Cencora, Inc. (NYSE:COR) is TimesSquare Capital Management LLC’s 2nd Largest Position

TimesSquare Capital Management LLC trimmed its position in shares of Cencora, Inc. (NYSE:COR) by 14.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 466,298 shares of the company’s stock after selling 77,950 shares during the quarter. Cencora accounts for approximately 2.1% of TimesSquare Capital Management LLC’s investment portfolio, making the stock its 2nd largest position. TimesSquare Capital Management LLC’s holdings in Cencora were worth $129,673,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of COR. Independent Advisor Alliance grew its holdings in shares of Cencora by 64.7% in the fourth quarter. Independent Advisor Alliance now owns 1,659 shares of the company’s stock worth $373,000 after purchasing an additional 652 shares during the last quarter. Moors & Cabot Inc. grew its holdings in shares of Cencora by 3.4% in the fourth quarter. Moors & Cabot Inc. now owns 1,991 shares of the company’s stock worth $447,000 after purchasing an additional 66 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Cencora by 8.2% in the fourth quarter. Sequoia Financial Advisors LLC now owns 7,174 shares of the company’s stock worth $1,612,000 after purchasing an additional 544 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Cencora by 45.9% in the fourth quarter. Farther Finance Advisors LLC now owns 2,305 shares of the company’s stock worth $518,000 after purchasing an additional 725 shares during the last quarter. Finally, Avantax Advisory Services Inc. grew its holdings in shares of Cencora by 2.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 17,182 shares of the company’s stock worth $3,860,000 after purchasing an additional 351 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cencora

In other news, CEO Robert P. Mauch sold 4,969 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the sale, the chief executive officer owned 47,582 shares of the company’s stock, valued at $13,766,900.06. This trade represents a 9.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Steven H. Collis sold 14,579 shares of the firm’s stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total transaction 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,127 shares of company stock worth $9,812,296. 10.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Jefferies Financial Group upped their price target on shares of Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a report on Monday, June 30th. Robert W. Baird upped their price objective on shares of Cencora from $314.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Wells Fargo & Company raised shares of Cencora from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $274.00 to $337.00 in a research note on Tuesday, June 3rd. UBS Group upped their price objective on shares of Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Finally, Bank of America upped their price objective on shares of Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, April 11th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and a consensus target price of $306.33.

Cencora Stock Performance

COR opened at $295.07 on Monday. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $309.35. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. The company has a market cap of $57.19 billion, a P/E ratio of 34.23, a price-to-earnings-growth ratio of 1.46 and a beta of 0.57. The firm’s 50-day moving average price is $291.91 and its 200-day moving average price is $270.29.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The firm had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. During the same quarter in the prior year, the company posted $3.80 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, equities analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were issued a $0.55 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.20 annualized dividend and a yield of 0.75%. Cencora’s dividend payout ratio (DPR) is presently 25.52%.

Cencora Company 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.