Advisor Resource Council Acquires Shares of 1,775 Cencora, Inc. (NYSE:COR)

Advisor Resource Council acquired a new stake in Cencora, Inc. (NYSE:COR) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,775 shares of the company’s stock, valued at approximately $494,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COR. Hoey Investments Inc. bought a new position in Cencora in the first quarter valued at approximately $28,000. Banque Transatlantique SA bought a new position in Cencora in the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. bought a new position in Cencora in the fourth quarter valued at approximately $30,000. Vermillion Wealth Management Inc. bought a new position in Cencora in the fourth quarter valued at approximately $38,000. Finally, OFI Invest Asset Management bought a new position in Cencora in the fourth quarter valued at approximately $41,000. 97.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on COR shares. Bank of America increased their target price on shares of Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, April 11th. Citigroup increased their target price on shares of Cencora from $330.00 to $355.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Wells Fargo & Company upgraded shares of Cencora from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Wall Street Zen upgraded shares of Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, Robert W. Baird increased their target price on shares of Cencora from $314.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $306.91.

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 14,578 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the transaction, the chairman now directly owns 317,913 shares in the company, valued at $85,680,732.63. The trade was a 4.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert P. Mauch sold 4,969 shares of the business’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the transaction, the chief executive officer now owns 47,582 shares in the company, valued at $13,766,900.06. This represents a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,126 shares of company stock worth $9,475,106. Insiders own 10.80% of the company’s stock.

Cencora Price Performance

NYSE COR opened at $293.66 on Monday. The firm’s 50 day moving average is $288.98 and its 200-day moving average is $263.42. 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 capitalization of $56.92 billion, a PE ratio of 34.07, a price-to-earnings-growth ratio of 1.45 and a beta of 0.58. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $309.35.

Cencora (NYSE:COR) last issued its quarterly earnings results 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 analyst estimates of $75.41 billion. During the same period in the previous year, the business earned $3.80 EPS. The company’s revenue was up 10.3% compared to the same quarter last year. Equities research analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were paid 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 payout ratio is currently 25.52%.

About Cencora

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.