Tidal Investments LLC Sells 11,126 Shares of Cencora, Inc. $COR

Tidal Investments LLC cut its holdings in Cencora, Inc. (NYSE:COR) by 28.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,973 shares of the company’s stock after selling 11,126 shares during the period. Tidal Investments LLC’s holdings in Cencora were worth $7,916,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. United Bank boosted its position in shares of Cencora by 4.5% during the second quarter. United Bank now owns 7,032 shares of the company’s stock worth $2,109,000 after acquiring an additional 305 shares during the last quarter. Nebula Research & Development LLC bought a new stake in Cencora in the 2nd quarter valued at $595,000. Treasurer of the State of North Carolina increased its holdings in Cencora by 7.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 85,534 shares of the company’s stock valued at $25,647,000 after acquiring an additional 6,244 shares during the last quarter. Diversify Advisory Services LLC lifted its stake in Cencora by 94.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 2,585 shares of the company’s stock worth $747,000 after purchasing an additional 1,253 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Cencora by 26.0% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 73,452 shares of the company’s stock worth $22,025,000 after purchasing an additional 15,154 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Lauren M. Tyler acquired 550 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was acquired at an average price of $270.23 per share, with a total value of $148,626.50. Following the completion of the purchase, the director directly owned 4,359 shares in the company, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the transaction, the executive vice president owned 19,455 shares of the company’s stock, valued at $6,305,754.60. This trade represents a 36.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.38% of the company’s stock.

Cencora Trading Up 0.2%

Shares of COR stock opened at $321.44 on Friday. The stock’s 50 day simple moving average is $315.82 and its two-hundred day simple moving average is $308.62. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. The company has a market cap of $61.34 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 1.82 and a beta of 0.57. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.35 by $0.13. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The company had revenue of $84.75 billion during the quarter, compared to the consensus estimate of $84.31 billion. During the same period last year, the company earned $4.00 earnings per share. Cencora’s revenue was up 5.1% on a year-over-year basis. Research analysts predict that Cencora, Inc. will post 17.87 earnings per share for the current year.

Cencora declared that its board has initiated a share buyback plan on Thursday, May 21st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to buy up to 3.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. Cencora’s payout ratio is currently 17.83%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Robert W. Baird set a $370.00 price objective on Cencora in a research report on Thursday, August 6th. Morgan Stanley boosted their target price on Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Royal Bank Of Canada reissued a “sector perform” rating and set a $330.00 price target on shares of Cencora in a research note on Tuesday, September 8th. JPMorgan Chase & Co. raised their price target on Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Evercore reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of Cencora in a research note on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Cencora presently has a consensus rating of “Moderate Buy” and a consensus target price of $370.85.

About Cencora

Cencora, Inc (NYSE:COR) is a global healthcare company that provides pharmaceutical sourcing, distribution and related services. The company connects biopharmaceutical manufacturers with pharmacies, hospitals, health systems, physician practices and other healthcare providers, helping move prescription medicines and healthcare products through the supply chain.

Cencora’s operations include pharmaceutical distribution, specialty pharmaceutical services, manufacturer support and patient-centered solutions.