Van ECK Associates Corp Sells 30,308 Shares of Cencora, Inc. (NYSE:COR)

Van ECK Associates Corp cut its stake in Cencora, Inc. (NYSE:COR) by 17.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,942 shares of the company’s stock after selling 30,308 shares during the period. Van ECK Associates Corp owned 0.07% of Cencora worth $32,205,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in COR. Rise Advisors LLC bought a new stake in shares of Cencora in the 1st quarter valued at $25,000. New Millennium Group LLC bought a new stake in Cencora during the second quarter valued at $26,000. Legacy Bridge LLC bought a new stake in Cencora during the first quarter valued at $27,000. TCTC Holdings LLC bought a new position in shares of Cencora in the 1st quarter worth about $29,000. Finally, TFO Wealth Partners LLC bought a new position in shares of Cencora in the 1st quarter worth about $30,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the completion of the sale, the insider now owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the sale, the insider now directly owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the transaction, the executive vice president now owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,450,399 shares of company stock valued at $1,070,392,799. 15.80% of the stock is owned by company insiders.

Cencora Stock Up 0.8 %

Shares of COR traded up $1.97 during trading hours on Friday, reaching $239.57. 1,229,115 shares of the stock traded hands, compared to its average volume of 1,361,154. Cencora, Inc. has a 52 week low of $171.65 and a 52 week high of $247.66. The company has a market cap of $47.78 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 1.68 and a beta of 0.45. The stock has a fifty day simple moving average of $231.85 and a 200 day simple moving average of $232.93. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.93.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. The firm had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.92 EPS. On average, equities analysts forecast that Cencora, Inc. will post 13.56 EPS for the current year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend was Friday, August 9th. Cencora’s dividend payout ratio is currently 22.32%.

Analysts Set New Price Targets

A number of brokerages have weighed in on COR. Leerink Partners reiterated an “outperform” rating and issued a $275.00 target price on shares of Cencora in a report on Thursday, June 27th. JPMorgan Chase & Co. lifted their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Robert W. Baird increased their target price on shares of Cencora from $285.00 to $287.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company upped their price objective on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $258.63.

About Cencora

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.