Whittier Trust Co. Reduces Position in Cencora, Inc. (NYSE:COR)

Whittier Trust Co. lessened its holdings in shares of Cencora, Inc. (NYSE:COR) by 5.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,731 shares of the company’s stock after selling 413 shares during the period. Whittier Trust Co.’s holdings in Cencora were worth $1,742,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. purchased a new position in shares of Cencora during the fourth quarter valued at about $4,212,508,000. Price T Rowe Associates Inc. MD bought a new position in shares of Cencora in the 1st quarter worth approximately $2,183,619,000. JPMorgan Chase & Co. bought a new position in shares of Cencora in the 1st quarter worth approximately $1,199,695,000. Boston Partners purchased a new position in shares of Cencora in the 1st quarter valued at approximately $1,001,269,000. Finally, Capital Research Global Investors bought a new stake in shares of Cencora during the first quarter valued at approximately $650,424,000. 97.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the sale, the chief executive officer now owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Steven H. Collis sold 10,755 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the transaction, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 19,980,000 shares in the company, valued at $4,806,388,800. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,450,399 shares of company stock valued at $1,070,392,799. 15.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on COR shares. Robert W. Baird increased their price objective on Cencora from $285.00 to $287.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Leerink Partners reissued an “outperform” rating and set a $275.00 price target on shares of Cencora in a research report on Thursday, June 27th. StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Wells Fargo & Company raised their target price on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. boosted their price target on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $258.63.

Cencora Trading Up 0.5 %

NYSE:COR opened at $237.57 on Friday. The stock has a market cap of $47.38 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 1.68 and a beta of 0.45. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 3.93. The company’s 50 day moving average price is $231.79 and its 200-day moving average price is $232.87. Cencora, Inc. has a 52 week low of $171.65 and a 52 week high of $247.66.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.16. The business had revenue of $74.20 billion for the quarter, compared to analysts’ expectations of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.92 EPS. On average, equities research analysts forecast that Cencora, Inc. will post 13.56 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were issued a $0.51 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.04 annualized dividend and a yield of 0.86%. Cencora’s payout ratio is 22.32%.

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.