Sierra Summit Advisors LLC Invests $4.14 Million in Cencora, Inc. (NYSE:COR)

Key Points

• Sierra Summit Advisors LLC has purchased 14,888 shares of Cencora, Inc. (NYSE:COR), valued at approximately $4.14 million during the first quarter.
• Cencora reported $4.00 earnings per share for the last quarter, exceeding the consensus estimate of $3.79 and showing a year-over-year revenue growth of 8.7%.
• The company recently announced a quarterly dividend of $0.55 per share, with a dividend yield of 0.8% and a payout ratio of 22.63%.

Sierra Summit Advisors LLC bought a new stake in Cencora, Inc. (NYSE:COR - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 14,888 shares of the company's stock, valued at approximately $4,140,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Frank Rimerman Advisors LLC grew its position in Cencora by 20.4% during the first quarter. Frank Rimerman Advisors LLC now owns 1,474 shares of the company's stock valued at $410,000 after acquiring an additional 250 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Cencora by 115.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,631 shares of the company's stock worth $6,015,000 after purchasing an additional 11,588 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in Cencora in the first quarter worth $152,000. Nicholson Wealth Management Group LLC increased its position in Cencora by 1.3% during the 1st quarter. Nicholson Wealth Management Group LLC now owns 8,024 shares of the company's stock valued at $2,231,000 after purchasing an additional 102 shares during the period. Finally, AlphaCore Capital LLC raised its stake in Cencora by 15.7% in the first quarter. AlphaCore Capital LLC now owns 1,845 shares of the company's stock worth $513,000 after buying an additional 251 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Down 0.4%

Shares of COR traded down $1.26 during trading hours on Tuesday, hitting $289.44. The company had a trading volume of 1,935,533 shares, compared to its average volume of 1,575,156. The firm has a fifty day moving average price of $292.48 and a 200-day moving average price of $278.30. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. The stock has a market capitalization of $56.10 billion, a price-to-earnings ratio of 29.78, a P/E/G ratio of 1.35 and a beta of 0.58. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $309.35.

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

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, August 15th will be given a dividend of $0.55 per share. The ex-dividend date is Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.8%. Cencora's dividend payout ratio is 22.63%.

Wall Street Analyst Weigh In

COR has been the topic of a number of research analyst reports. Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Morgan Stanley set a $330.00 price objective on Cencora and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Jefferies Financial Group raised their price objective on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Robert W. Baird raised their price objective on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Finally, UBS Group raised their price objective on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, Cencora has an average rating of "Moderate Buy" and an average price target of $309.83.

Insider Buying and Selling

In other Cencora news, CEO Robert P. Mauch sold 4,968 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the completion of the sale, the chief executive officer directly owned 42,351 shares of the company's stock, valued at approximately $12,455,852.61. This represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the completion of the sale, the chairman directly owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. This trade represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,125 shares of company stock worth $9,993,789. 10.80% of the stock is owned by insiders.

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.