CW Advisors LLC Acquires Shares of 9,650 Cencora, Inc. $COR

Key Points

• CW Advisors LLC acquired 9,650 shares of Cencora, Inc. for approximately $2,683,000, marking a new investment as of the first quarter.
• Recent insider sales included CEO Robert P. Mauch selling 4,968 shares for about $1.46 million and Chairman Steven H. Collis selling 14,578 shares for approximately $4.27 million.
• Cencora's recent quarterly earnings surpassed expectations, with earnings per share of $4.00 and revenue of $80.66 billion, reflecting an 8.7% increase from the previous year.

CW Advisors LLC bought a new position in Cencora, Inc. (NYSE:COR - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 9,650 shares of the company's stock, valued at approximately $2,683,000.

A number of other hedge funds have also recently made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new position in Cencora during the fourth quarter worth about $67,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of Cencora during the fourth quarter worth about $4,914,000. Coldstream Capital Management Inc. grew its holdings in shares of Cencora by 3.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 3,399 shares of the company's stock worth $764,000 after purchasing an additional 100 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Cencora in the fourth quarter worth approximately $1,392,000. Finally, Johnson Financial Group Inc. raised its stake in Cencora by 5,106.3% in the fourth quarter. Johnson Financial Group Inc. now owns 833 shares of the company's stock valued at $187,000 after purchasing an additional 817 shares in the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Trading Up 0.6%

COR stock traded up $1.62 during trading on Friday, hitting $291.51. 1,123,252 shares of the company traded hands, compared to its average volume of 1,410,850. 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, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35. The firm has a market capitalization of $56.52 billion, a PE ratio of 29.99, a P/E/G ratio of 1.38 and a beta of 0.58. The company has a 50-day moving average of $293.02 and a 200-day moving average of $282.15.

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

Cencora Announces Dividend

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

Insider Activity

In related news, CEO Robert P. Mauch sold 4,968 shares of the business's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the transaction, the chief executive officer owned 42,351 shares in the company, valued at $12,455,852.61. The trade was a 10.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Steven H. Collis sold 14,578 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $292.67, for a total value of $4,266,543.26. Following the completion of the sale, the chairman owned 309,913 shares of the company's stock, valued at approximately $90,702,237.71. This trade represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,125 shares of company stock worth $9,993,789 over the last three months. 10.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on COR. Wells Fargo & Company boosted their price target on shares of Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Citigroup upped their price objective on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Morgan Stanley set a $330.00 price objective on Cencora and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Robert W. Baird boosted their target price on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Finally, Jefferies Financial Group increased their price target on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $311.25.

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.