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 15,220 shares of company stock worth $5,282,867. 0.38% of the stock is currently owned by company 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.