Sei Investments Co. has increased its holdings in Cencora, Inc. (NYSE:COR) by 1.3% during the third quarter, according to a recent filing with the Securities and Exchange Commission. The investment firm now owns 528,528 shares of Cencora’s stock, having acquired an additional 6,706 shares in this period. As of the latest filing, Sei Investments’ stake in Cencora is valued at approximately $165.19 million.
The investment landscape for Cencora has seen significant activity, with several other institutional investors adjusting their positions. Notably, Norges Bank established a new stake in Cencora worth around $695.22 million in the second quarter. Additionally, Mizuho Markets Americas LLC increased its holdings by 116.4% during the third quarter, bringing its total to 212,800 shares valued at $66.51 million. Other notable investors include Artisan Partners Limited Partnership, which purchased a new position valued at approximately $411.89 million, and Vanguard Group Inc., which grew its stake by 5.3% to own over 22.48 million shares valued at $6.74 billion.
Insider Trading Activity
In related news, insider trading has also been noted at Cencora. Executive Vice President Elizabeth S. Campbell sold 3,351 shares on December 19, 2023, at an average price of $342.10, totaling approximately $1.15 million. Following this transaction, Campbell retains 23,891 shares valued at about $8.17 million, marking a 12.3% decrease in her holdings.
Another executive, Silvana Battaglia, sold 1,677 shares on the same day, realizing around $578,565. Battaglia now owns 18,796 shares valued at approximately $6.48 million, representing an 8.19% reduction in her stake. Over the last quarter, insiders sold a total of 15,220 shares worth approximately $5.28 million, with insiders currently owning 0.38% of the company’s total stock.
Market Performance and Future Outlook
Cencora’s stock price opened at $352.39 on Friday, reflecting a 0.6% increase. The company boasts a market capitalization of $68.55 billion, with a price-to-earnings ratio of 42.35 and a beta of 0.68. Over the past year, Cencora’s stock has fluctuated between a low of $252.49 and a high of $377.54, with a 50-day moving average price of $355.37.
Cencora announced its latest quarterly earnings on February 4, 2024, reporting earnings per share of $4.08, which surpassed analysts’ expectations of $4.04. The company’s revenue for the quarter was $85.93 billion, slightly below the projected $86.12 billion. Compared to the same quarter last year, Cencora experienced a revenue increase of 5.5% and a return on equity of 176.54% with a net margin of 0.50%. Analysts predict that Cencora will post an earnings per share figure of 15.37 for the current fiscal year.
In addition, Cencora has declared a quarterly dividend of $0.60, paid on March 2, 2024, to shareholders recorded as of February 13, 2024. This dividend represents an annualized payout of $2.40 and a yield of 0.7%, with a current dividend payout ratio of 28.85%.
Cencora, Inc. operates as a global healthcare services and pharmaceutical distribution company, providing comprehensive solutions throughout the pharmaceutical supply chain. Its core competencies include wholesale drug distribution, specialty drug distribution, and specialty pharmacy operations. The company also offers logistics and cold-chain management services, supporting complex therapies that require precise temperature control.
