282,744 Shares in Cencora, Inc. (NYSE:COR) Purchased by Earnest Partners LLC

Earnest Partners LLC purchased a new position in shares of Cencora, Inc. (NYSE:COR) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 282,744 shares of the company’s stock, valued at approximately $68,704,000. Earnest Partners LLC owned about 0.14% of Cencora as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Fisher Asset Management LLC purchased a new stake in Cencora in the 4th quarter valued at approximately $244,000. Trust Co. of Vermont purchased a new stake in Cencora in the 4th quarter valued at approximately $62,000. Wahed Invest LLC purchased a new stake in Cencora in the 4th quarter valued at approximately $567,000. Vanguard Group Inc. purchased a new stake in Cencora in the 4th quarter valued at approximately $4,212,508,000. Finally, Hennessy Advisors Inc. purchased a new stake in Cencora in the 4th quarter valued at approximately $3,307,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total value of $399,991,976.80. Following the completion of the transaction, the insider now directly owns 24,418,171 shares in the company, valued at approximately $5,252,836,945.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total value of $399,991,976.80. Following the completion of the transaction, the insider now directly owns 24,418,171 shares in the company, valued at approximately $5,252,836,945.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Steven H. Collis sold 10,755 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total value of $2,388,900.60. Following the completion of the transaction, the chief executive officer now owns 285,088 shares of the company’s stock, valued at $63,323,746.56. The disclosure for this sale can be found here. In the last three months, insiders sold 1,899,112 shares of company stock worth $408,654,376. Insiders own 15.80% of the company’s stock.

Wall Street Analyst Weigh In

COR has been the topic of a number of analyst reports. SVB Leerink reaffirmed an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a report on Thursday, June 27th. Citigroup lifted their price objective on Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Robert W. Baird lifted their price target on shares of Cencora from $280.00 to $285.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. Finally, StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cencora has a consensus rating of “Moderate Buy” and a consensus price target of $238.78.

Cencora Price Performance

Shares of Cencora stock traded down $0.44 during trading on Monday, hitting $227.18. 1,214,874 shares of the company were exchanged, compared to its average volume of 1,363,223. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 3.41. Cencora, Inc. has a fifty-two week low of $171.65 and a fifty-two week high of $246.75. The stock has a market capitalization of $45.31 billion, a price-to-earnings ratio of 24.86, a P/E/G ratio of 1.58 and a beta of 0.45. The firm has a 50 day moving average price of $226.96 and a 200 day moving average price of $230.70.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $3.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.65 by $0.15. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The firm had revenue of $68.41 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same period in the previous year, the firm posted $3.50 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities analysts expect that Cencora, Inc. will post 13.46 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.04 annualized dividend and a dividend yield of 0.90%. Cencora’s dividend payout ratio is currently 22.32%.

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.