Arkadios Wealth Advisors Buys 8,068 Shares of Cencora, Inc. (NYSE:COR)

Key Points

• Arkadios Wealth Advisors increased its stake in Cencora, Inc. by 340.1% during the first quarter, owning 10,440 shares valued at approximately $2.90 million.
• Cencora reported a quarterly EPS of $4.42, surpassing analysts' expectations, with a 10.3% year-over-year revenue growth totaling $75.50 billion.
• The company announced a quarterly dividend of $0.55 per share, corresponding to an annualized dividend yield of 0.75% and a payout ratio of 25.52%.

Arkadios Wealth Advisors raised its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 340.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,440 shares of the company's stock after buying an additional 8,068 shares during the quarter. Arkadios Wealth Advisors' holdings in Cencora were worth $2,903,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Net Worth Advisory Group boosted its holdings in Cencora by 1.4% in the first quarter. Net Worth Advisory Group now owns 2,645 shares of the company's stock valued at $736,000 after acquiring an additional 36 shares during the last quarter. Obermeyer Wealth Partners boosted its holdings in Cencora by 1.3% in the first quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company's stock valued at $758,000 after acquiring an additional 36 shares during the last quarter. Cromwell Holdings LLC boosted its holdings in Cencora by 9.5% in the first quarter. Cromwell Holdings LLC now owns 450 shares of the company's stock valued at $125,000 after acquiring an additional 39 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its holdings in Cencora by 2.7% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,565 shares of the company's stock valued at $435,000 after buying an additional 41 shares during the period. Finally, Private Trust Co. NA grew its stake in Cencora by 2.5% during the first quarter. Private Trust Co. NA now owns 1,933 shares of the company's stock worth $538,000 after buying an additional 47 shares during the period. Institutional investors and hedge funds own 97.52% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Bank of America increased 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. Citigroup boosted their price objective on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Morgan Stanley set a $330.00 target price on Cencora and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Robert W. Baird boosted 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. Finally, Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Cencora has a consensus rating of "Moderate Buy" and a consensus target price of $309.83.

Insider Transactions at Cencora

In related news, CEO Robert P. Mauch sold 4,968 shares of the company's stock in a transaction on 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 directly owned 42,351 shares of the company's stock, valued at approximately $12,455,852.61. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 14,578 shares of Cencora stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total value of $4,266,543.26. Following the transaction, the chairman directly owned 309,913 shares in the company, 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 have sold 34,125 shares of company stock valued at $9,993,789 over the last ninety days. Insiders own 10.80% of the company's stock.

Cencora Price Performance

Shares of Cencora stock traded up $2.23 on Friday, hitting $288.31. The company had a trading volume of 1,140,211 shares, compared to its average volume of 941,703. The business has a 50-day simple moving average of $292.97 and a 200-day simple moving average of $276.29. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52. The company has a market cap of $55.88 billion, a PE ratio of 33.45, a PEG ratio of 1.42 and a beta of 0.57. 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 released its earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, beating 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 analyst estimates of $75.41 billion. During the same period in the prior year, the business earned $3.80 earnings per share. The business's quarterly revenue was up 10.3% on a year-over-year basis. Research analysts expect that Cencora, Inc. will post 15.37 EPS 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 paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a yield of 0.8%. Cencora's dividend payout ratio is currently 25.52%.

Cencora Company 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.