75,000 Shares in Cencora, Inc. (NYSE:COR) Acquired by Seven Grand Managers LLC

Seven Grand Managers LLC bought a new stake in shares of Cencora, Inc. (NYSE:COR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 75,000 shares of the company’s stock, valued at approximately $16,881,000. Cencora accounts for about 3.8% of Seven Grand Managers LLC’s portfolio, making the stock its 5th biggest holding.

Several other institutional investors have also recently made changes to their positions in COR. Rise Advisors LLC bought a new position in shares of Cencora in the first quarter valued at approximately $25,000. New Millennium Group LLC purchased a new stake in Cencora in the 2nd quarter worth approximately $26,000. TCTC Holdings LLC bought a new position in Cencora in the 1st quarter valued at $29,000. TFO Wealth Partners LLC bought a new position in Cencora in the 1st quarter valued at $30,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Cencora during the 2nd quarter valued at $30,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Trading Up 1.5 %

Shares of COR opened at $236.60 on Thursday. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. Cencora, Inc. has a fifty-two week low of $182.75 and a fifty-two week high of $247.66. The firm has a 50 day moving average price of $232.42 and a 200-day moving average price of $231.15. The firm has a market cap of $47.19 billion, a price-to-earnings ratio of 25.89, a PEG 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business 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 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis. As a group, equities research analysts forecast that Cencora, Inc. will post 13.63 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 annualized dividend and a yield of 0.86%. Cencora’s payout ratio is 22.32%.

Insiders Place Their Bets

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the sale, the insider now owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the sale, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value 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 $4,806,388,800. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 15.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on COR. JPMorgan Chase & Co. lifted their price objective on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Bank of America reissued a “neutral” rating and set a $245.00 price objective (down previously from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Robert W. Baird lowered their target price on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Finally, Wells Fargo & Company increased their price target 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. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $259.44.

Cencora 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.