Cary Street Partners Investment Advisory LLC Purchases 864 Shares of Cencora, Inc. (NYSE:COR)

Key Points

• Cary Street Partners Investment Advisory LLC has increased its holdings in Cencora, Inc. (NYSE:COR) by 229.2%, owning a total of 1,241 shares valued at approximately $345,000.
• CEO Robert P. Mauch and Chairman Steven H. Collis sold significant shares of Cencora, resulting in a 10.50% and 4.49% decrease in their respective ownership stakes.
• Equities research analysts have raised their price targets for Cencora, with a consensus average target price of $309.83 and a rating of "Moderate Buy."

Cary Street Partners Investment Advisory LLC grew its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 229.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,241 shares of the company's stock after buying an additional 864 shares during the period. Cary Street Partners Investment Advisory LLC's holdings in Cencora were worth $345,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cornerstone Planning Group LLC boosted its holdings in shares of Cencora by 106.7% in the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after acquiring an additional 48 shares during the period. Hoey Investments Inc. purchased a new stake in Cencora during the 1st quarter worth about $28,000. Costello Asset Management INC purchased a new stake in Cencora during the 1st quarter worth about $28,000. Banque Transatlantique SA bought a new position in Cencora in the 4th quarter worth about $29,000. Finally, Vermillion Wealth Management Inc. purchased a new position in Cencora during the 4th quarter valued at about $38,000. Institutional investors own 97.52% of the company's stock.

Insider Activity at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,968 shares of the business's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $294.11, for a total value of $1,461,138.48. Following the completion of the sale, the chief executive officer directly owned 42,351 shares of the company's stock, valued at $12,455,852.61. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the sale, the chairman owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. The trade was a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,125 shares of company stock worth $9,993,789 over the last three months. Insiders own 10.80% of the company's stock.

Cencora Price Performance

NYSE:COR traded up $7.06 during midday trading on Friday, hitting $285.46. The company had a trading volume of 1,106,201 shares, compared to its average volume of 1,099,116. The stock's fifty day moving average price is $292.51 and its 200-day moving average price is $277.58. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $309.35. The company has a quick ratio of 0.52, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. The company has a market capitalization of $55.33 billion, a PE ratio of 29.37, a P/E/G ratio of 1.36 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. The firm had revenue of $80.66 billion during the quarter, compared to analysts' expectations of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%. The company's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.34 EPS. As a group, research analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.8%. Cencora's dividend payout ratio (DPR) is 22.63%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on COR. Wells Fargo & Company raised shares of Cencora from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. UBS Group upped their target price on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Citigroup raised their price target on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Robert W. Baird upped their price target on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, Morgan Stanley set a $330.00 price objective on Cencora and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $309.83.

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.