HBK Sorce Advisory LLC Sells 192 Shares of Cencora, Inc. (NYSE:COR)

HBK Sorce Advisory LLC lessened its position in Cencora, Inc. (NYSE:COR) by 1.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 17,939 shares of the company’s stock after selling 192 shares during the period. HBK Sorce Advisory LLC’s holdings in Cencora were worth $4,042,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of COR. Kingswood Wealth Advisors LLC bought a new stake in Cencora during the 2nd quarter valued at $655,000. TD Asset Management Inc acquired a new stake in shares of Cencora in the 1st quarter worth about $95,313,000. LSV Asset Management acquired a new stake in shares of Cencora in the 1st quarter worth about $3,579,000. Cairn Investment Group Inc. bought a new position in Cencora in the 1st quarter valued at about $2,294,000. Finally, Lake Street Advisors Group LLC purchased a new stake in shares of Cencora in the first quarter worth approximately $836,000. 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 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 sale, the insider now owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Steven H. Collis sold 10,755 shares of the 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 transaction, the chief executive officer now owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The sale was disclosed in a legal filing 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 firm’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 sale, the insider now owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The disclosure for this sale can be found here. Insiders have sold a total of 4,450,399 shares of company stock valued at $1,070,392,799 over the last three months. 15.80% of the stock is currently owned by insiders.

Cencora Stock Up 0.6 %

Cencora stock opened at $237.61 on Friday. 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 company has a market capitalization of $47.39 billion, a P/E ratio of 26.00, a P/E/G ratio of 1.54 and a beta of 0.44. The firm has a 50 day moving average price of $233.58 and a 200-day moving average price of $233.27. Cencora, Inc. has a twelve month low of $175.50 and a twelve month high of $247.66.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.16. The business had revenue of $74.20 billion during the quarter, compared to analyst estimates of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. Cencora’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.92 earnings per share. As a group, equities analysts predict that Cencora, Inc. will post 13.61 EPS for the current year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Friday, August 9th. Cencora’s dividend payout ratio is currently 22.32%.

Wall Street Analyst Weigh In

COR has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price objective on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Leerink Partners reiterated an “outperform” rating and issued a $275.00 target price on shares of Cencora in a research note on Thursday, June 27th. StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Robert W. Baird decreased their price objective on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $258.13.

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.