Cencora, Inc. (NYSE:COR) Stock Position Decreased by Choreo LLC

Key Points

• Choreo LLC has reduced its stake in Cencora, Inc. by 22.7% during the first quarter, now holding 3,744 shares valued at $1,041,000.
• Cencora reported an earnings beat in its latest quarter, with $4.42 earnings per share surpassing estimates of $4.07, contributing to a 10.3% revenue increase year-over-year.
• The company's stock has a consensus rating of "Moderate Buy" and an average price target of $309.83 from analysts, following several upgrades in price objectives.

Choreo LLC cut its stake in Cencora, Inc. (NYSE:COR - Free Report) by 22.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,744 shares of the company's stock after selling 1,097 shares during the period. Choreo LLC's holdings in Cencora were worth $1,041,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in COR. Cornerstone Planning Group LLC increased its holdings in shares of Cencora by 106.7% during the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock valued at $26,000 after purchasing an additional 48 shares during the period. Hoey Investments Inc. acquired a new position in shares of Cencora during the first quarter valued at $28,000. Banque Transatlantique SA acquired a new position in shares of Cencora during the fourth quarter valued at $29,000. Vermillion Wealth Management Inc. acquired a new position in shares of Cencora during the fourth quarter valued at $38,000. Finally, Golden State Wealth Management LLC increased its holdings in shares of Cencora by 157.6% during the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock valued at $47,000 after purchasing an additional 104 shares during the period. 97.52% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cencora

In other news, CEO Robert P. Mauch sold 4,968 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 42,351 shares of the company's stock, valued at $12,455,852.61. This trade represents a 10.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Steven H. Collis sold 14,578 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $292.67, for a total value of $4,266,543.26. Following the sale, the chairman directly owned 309,913 shares of the company's stock, valued at $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. Insiders have sold a total of 34,125 shares of company stock valued at $9,993,789 over the last 90 days. Corporate insiders own 10.80% of the company's stock.

Cencora Trading Up 1.4%

Shares of NYSE:COR traded up $4.02 during midday trading on Tuesday, reaching $290.22. The company had a trading volume of 182,030 shares, compared to its average volume of 1,577,094. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $309.35. The firm has a market cap of $56.25 billion, a price-to-earnings ratio of 33.66, a price-to-earnings-growth ratio of 1.44 and a beta of 0.57. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.52 and a current ratio of 0.87. The company has a fifty day simple moving average of $293.19 and a two-hundred day simple moving average of $275.13.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, topping analysts' consensus estimates of $4.07 by $0.35. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The firm had revenue of $75.50 billion during the quarter, compared to analyst estimates of $75.41 billion. During the same period last year, the company posted $3.80 EPS. The business's quarterly revenue was up 10.3% compared to the same quarter last year. Research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were given 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 0.76%. Cencora's payout ratio is presently 25.52%.

Analyst Ratings Changes

A number of brokerages have recently commented on COR. Robert W. Baird raised their price target on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Jefferies Financial Group lifted their target price on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. UBS Group lifted their target price on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Bank of America lifted their target price on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. Finally, Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $309.83.

Cencora 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.