Cencora, Inc. $COR Shares Sold by Burney Co.

Burney Co. decreased its holdings in shares of Cencora, Inc. (NYSE:COR) by 8.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,948 shares of the company’s stock after selling 9,794 shares during the period. Cencora comprises about 1.0% of Burney Co.’s portfolio, making the stock its 18th largest holding. Burney Co. owned approximately 0.05% of Cencora worth $30,269,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Voleon Capital Management LP acquired a new stake in Cencora during the 1st quarter worth about $3,111,000. Focus Partners Wealth increased its holdings in Cencora by 25.8% in the first quarter. Focus Partners Wealth now owns 5,715 shares of the company’s stock worth $1,589,000 after buying an additional 1,171 shares during the last quarter. Martin Capital Partners LLC increased its holdings in Cencora by 205.2% in the second quarter. Martin Capital Partners LLC now owns 3,784 shares of the company’s stock worth $1,135,000 after buying an additional 2,544 shares during the last quarter. Fiduciary Alliance LLC acquired a new position in Cencora in the second quarter worth approximately $262,000. Finally, Ascent Group LLC grew its holdings in Cencora by 42.7% during the first quarter. Ascent Group LLC now owns 12,586 shares of the company’s stock valued at $3,500,000 after purchasing an additional 3,764 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Performance

Shares of NYSE:COR opened at $337.60 on Monday. The stock has a market capitalization of $65.45 billion, a P/E ratio of 34.73, a P/E/G ratio of 1.56 and a beta of 0.63. Cencora, Inc. has a 1-year low of $223.92 and a 1-year high of $350.46. The business has a 50-day moving average price of $308.09 and a two-hundred day moving average price of $297.19. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $0.21. The company had revenue of $80.66 billion during the quarter, compared to analyst estimates of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.34 EPS. Equities analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora’s payout ratio is presently 22.63%.

Insider Activity

In related news, CEO Robert P. Mauch sold 5,097 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $326.80, for a total value of $1,665,699.60. Following the completion of the transaction, the chief executive officer directly owned 37,940 shares in the company, valued at approximately $12,398,792. The trade was a 11.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Steven H. Collis sold 31,350 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total value of $9,087,111.00. Following the completion of the transaction, the chairman owned 305,913 shares of the company’s stock, valued at $88,671,942.18. This represents a 9.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 41,544 shares of company stock valued at $12,230,941 over the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. UBS Group increased their price target on Cencora from $350.00 to $380.00 and gave the company a “buy” rating in a report on Monday, October 27th. Wells Fargo & Company lifted their price target on shares of Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. Wall Street Zen downgraded shares of Cencora from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Mizuho lifted their price objective on Cencora from $334.00 to $340.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Evercore ISI set a $340.00 price objective on Cencora in a report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $329.55.

Cencora Company Profile

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.