American Institute for Advanced Investment Management LLP Takes Position in Cencora, Inc. (NYSE:COR)

American Institute for Advanced Investment Management LLP bought a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 14,627 shares of the company's stock, valued at approximately $4,068,000. Cencora comprises 3.0% of American Institute for Advanced Investment Management LLP's investment portfolio, making the stock its 5th largest holding.

Several other hedge funds have also recently modified their holdings of the business. Hoey Investments Inc. bought a new stake in shares of Cencora in the first quarter worth $28,000. JFS Wealth Advisors LLC increased its position in shares of Cencora by 63.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company's stock valued at $27,000 after purchasing an additional 46 shares during the last quarter. Banque Transatlantique SA purchased a new stake in shares of Cencora during the 4th quarter valued at about $29,000. SBI Securities Co. Ltd. purchased a new position in shares of Cencora in the fourth quarter worth approximately $30,000. Finally, WASHINGTON TRUST Co grew its position in Cencora by 37.7% during the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company's stock valued at $38,000 after buying an additional 46 shares during the period. Hedge funds and other institutional investors own 97.52% of the company's stock.

Insider Activity at Cencora

In related news, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction dated Monday, April 21st. The stock was 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 owns 47,582 shares in the company, valued at approximately $13,766,900.06. This trade represents a 9.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $268.28, for a total value of $1,107,191.56. Following the sale, the executive vice president now directly owns 14,665 shares in the company, valued at $3,934,326.20. The trade was a 21.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,253 shares of company stock valued at $10,582,297. Insiders own 10.80% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on COR. Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $274.00 to $337.00 in a research note on Tuesday, June 3rd. UBS Group lifted their target price on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Robert W. Baird upped their price target on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Bank of America lifted their price objective on Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research report on Friday, April 11th. Finally, Morgan Stanley set a $288.00 price objective on Cencora in a research note on Tuesday, April 15th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Cencora presently has a consensus rating of "Moderate Buy" and an average target price of $306.91.

Cencora Price Performance

COR stock traded down $1.49 during midday trading on Monday, hitting $294.06. The company's stock had a trading volume of 191,849 shares, compared to its average volume of 1,670,262. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35. The company has a 50 day moving average of $287.24 and a two-hundred day moving average of $261.82. The firm has a market capitalization of $56.99 billion, a price-to-earnings ratio of 41.83, a price-to-earnings-growth ratio of 1.31 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, topping analysts' consensus estimates of $4.07 by $0.35. The firm had revenue of $75.50 billion during the quarter, compared to analyst estimates of $75.41 billion. Cencora had a net margin of 0.46% and a return on equity of 328.62%. Cencora's revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.80 earnings per share. On average, analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Friday, May 16th. Cencora's payout ratio is presently 25.52%.

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.