Tocqueville Asset Management L.P. Has $20.37 Million Stake in Cencora, Inc. $COR

Tocqueville Asset Management L.P. lowered its holdings in shares of Cencora, Inc. (NYSE:COR) by 29.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,168 shares of the company’s stock after selling 27,669 shares during the period. Tocqueville Asset Management L.P.’s holdings in Cencora were worth $20,367,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Cencora by 4.1% during the third quarter. Vanguard Group Inc. now owns 23,395,547 shares of the company’s stock worth $7,311,810,000 after purchasing an additional 916,506 shares during the period. Geode Capital Management LLC increased its position in shares of Cencora by 6.3% during the second quarter. Geode Capital Management LLC now owns 4,787,609 shares of the company’s stock valued at $1,429,772,000 after acquiring an additional 284,229 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Cencora by 21.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,677,797 shares of the company’s stock valued at $1,461,965,000 after purchasing an additional 821,098 shares during the last quarter. Capital Research Global Investors raised its position in Cencora by 0.6% in the third quarter. Capital Research Global Investors now owns 2,661,033 shares of the company’s stock worth $831,653,000 after acquiring an additional 15,714 shares during the period. Finally, Norges Bank purchased a new position in Cencora in the second quarter valued at approximately $695,215,000. 97.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on COR. Jefferies Financial Group raised Cencora from an “underperform” rating to a “buy” rating in a report on Thursday, January 22nd. JPMorgan Chase & Co. upped their price objective on shares of Cencora from $417.00 to $419.00 and gave the company an “overweight” rating in a report on Tuesday, February 10th. Bank of America cut their target price on shares of Cencora from $380.00 to $360.00 and set a “neutral” rating for the company in a research report on Monday, January 5th. 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. Finally, Evercore dropped their price target on shares of Cencora from $440.00 to $420.00 and set an “outperform” rating on the stock in a research note on Thursday, February 5th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $399.00.

Cencora Price Performance

Shares of COR stock traded down $1.61 on Friday, reaching $351.04. The company’s stock had a trading volume of 106,491 shares, compared to its average volume of 1,178,933. The company has a market capitalization of $68.29 billion, a P/E ratio of 42.22, a PEG ratio of 1.63 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. The stock’s 50 day simple moving average is $355.37 and its 200-day simple moving average is $337.70. Cencora, Inc. has a 12-month low of $252.49 and a 12-month high of $377.54.

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. Cencora had a return on equity of 176.54% and a net margin of 0.50%.The company had revenue of $85.93 billion during the quarter, compared to analyst estimates of $86.12 billion. During the same quarter in the previous year, the firm earned $3.73 earnings per share. Cencora’s revenue was up 5.5% on a year-over-year basis. As a group, equities analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

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

Insider Buying and Selling at Cencora

In other Cencora news, CEO Robert P. Mauch sold 5,096 shares of the stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $354.73, for a total transaction of $1,807,704.08. Following the transaction, the chief executive officer directly owned 66,726 shares in the company, valued at $23,669,713.98. This trade represents a 7.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Elizabeth S. Campbell sold 3,351 shares of Cencora stock in a transaction on Friday, December 19th. The stock was sold at an average price of $342.10, for a total transaction of $1,146,377.10. Following the completion of the transaction, the executive vice president owned 23,891 shares in the company, valued at approximately $8,173,111.10. The trade was a 12.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 15,220 shares of company stock worth $5,282,867 over the last ninety days. Insiders own 0.38% of the company’s stock.

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.