Advisor Resource Council purchased a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,775 shares of the company's stock, valued at approximately $494,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Atria Wealth Solutions Inc. raised its holdings in Cencora by 31.5% during the 4th quarter. Atria Wealth Solutions Inc. now owns 9,621 shares of the company's stock worth $2,162,000 after purchasing an additional 2,303 shares during the last quarter. Abound Financial LLC bought a new stake in shares of Cencora in the 4th quarter valued at $477,000. Howard Capital Management Inc. increased its holdings in shares of Cencora by 31.5% in the fourth quarter. Howard Capital Management Inc. now owns 1,400 shares of the company's stock worth $315,000 after acquiring an additional 335 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Cencora during the 4th quarter worth approximately $2,892,000. Finally, IFP Advisors Inc lifted its stake in Cencora by 105.0% in the fourth quarter. IFP Advisors Inc now owns 1,810 shares of the company's stock valued at $410,000 after buying an additional 927 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on the company. Morgan Stanley set a $288.00 price target on Cencora in a research note on Tuesday, April 15th. UBS Group boosted their target price on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Robert W. Baird lifted their price objective on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Bank of America boosted their price objective on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Finally, Citigroup increased their price objective on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $306.91.
Check Out Our Latest Research Report on Cencora
Cencora Price Performance
NYSE COR traded up $1.03 during midday trading on Tuesday, hitting $294.16. The company had a trading volume of 1,183,232 shares, compared to its average volume of 1,520,444. The firm has a 50-day moving average price of $289.36 and a 200-day moving average price of $263.98. The company has a market capitalization of $57.01 billion, a PE ratio of 34.13, a P/E/G ratio of 1.45 and a beta of 0.58. 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, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35.
Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, beating analysts' consensus estimates of $4.07 by $0.35. The business had revenue of $75.50 billion during the quarter, compared to the consensus estimate of $75.41 billion. Cencora had a return on equity of 344.71% and a net margin of 0.55%. Cencora's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.80 earnings per share. As a group, analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.
Cencora Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 annualized dividend and a yield of 0.75%. Cencora's dividend payout ratio is currently 25.52%.
Insiders Place Their Bets
In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of the company's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $289.33, for a total value of $1,437,680.77. Following the completion of the transaction, the chief executive officer now directly owns 47,582 shares in the company, valued at approximately $13,766,900.06. This represents a 9.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Steven H. Collis sold 14,579 shares of the firm's stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total value of $4,108,507.99. Following the transaction, the chairman now directly owns 315,913 shares of the company's stock, valued at approximately $89,027,442.53. This represents a 4.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.80% of the company's stock.
About Cencora
(
Free Report)
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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