Natixis Advisors LLC Reduces Holdings in Cencora, Inc. (NYSE:COR)

Natixis Advisors LLC trimmed its stake in Cencora, Inc. (NYSE:COR) by 14.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 133,830 shares of the company’s stock after selling 23,117 shares during the quarter. Natixis Advisors LLC’s holdings in Cencora were worth $30,152,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Financial Advocates Investment Management lifted its position in shares of Cencora by 4.7% in the 2nd quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock worth $220,000 after purchasing an additional 44 shares during the period. Checchi Capital Advisers LLC lifted its position in Cencora by 2.2% during the 2nd quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock valued at $499,000 after acquiring an additional 48 shares during the period. Valeo Financial Advisors LLC lifted its position in Cencora by 3.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,566 shares of the company’s stock valued at $353,000 after acquiring an additional 51 shares during the period. Barlow Wealth Partners Inc. increased its stake in Cencora by 5.4% during the 2nd quarter. Barlow Wealth Partners Inc. now owns 1,339 shares of the company’s stock valued at $303,000 after purchasing an additional 68 shares in the last quarter. Finally, Tevis Investment Management increased its stake in Cencora by 4.9% during the 2nd quarter. Tevis Investment Management now owns 1,476 shares of the company’s stock valued at $333,000 after purchasing an additional 69 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Performance

COR stock opened at $239.57 on Tuesday. The firm has a market cap of $47.78 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 1.57 and a beta of 0.45. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. The firm has a 50-day simple moving average of $231.86 and a two-hundred day simple moving average of $233.00. Cencora, Inc. has a one year low of $171.65 and a one year high of $247.66.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The company had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. During the same quarter in the prior year, the company earned $2.92 EPS. Cencora’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities analysts forecast that Cencora, Inc. will post 13.61 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.85%. Cencora’s payout ratio is 22.32%.

Analyst Upgrades and Downgrades

COR has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective 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. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Leerink Partners restated an “outperform” rating and set a $275.00 price objective on shares of Cencora in a research note on Thursday, June 27th. Finally, Robert W. Baird raised their price objective on shares of Cencora from $285.00 to $287.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $258.63.

Insider Transactions at Cencora

In related news, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value of $357,482.37. Following the sale, the executive vice president now owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the transaction, the executive vice president now owns 10,948 shares in the company, valued at approximately $2,656,970.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 shares were 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 approximately $4,806,388,800. The disclosure for this sale can be found here. Insiders have sold 4,450,399 shares of company stock valued at $1,070,392,799 in the last 90 days. 15.80% of the stock is currently owned by company insiders.

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.