Dakota Wealth Management Cuts Stake in Cencora, Inc. (NYSE:COR)

Dakota Wealth Management decreased its stake in Cencora, Inc. (NYSE:COR) by 49.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,819 shares of the company’s stock after selling 45,031 shares during the period. Dakota Wealth Management’s holdings in Cencora were worth $10,538,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Assenagon Asset Management S.A. boosted its holdings in Cencora by 462.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 132,364 shares of the company’s stock worth $29,792,000 after acquiring an additional 108,838 shares during the period. IFM Investors Pty Ltd lifted its position in shares of Cencora by 9.3% during the third quarter. IFM Investors Pty Ltd now owns 37,872 shares of the company’s stock worth $8,524,000 after purchasing an additional 3,211 shares in the last quarter. American Institute for Advanced Investment Management LLP purchased a new position in shares of Cencora in the third quarter valued at $2,870,000. Jackson Wealth Management LLC grew its holdings in Cencora by 67.5% during the 3rd quarter. Jackson Wealth Management LLC now owns 29,281 shares of the company’s stock valued at $6,591,000 after purchasing an additional 11,802 shares in the last quarter. Finally, Impact Partnership Wealth LLC increased its stake in Cencora by 2.6% during the 3rd quarter. Impact Partnership Wealth LLC now owns 2,042 shares of the company’s stock worth $460,000 after buying an additional 51 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Transactions at Cencora

In related news, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the transaction, the executive vice president now owns 10,948 shares in the company, valued at $2,656,970.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the sale, the insider now owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,461,153 shares of company stock worth $1,073,075,720. 15.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

COR has been the subject of several recent analyst reports. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Evercore ISI lowered their price objective on Cencora from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Wells Fargo & Company lifted their price objective on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Robert W. Baird reduced their target price on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $259.44.

Cencora Stock Performance

Shares of COR opened at $235.17 on Friday. The stock has a market capitalization of $46.91 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 1.40 and a beta of 0.44. The business’s fifty day moving average price is $232.22 and its 200 day moving average price is $230.91. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. Cencora, Inc. has a 12-month low of $182.75 and a 12-month high of $247.66.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period last year, the firm posted $2.92 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities research analysts forecast that Cencora, Inc. will post 13.63 EPS for the current year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Friday, August 9th. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

About Cencora

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.