Richard Bernstein Advisors LLC Reduces Stake in Cencora, Inc. $COR

Richard Bernstein Advisors LLC cut its holdings in Cencora, Inc. (NYSE:COR) by 56.9% during the 3rd quarter, Holdings Channel reports. The firm owned 9,338 shares of the company’s stock after selling 12,308 shares during the period. Richard Bernstein Advisors LLC’s holdings in Cencora were worth $2,918,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of COR. United Bank increased its position in Cencora by 4.5% in the second quarter. United Bank now owns 7,032 shares of the company’s stock worth $2,109,000 after buying an additional 305 shares during the period. Savant Capital LLC raised its position in shares of Cencora by 8.4% during the second quarter. Savant Capital LLC now owns 8,251 shares of the company’s stock worth $2,474,000 after purchasing an additional 639 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Cencora in the second quarter worth about $448,000. AE Wealth Management LLC raised its stake in Cencora by 6.6% during the 2nd quarter. AE Wealth Management LLC now owns 20,792 shares of the company’s stock valued at $6,234,000 after purchasing an additional 1,283 shares during the period. Finally, Los Angeles Capital Management LLC lifted its position in shares of Cencora by 1,475.4% in the second quarter. Los Angeles Capital Management LLC now owns 13,942 shares of the company’s stock worth $4,181,000 after purchasing an additional 13,057 shares in 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 topic of a number of recent research reports. Evercore cut their price target on shares of Cencora from $440.00 to $420.00 and set an “outperform” rating on the stock in a report on Thursday, February 5th. Wall Street Zen downgraded Cencora from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Jefferies Financial Group raised Cencora from an “underperform” rating to a “buy” rating in a report on Thursday, January 22nd. Wells Fargo & Company upped their target price on shares of Cencora from $405.00 to $429.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Finally, TD Cowen boosted their price objective on Cencora from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $399.00.

Cencora Trading Up 0.9%

Shares of COR stock opened at $361.80 on Tuesday. 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 firm has a 50 day moving average price of $354.60 and a two-hundred day moving average price of $337.09. Cencora, Inc. has a 12-month low of $251.94 and a 12-month high of $377.54. The company has a market capitalization of $70.38 billion, a PE ratio of 43.49, a price-to-earnings-growth ratio of 1.67 and a beta of 0.68.

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

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were paid 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 of this dividend was Friday, February 13th. Cencora’s payout ratio is currently 28.85%.

Insider Buying and Selling

In related news, CEO Robert P. Mauch sold 5,096 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The stock was 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 of the company’s stock, valued at approximately $23,669,713.98. This represents a 7.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 1,677 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $345.00, for a total transaction of $578,565.00. Following the completion of the transaction, the executive vice president directly owned 18,796 shares in the company, valued at $6,484,620. This trade represents a 8.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 15,220 shares of company stock valued at $5,282,867 over the last ninety days. 0.38% of the stock is 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.