CX Institutional Raises Stock Position in Cencora, Inc. (NYSE:COR)

CX Institutional boosted its position in shares of Cencora, Inc. (NYSE:COR) by 8.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,868 shares of the company’s stock after acquiring an additional 654 shares during the period. CX Institutional’s holdings in Cencora were worth $1,996,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Kathleen S. Wright Associates Inc. purchased a new position in Cencora in the 3rd quarter worth approximately $68,000. Boston Mountain Money Management Inc. purchased a new position in Cencora in the 3rd quarter worth approximately $263,000. Redhawk Wealth Advisors Inc. grew its stake in Cencora by 6.3% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 10,444 shares of the company’s stock worth $2,351,000 after buying an additional 618 shares in the last quarter. Ayrshire Capital Management LLC grew its stake in Cencora by 1.5% in the 3rd quarter. Ayrshire Capital Management LLC now owns 24,525 shares of the company’s stock worth $5,520,000 after buying an additional 374 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in Cencora by 41.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,334 shares of the company’s stock worth $1,201,000 after buying an additional 1,568 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Bank of America reissued a “neutral” rating and issued a $245.00 price target (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Wells Fargo & Company boosted their price objective on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Evercore ISI lowered their price objective on shares of Cencora from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Finally, Leerink Partners lowered their price objective on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and an average price target of $259.44.

Cencora Trading Up 3.7 %

NYSE:COR opened at $233.12 on Wednesday. The company has a fifty day moving average of $232.51 and a 200 day moving average of $231.11. Cencora, Inc. has a 52 week low of $182.75 and a 52 week high of $247.66. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93. The firm has a market capitalization of $46.50 billion, a P/E ratio of 25.51, a P/E/G ratio of 1.40 and a beta of 0.44.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The company had revenue of $74.20 billion during the quarter, compared to analyst estimates of $73.32 billion. During the same period in the prior year, the business posted $2.92 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, research analysts predict that Cencora, Inc. will post 13.63 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were issued a dividend of $0.51 per share. The ex-dividend date was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.88%. Cencora’s dividend payout ratio is currently 22.32%.

Insider Activity at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the transaction, the insider now directly owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. The trade was a 0.00 % 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. In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the transaction, the insider now directly owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. The trade was a 0.00 % 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, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the transaction, the executive vice president now directly owns 10,948 shares in the company, valued at approximately $2,656,970.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.80% of the stock is currently owned by company insiders.

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.