Cencora, Inc. (NYSE:COR) Shares Acquired by Arkadios Wealth Advisors

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

Other large investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC grew its stake in Cencora by 106.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock valued at $26,000 after acquiring an additional 48 shares in the last quarter. Hoey Investments Inc. purchased a new stake in Cencora during the 1st quarter valued at about $28,000. Banque Transatlantique SA purchased a new stake in Cencora during the 4th quarter valued at about $29,000. Vermillion Wealth Management Inc. purchased a new stake in Cencora during the 4th quarter valued at about $38,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in Cencora during the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Bank of America upped their price objective on shares of Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, April 11th. Wells Fargo & Company raised shares of Cencora from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. 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 note on Monday, June 30th. Finally, Robert W. Baird increased their price target on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $309.83.

Insider Buying and Selling

In other Cencora news, CEO Robert P. Mauch sold 4,968 shares of the 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 sale, 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 filing with the Securities & Exchange Commission, which is available through 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 transaction of $4,266,543.26. Following the sale, the chairman owned 309,913 shares in the company, valued at approximately $90,702,237.71. This trade represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,125 shares of company stock worth $9,993,789. 10.80% of the stock is owned by company insiders.

Cencora Trading Up 1.4%

Shares of NYSE:COR traded up $4.05 during mid-day trading on Monday, reaching $292.40. 335,516 shares of the company were exchanged, compared to its average volume of 1,563,318. 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 firm has a market cap of $56.67 billion, a price-to-earnings ratio of 33.96, a P/E/G ratio of 1.43 and a beta of 0.58. The firm's 50-day simple moving average is $292.97 and its 200 day simple moving average is $276.54. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $75.41 billion. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The firm's quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the company posted $3.80 EPS. Equities research analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were issued a dividend of $0.55 per share. The ex-dividend date 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 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.