1,108 Shares in Cencora, Inc. $COR Acquired by GC Wealth Management RIA LLC

Key Points

• GC Wealth Management RIA LLC acquired 1,108 shares of Cencora, Inc. valued at approximately $332,000 in the second quarter, reflecting growing interest from institutional investors, with 97.52% of the stock currently held by them.
• Cencora reported $4.00 EPS for its latest quarter, surpassing the consensus estimate of $3.79, with quarterly revenue up 8.7% year-over-year, totaling $80.66 billion.
• The company announced a quarterly dividend of $0.55, contributing to an annualized yield of 0.7% with a dividend payout ratio of 22.63%.

GC Wealth Management RIA LLC purchased a new position in Cencora, Inc. (NYSE:COR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,108 shares of the company's stock, valued at approximately $332,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Cairn Investment Group Inc. bought a new position in Cencora in the 2nd quarter worth approximately $234,000. V Square Quantitative Management LLC boosted its position in shares of Cencora by 5.2% during the 2nd quarter. V Square Quantitative Management LLC now owns 3,925 shares of the company's stock valued at $1,177,000 after acquiring an additional 193 shares during the last quarter. Avior Wealth Management LLC boosted its position in shares of Cencora by 18.7% during the 2nd quarter. Avior Wealth Management LLC now owns 5,509 shares of the company's stock valued at $1,652,000 after acquiring an additional 866 shares during the last quarter. BayBridge Capital Group LLC boosted its position in shares of Cencora by 2.4% during the 2nd quarter. BayBridge Capital Group LLC now owns 5,830 shares of the company's stock valued at $1,748,000 after acquiring an additional 139 shares during the last quarter. Finally, Sage Rhino Capital LLC bought a new position in shares of Cencora during the 2nd quarter valued at approximately $213,000. 97.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on COR. Morgan Stanley set a $330.00 target price on Cencora and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Jefferies Financial Group increased their target price on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Finally, Wells Fargo & Company increased their target price on Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $311.25.

Cencora Stock Performance

NYSE:COR opened at $311.92 on Thursday. The stock's fifty day moving average is $294.07 and its 200 day moving average is $289.49. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $315.23. The firm has a market capitalization of $60.48 billion, a PE ratio of 32.09, a PEG ratio of 1.59 and a beta of 0.63. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The company had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. During the same quarter in the prior year, the firm posted $3.34 EPS. Cencora's quarterly revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a $0.55 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. Cencora's dividend payout ratio (DPR) is presently 22.63%.

Insiders Place Their Bets

In other Cencora news, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $290.00, for a total value of $1,478,130.00. Following the sale, the chief executive officer owned 39,274 shares in the company, valued at $11,389,460. This trade represents a 11.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total value of $9,087,111.00. Following the completion of the sale, the chairman owned 305,913 shares in the company, valued at approximately $88,671,942.18. The trade was a 9.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,993 shares of company stock worth $16,292,923. Insiders own 10.80% of the company's stock.

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.

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