CX Institutional Has $1.85 Million Position in Cencora, Inc. (NYSE:COR)

CX Institutional reduced its holdings in Cencora, Inc. (NYSE:COR) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,214 shares of the company’s stock after selling 104 shares during the quarter. CX Institutional’s holdings in Cencora were worth $1,851,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Valeo Financial Advisors LLC lifted its stake in Cencora by 3.4% during the second quarter. Valeo Financial Advisors LLC now owns 1,566 shares of the company’s stock worth $353,000 after purchasing an additional 51 shares during the period. Rise Advisors LLC acquired a new stake in shares of Cencora during the first quarter worth approximately $25,000. Legacy Bridge LLC acquired a new stake in shares of Cencora during the first quarter worth approximately $27,000. TCTC Holdings LLC acquired a new stake in shares of Cencora during the first quarter worth approximately $29,000. Finally, TFO Wealth Partners LLC acquired a new stake in shares of Cencora during the first quarter worth approximately $30,000. Institutional investors own 97.52% of the company’s stock.

Wall Street Analysts Forecast Growth

COR has been the subject of several recent analyst reports. Wells Fargo & Company raised 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. Citigroup raised their price target on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Robert W. Baird raised their price target on shares of Cencora from $285.00 to $287.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, SVB Leerink reissued an “outperform” rating and issued a $275.00 price target on shares of Cencora in a report on Thursday, June 27th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $254.57.

Cencora Stock Performance

Shares of Cencora stock traded up $1.46 during trading on Friday, hitting $237.95. 75,689 shares of the stock were exchanged, compared to its average volume of 1,387,820. The stock has a market capitalization of $47.46 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 1.68 and a beta of 0.45. The company has a fifty day moving average price of $230.21 and a 200-day moving average price of $231.72. Cencora, Inc. has a 1-year low of $171.65 and a 1-year high of $247.66. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.93.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.16. The company had revenue of $74.20 billion for the quarter, compared to analyst estimates of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. Cencora’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.92 EPS. As a group, equities analysts predict that Cencora, Inc. will post 13.56 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 9th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.86%. Cencora’s dividend payout ratio (DPR) is currently 22.32%.

Insider Activity at Cencora

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total value of $399,991,976.80. Following the transaction, the insider now owns 24,418,171 shares in the company, valued at approximately $5,252,836,945.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction that occurred 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 owns 10,948 shares in the company, valued at approximately $2,656,970.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the transaction, the insider now owns 24,418,171 shares in the company, valued at approximately $5,252,836,945.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,338,756 shares of company stock worth $1,476,658,274. Insiders own 15.80% of the company’s stock.

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.