Louisbourg Investments Inc. Decreases Stake in Cencora, Inc. $COR

Louisbourg Investments Inc. lowered its stake in shares of Cencora, Inc. (NYSE:COR) by 21.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 473 shares of the company’s stock after selling 127 shares during the period. Louisbourg Investments Inc.’s holdings in Cencora were worth $142,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of COR. Invesco Ltd. increased its stake in shares of Cencora by 42.1% during the 1st quarter. Invesco Ltd. now owns 4,607,964 shares of the company’s stock worth $1,281,429,000 after purchasing an additional 1,364,433 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Cencora by 4,459.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 997,233 shares of the company’s stock worth $277,321,000 after purchasing an additional 975,362 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Cencora by 8.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company’s stock worth $2,682,821,000 after purchasing an additional 787,858 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Cencora during the 1st quarter worth approximately $181,284,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Cencora by 144.4% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 743,072 shares of the company’s stock worth $206,641,000 after purchasing an additional 439,008 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Evercore ISI set a $340.00 price target on shares of Cencora in a research note on Wednesday. Wall Street Zen lowered shares of Cencora from a “buy” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company lifted their price objective on shares of Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cencora in a research note on Wednesday. Finally, Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $320.00.

Cencora Stock Up 1.2%

COR opened at $318.01 on Friday. The company has a fifty day moving average price of $296.99 and a 200-day moving average price of $291.60. The firm has a market capitalization of $61.66 billion, a P/E ratio of 32.72, a price-to-earnings-growth ratio of 1.47 and a beta of 0.63. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. Cencora, Inc. has a one year low of $221.95 and a one year high of $319.68.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The company had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. During the same period in the previous year, the firm posted $3.34 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. Equities research analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.20 annualized dividend and a yield of 0.7%. Cencora’s payout ratio is currently 22.63%.

Insider Buying and Selling at Cencora

In other news, CEO Robert P. Mauch sold 5,097 shares of the company’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the completion of the transaction, the chief executive officer directly owned 39,274 shares of the company’s stock, valued at approximately $11,389,460. This represents a 11.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 31,350 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the transaction, the chairman directly owned 305,913 shares of the company’s stock, valued at approximately $88,671,942.18. This trade represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,993 shares of company stock valued at $16,292,923 over the last three months. 10.80% of the stock is currently owned by insiders.

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.