Carolina Wealth Advisors LLC Grows Position in Cencora, Inc. $COR

Key Points

• Carolina Wealth Advisors LLC increased its stake in Cencora, Inc. by 39.5%, now owning 5,180 shares valued at approximately $1.55 million, making it the 24th largest holding in their portfolio.
• Research analysts have given Cencora a consensus rating of "Moderate Buy" with a target price averaging $311.25, indicating a positive outlook for the company.
• Insider trading activities included Chairman Steven H. Collis selling 31,350 shares for over $9 million, reducing his ownership by 9.30%.

Carolina Wealth Advisors LLC raised its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 39.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,180 shares of the company's stock after buying an additional 1,468 shares during the quarter. Cencora comprises about 0.8% of Carolina Wealth Advisors LLC's portfolio, making the stock its 24th biggest holding. Carolina Wealth Advisors LLC's holdings in Cencora were worth $1,553,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Voleon Capital Management LP purchased a new stake in shares of Cencora during the first quarter worth $3,111,000. Exchange Traded Concepts LLC grew its holdings in shares of Cencora by 4.5% during the first quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company's stock worth $307,000 after buying an additional 48 shares in the last quarter. Focus Partners Wealth grew its holdings in shares of Cencora by 25.8% during the first quarter. Focus Partners Wealth now owns 5,715 shares of the company's stock worth $1,589,000 after buying an additional 1,171 shares in the last quarter. Fiduciary Alliance LLC purchased a new stake in shares of Cencora during the second quarter worth $262,000. Finally, Martin Capital Partners LLC grew its holdings in shares of Cencora by 205.2% during the second quarter. Martin Capital Partners LLC now owns 3,784 shares of the company's stock worth $1,135,000 after buying an additional 2,544 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Jefferies Financial Group upped their price objective on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a report on Monday, June 30th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Cencora in a report on Saturday, September 27th. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Cencora presently has an average rating of "Moderate Buy" and a consensus target price of $311.25.

Insider Activity

In other news, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the sale, the chairman owned 305,913 shares of the company's stock, valued at approximately $88,671,942.18. This represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the sale, the chief executive officer directly owned 39,274 shares in the company, valued at $11,389,460. This represents a 11.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,993 shares of company stock worth $16,292,923 in the last three months. Corporate insiders own 10.80% of the company's stock.

Cencora Trading Down 2.0%

Shares of COR stock opened at $302.54 on Friday. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. The firm has a market cap of $58.66 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 1.41 and a beta of 0.63. The company has a 50-day moving average of $294.68 and a two-hundred day moving average of $290.25. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $315.23.

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

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend 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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