Brendel Financial Advisors LLC Invests $1.90 Million in Cencora, Inc. $COR

Key Points

• Brendel Financial Advisors LLC invested approximately $1.90 million in Cencora, Inc., acquiring 6,332 shares of the company during the 2nd quarter.
• Insiders, including Chairman Steven H. Collis and CEO Robert P. Mauch, sold significant shares of Cencora stock, with total sales in the last 90 days amounting to $19.08 million.
• Equities analysts have set new price targets for Cencora, with Jefferies Financial Group raising their target to $300 while Wells Fargo & Company increased theirs to $354, reflecting a positive outlook on the stock.

Brendel Financial Advisors LLC acquired a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,332 shares of the company's stock, valued at approximately $1,899,000.

Several other large investors have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its position in shares of Cencora by 8.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company's stock valued at $2,682,821,000 after purchasing an additional 787,858 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Cencora by 7.2% during the 1st quarter. Wellington Management Group LLP now owns 5,421,262 shares of the company's stock valued at $1,507,599,000 after purchasing an additional 363,402 shares during the last quarter. Boston Partners increased its position in shares of Cencora by 8.1% during the 1st quarter. Boston Partners now owns 5,411,193 shares of the company's stock valued at $1,505,984,000 after purchasing an additional 404,093 shares during the last quarter. Invesco Ltd. grew its position in Cencora by 42.1% in the 1st quarter. Invesco Ltd. now owns 4,607,964 shares of the company's stock valued at $1,281,429,000 after acquiring an additional 1,364,433 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Cencora by 9.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,711,281 shares of the company's stock valued at $475,890,000 after acquiring an additional 154,311 shares during the last quarter. Institutional investors own 97.52% of the company's stock.

Insider Activity at Cencora

In other news, Chairman Steven H. Collis sold 31,350 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total value of $9,087,111.00. Following the transaction, the chairman owned 305,913 shares in the company, valued at $88,671,942.18. This trade represents a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $294.11, for a total value of $1,461,138.48. Following the transaction, the chief executive officer owned 42,351 shares in the company, valued at approximately $12,455,852.61. The trade was a 10.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,475 shares of company stock worth $19,080,900. Company insiders own 10.80% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on COR shares. Jefferies Financial Group upped their price objective on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Morgan Stanley set a $330.00 price target on Cencora and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company increased their price target on Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $311.25.

Cencora Stock Down 0.2%

Shares of COR opened at $290.32 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35. The stock's 50 day moving average is $292.42 and its two-hundred day moving average is $286.81. The firm has a market cap of $56.29 billion, a P/E ratio of 29.87, a PEG ratio of 1.38 and a beta of 0.62.

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

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, August 15th. Cencora's dividend payout ratio (DPR) is 22.63%.

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.

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