Invesco Ltd. Trims Stock Holdings in Cencora, Inc. $COR

Invesco Ltd. lowered its stake in Cencora, Inc. (NYSE:COR) by 0.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,006,113 shares of the company’s stock after selling 31,769 shares during the quarter. Invesco Ltd. owned about 2.07% of Cencora worth $1,252,030,000 at the end of the most recent quarter.

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

Cencora Stock Performance

NYSE:COR opened at $352.39 on Friday. The company has a fifty day simple moving average of $355.37 and a two-hundred day simple moving average of $337.70. The company has a market cap of $68.55 billion, a price-to-earnings ratio of 42.35, a price-to-earnings-growth 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. Cencora, Inc. has a 52 week low of $252.49 and a 52 week high of $377.54.

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

Cencora Dividend Announcement

The business 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. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. Cencora’s dividend payout ratio (DPR) is currently 28.85%.

Analyst Upgrades and Downgrades

COR has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on Cencora from $417.00 to $419.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Wall Street Zen cut Cencora from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Weiss Ratings upgraded Cencora from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, February 5th. Jefferies Financial Group raised Cencora from an “underperform” rating to a “buy” rating in a research note on Thursday, January 22nd. Finally, Evercore lowered their target price on 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cencora has an average rating of “Moderate Buy” and an average target price of $399.00.

Insider Activity

In other news, EVP Silvana Battaglia sold 1,677 shares of the business’s stock in a transaction dated Friday, December 19th. The stock was 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 of the company’s stock, valued at approximately $6,484,620. The trade was a 8.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth S. Campbell sold 3,351 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president owned 23,891 shares in the company, valued at $8,173,111.10. The trade was a 12.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 15,220 shares of company stock worth $5,282,867. 0.38% of the stock is currently owned by company insiders.

Cencora Company Profile

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.