Mn Services Vermogensbeheer B.V. Reduces Stock Position in Cencora, Inc. (NYSE:COR)

Mn Services Vermogensbeheer B.V. trimmed its position in Cencora, Inc. (NYSE:COR) by 2.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,000 shares of the company’s stock after selling 2,000 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Cencora were worth $15,095,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in shares of Cencora in the first quarter valued at approximately $25,000. Legacy Bridge LLC purchased a new stake in Cencora in the 1st quarter worth approximately $27,000. TCTC Holdings LLC acquired a new position in Cencora in the 1st quarter valued at $29,000. TFO Wealth Partners LLC purchased a new position in shares of Cencora during the 1st quarter worth $30,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Cencora during the second quarter worth $30,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Steven H. Collis sold 10,755 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the completion of the sale, the chief executive officer now owns 285,088 shares in the company, valued at $63,323,746.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Steven H. Collis sold 10,755 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at $63,323,746.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the sale, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The disclosure for this sale can be found here. Insiders have sold a total of 4,479,366 shares of company stock worth $1,076,666,297 over the last quarter. 15.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wells Fargo & Company upped their target price on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. SVB Leerink reaffirmed an “outperform” rating and set a $275.00 price objective on shares of Cencora in a research note on Thursday, June 27th. JPMorgan Chase & Co. raised their target price on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday. Robert W. Baird boosted their target price on shares of Cencora from $285.00 to $287.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.63.

Cencora Trading Down 1.2 %

COR traded down $2.85 on Friday, reaching $237.74. 1,170,844 shares of the company’s stock were exchanged, compared to its average volume of 1,367,834. Cencora, Inc. has a twelve month low of $171.65 and a twelve month high of $247.66. The company’s 50 day moving average is $231.85 and its 200-day moving average is $232.79. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.53 and a current ratio of 0.89. The company has a market cap of $47.42 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 1.68 and a beta of 0.45.

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, 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 during the quarter, compared to analyst estimates of $73.32 billion. During the same quarter in the prior year, the business earned $2.92 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities analysts predict that Cencora, Inc. will post 13.56 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 9th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, August 9th. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

Cencora 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.