Generali Asset Management SPA SGR Grows Holdings in Cencora, Inc. $COR

Generali Asset Management SPA SGR grew its stake in shares of Cencora, Inc. (NYSE:COR) by 38.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,978 shares of the company’s stock after buying an additional 7,708 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Cencora were worth $8,389,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC raised its position in Cencora by 106.7% during the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock valued at $26,000 after purchasing an additional 48 shares in the last quarter. Costello Asset Management INC bought a new position in shares of Cencora during the 1st quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Cencora during the 1st quarter valued at about $39,000. Golden State Wealth Management LLC lifted its position in Cencora by 157.6% in the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock worth $47,000 after buying an additional 104 shares during the last quarter. Finally, Olde Wealth Management LLC purchased a new stake in Cencora in the first quarter worth approximately $48,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 31,350 shares of the business’s stock in a transaction on 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. The trade was a 9.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert P. Mauch sold 5,097 shares of the firm’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 55,993 shares of company stock worth $16,292,923 over the last three months. Insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on COR. Wells Fargo & Company lifted their price target on shares of Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. Jefferies Financial Group boosted their price target on shares of Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research note on Monday, June 30th. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Evercore ISI set a $340.00 price objective on Cencora in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered Cencora from a “buy” rating to a “hold” rating in a research note on Saturday. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $320.00.

Cencora Price Performance

COR stock opened at $317.86 on Wednesday. The stock has a market capitalization of $61.63 billion, a price-to-earnings ratio of 32.70, a PEG ratio of 1.48 and a beta of 0.63. The firm’s 50-day moving average price is $297.97 and its two-hundred day moving average price is $292.34. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. Cencora, Inc. has a 12-month low of $223.92 and a 12-month high of $319.87.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, topping analysts’ consensus estimates of $3.79 by $0.21. The company had revenue of $80.66 billion during the quarter, compared to analyst estimates of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. Cencora’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.34 earnings per share. As a group, equities analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

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

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.