2,613 Shares in Cencora, Inc. (NYSE:COR) Bought by Advisors Preferred LLC

Advisors Preferred LLC bought a new position in Cencora, Inc. (NYSE:COR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,613 shares of the company's stock, valued at approximately $725,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. LPL Financial LLC lifted its position in shares of Cencora by 7.6% during the 4th quarter. LPL Financial LLC now owns 188,828 shares of the company's stock valued at $42,426,000 after buying an additional 13,417 shares in the last quarter. TIAA Trust National Association lifted its stake in shares of Cencora by 1.7% during the 4th quarter. TIAA Trust National Association now owns 73,312 shares of the company's stock worth $16,472,000 after purchasing an additional 1,204 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in Cencora by 2.0% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,245 shares of the company's stock valued at $1,178,000 after buying an additional 105 shares in the last quarter. Korea Investment CORP increased its position in Cencora by 5.3% during the 4th quarter. Korea Investment CORP now owns 130,637 shares of the company's stock valued at $29,352,000 after buying an additional 6,600 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Cencora by 7.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 278,286 shares of the company's stock valued at $63,783,000 after purchasing an additional 19,544 shares during the period. Institutional investors own 97.52% of the company's stock.

Cencora Stock Performance

Shares of COR traded down $0.28 during midday trading on Friday, reaching $290.17. The stock had a trading volume of 785,267 shares, compared to its average volume of 1,072,635. The firm has a 50 day simple moving average of $293.31 and a 200-day simple moving average of $274.53. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35. The firm has a market cap of $56.24 billion, a PE ratio of 33.66, a P/E/G ratio of 1.44 and a beta of 0.57. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01.

Cencora (NYSE:COR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, topping the consensus estimate of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The business had revenue of $75.50 billion during the quarter, compared to the consensus estimate of $75.41 billion. During the same quarter in the previous year, the firm posted $3.80 EPS. Cencora's revenue was up 10.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Friday, May 16th. Cencora's payout ratio is presently 25.52%.

Insider Activity at Cencora

In related 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 transaction, the chief executive officer directly owned 42,351 shares in the company, valued at $12,455,852.61. This represents a 10.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction that occurred 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 sale, the chairman directly owned 311,913 shares in the company, valued at $91,271,982.06. The trade was a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,125 shares of company stock valued at $9,993,789 over the last 90 days. Corporate insiders own 10.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on COR. Robert W. Baird lifted their target price on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Bank of America boosted their target price on Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a report on Friday, April 11th. UBS Group boosted their target price on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Finally, Morgan Stanley set a $330.00 price target on Cencora and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, Cencora has an average rating of "Moderate Buy" and an average price target of $309.83.

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.