First Foundation Advisors Has $16.56 Million Stock Position in Cencora, Inc. (NYSE:COR)

Key Points

• First Foundation Advisors reduced its stake in Cencora, Inc. by 18.1%, owning 59,543 shares valued at approximately $16.56 million after selling 13,190 shares in the first quarter.
• Cencora recently declared a quarterly dividend of $0.55 per share, resulting in an annualized dividend yield of 0.77%.
• Analysts have a consensus rating of "Moderate Buy" for Cencora, with a target price averaging $309.83, and several firms have recently raised their price objectives for the stock.

First Foundation Advisors reduced its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 18.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,543 shares of the company's stock after selling 13,190 shares during the quarter. First Foundation Advisors' holdings in Cencora were worth $16,558,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Net Worth Advisory Group boosted its position in shares of Cencora by 1.4% in the first quarter. Net Worth Advisory Group now owns 2,645 shares of the company's stock worth $736,000 after buying an additional 36 shares during the period. Obermeyer Wealth Partners raised its holdings in Cencora by 1.3% during the first quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company's stock valued at $758,000 after buying an additional 36 shares in the last quarter. Cromwell Holdings LLC raised its holdings in Cencora by 9.5% during the first quarter. Cromwell Holdings LLC now owns 450 shares of the company's stock valued at $125,000 after buying an additional 39 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its position in shares of Cencora by 2.7% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,565 shares of the company's stock valued at $435,000 after purchasing an additional 41 shares during the last quarter. Finally, Private Trust Co. NA grew its position in shares of Cencora by 2.5% in the first quarter. Private Trust Co. NA now owns 1,933 shares of the company's stock valued at $538,000 after purchasing an additional 47 shares during the last quarter. 97.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on COR. Robert W. Baird lifted their target price on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Bank of America lifted their price objective on Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a report on Friday, April 11th. Jefferies Financial Group lifted their price objective on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a report on Monday, June 30th. Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Finally, Morgan Stanley set a $330.00 target price on Cencora and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Cencora presently has a consensus rating of "Moderate Buy" and an average target price of $309.83.

Cencora Trading Up 0.8%

Shares of COR traded up $2.23 during trading hours on Friday, reaching $288.31. The stock had a trading volume of 1,140,183 shares, compared to its average volume of 1,570,370. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The firm has a 50-day moving average of $293.13 and a 200 day moving average of $275.35. The company has a market cap of $55.88 billion, a P/E ratio of 33.45, a P/E/G ratio of 1.45 and a beta of 0.57.

Cencora (NYSE:COR - Get Free Report) last announced its earnings results 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 analyst estimates of $75.41 billion. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.80 EPS. On average, sell-side analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors 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 (DPR) is presently 25.52%.

Insider Transactions at Cencora

In related news, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the completion of the transaction, the chairman owned 311,913 shares in the company, valued at approximately $91,271,982.06. This trade represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert P. Mauch sold 4,968 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 42,351 shares in the company, valued at approximately $12,455,852.61. This represents a 10.50% 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 valued at $9,993,789 in the last quarter. 10.80% of the stock is currently owned by corporate insiders.

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.