Vontobel Holding Ltd. Lowers Position in Cencora, Inc. (NYSE:COR)

by · The Cerbat Gem

Vontobel Holding Ltd. cut its holdings in shares of Cencora, Inc. (NYSE:COR – Free Report) by 20.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,995 shares of the company’s stock after selling 1,250 shares during the quarter. Vontobel Holding Ltd.’s holdings in Cencora were worth $1,389,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of COR. Net Worth Advisory Group raised its position in shares of Cencora by 1.4% during the 1st quarter. Net Worth Advisory Group now owns 2,645 shares of the company’s stock worth $736,000 after acquiring an additional 36 shares in the last quarter. Whittier Trust Co. raised its position in shares of Cencora by 0.6% during the 4th quarter. Whittier Trust Co. now owns 7,856 shares of the company’s stock worth $1,765,000 after acquiring an additional 44 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in shares of Cencora by 1.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 4,463 shares of the company’s stock worth $1,003,000 after acquiring an additional 47 shares in the last quarter. Permanent Capital Management LP raised its position in shares of Cencora by 4.0% during the 1st quarter. Permanent Capital Management LP now owns 1,238 shares of the company’s stock worth $344,000 after acquiring an additional 48 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its position in Cencora by 4.5% during the first quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company’s stock worth $307,000 after buying an additional 48 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Trading Up 1.7%

Shares of COR stock opened at $296.23 on Friday. The business’s 50 day moving average is $291.12 and its two-hundred day moving average is $267.23. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35. The company has a market capitalization of $57.42 billion, a P/E ratio of 34.37, a price-to-earnings-growth ratio of 1.47 and a beta of 0.57. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01.

Cencora (NYSE:COR – Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating the consensus estimate of $4.07 by $0.35. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The company had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. During the same period last year, the business posted $3.80 EPS. The company’s revenue was up 10.3% on a year-over-year basis. Equities analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.74%. Cencora’s dividend payout ratio (DPR) is presently 25.52%.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total value of $4,266,106.98. Following the sale, the chairman directly owned 311,913 shares in the company, valued at $91,271,982.06. The trade was a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $289.33, for a total value of $1,437,680.77. Following the completion of the sale, the chief executive officer owned 47,582 shares in the company, valued at approximately $13,766,900.06. This trade represents a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,127 shares of company stock worth $9,812,296. Company insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on COR shares. Morgan Stanley set a $288.00 price target on Cencora in a research report on Tuesday, April 15th. Robert W. Baird lifted their price target on Cencora from $314.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. UBS Group lifted their price target on Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Bank of America lifted their price target on Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, April 11th. Finally, Wall Street Zen raised Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $306.33.

Get Our Latest Research Report on COR

Cencora Company Profile

(Free Report)

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.

Further Reading

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