TD Waterhouse Canada Inc. Reduces Stock Position in Cencora, Inc. $COR

TD Waterhouse Canada Inc. cut its holdings in Cencora, Inc. (NYSE:COR) by 52.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 65,385 shares of the company’s stock after selling 71,499 shares during the period. TD Waterhouse Canada Inc.’s holdings in Cencora were worth $18,863,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. United Bank raised its holdings in Cencora by 4.5% during the 2nd quarter. United Bank now owns 7,032 shares of the company’s stock valued at $2,109,000 after acquiring an additional 305 shares during the period. Nebula Research & Development LLC purchased a new stake in shares of Cencora during the second quarter worth $595,000. Treasurer of the State of North Carolina boosted its holdings in shares of Cencora by 7.9% in the second quarter. Treasurer of the State of North Carolina now owns 85,534 shares of the company’s stock worth $25,647,000 after acquiring an additional 6,244 shares during the period. Diversify Advisory Services LLC boosted its holdings in shares of Cencora by 94.1% in the second quarter. Diversify Advisory Services LLC now owns 2,585 shares of the company’s stock worth $747,000 after acquiring an additional 1,253 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Cencora by 26.0% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 73,452 shares of the company’s stock valued at $22,025,000 after purchasing an additional 15,154 shares in the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COR has been the topic of a number of analyst reports. Barclays decreased their price objective on Cencora from $425.00 to $350.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 10th. Wells Fargo & Company raised their target price on Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Evercore reaffirmed an “outperform” rating and set a $350.00 target price on shares of Cencora in a report on Thursday, August 6th. Robert W. Baird set a $370.00 price target on Cencora in a research report on Thursday, August 6th. Finally, Weiss Ratings raised shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $370.85.

Cencora Trading Down 2.0%

Cencora stock opened at $330.52 on Friday. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. Cencora, Inc. has a fifty-two week low of $244.82 and a fifty-two week high of $377.54. The stock has a market cap of $63.07 billion, a P/E ratio of 24.56, a PEG ratio of 1.91 and a beta of 0.57. The firm’s fifty day moving average price is $312.33 and its 200-day moving average price is $309.88.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.35 by $0.13. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The company had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. During the same quarter last year, the company earned $4.00 earnings per share. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. Equities research analysts forecast that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. Cencora’s payout ratio is presently 17.83%.

Cencora declared that its board has approved a share buyback plan on Thursday, May 21st that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Cencora

In related news, Director Lauren M. Tyler acquired 550 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were bought at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the transaction, the director owned 4,359 shares in the company, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Elizabeth Campbell sold 11,300 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the sale, the executive vice president directly owned 19,455 shares in the company, valued at $6,305,754.60. This represents a 36.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.38% of the stock is currently owned by corporate insiders.

Cencora Profile

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.