Navellier & Associates Inc. Sells 1,653 Shares of Cencora, Inc. (NYSE:COR)

Key Points

• Navellier & Associates Inc. reduced its stakes in Cencora, Inc. by 8.3%, resulting in ownership of 18,354 shares valued at approximately $5.36 million as of the latest SEC filing.
• Despite the reductions by some investors, several large firms like LPL Financial LLC and Mitsubishi UFJ Asset Management increased their holdings, indicating strong institutional interest in Cencora.
• Cencora's stock recently traded at $290.17, with a market cap of $56.24 billion and analysts predicting a consensus price target of $309.83, reflecting growth expectations for the company.

Navellier & Associates Inc. lessened its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 8.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,354 shares of the company's stock after selling 1,653 shares during the quarter. Navellier & Associates Inc.'s holdings in Cencora were worth $5,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of COR. Cornerstone Planning Group LLC raised its stake in shares of Cencora by 106.7% in the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock valued at $26,000 after buying an additional 48 shares during the period. Hoey Investments Inc. bought a new stake in shares of Cencora in the first quarter valued at $28,000. Banque Transatlantique SA bought a new stake in shares of Cencora in the fourth quarter valued at $29,000. Vermillion Wealth Management Inc. bought a new stake in shares of Cencora in the fourth quarter valued at $38,000. Finally, Golden State Wealth Management LLC raised its stake in shares of Cencora by 157.6% in the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock valued at $47,000 after buying an additional 104 shares during the period. Institutional investors own 97.52% of the company's stock.

Insider Activity

In other Cencora news, CEO Robert P. Mauch sold 4,968 shares of Cencora 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 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Steven H. Collis sold 14,578 shares of Cencora 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 approximately $90,702,237.71. This trade represents a 4.49% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,125 shares of company stock valued at $9,993,789. Corporate insiders own 10.80% of the company's stock.

Cencora Price Performance

Cencora stock traded down $5.27 during midday trading on Monday, hitting $285.10. 278,693 shares of the company's stock were exchanged, compared to its average volume of 1,582,015. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $309.35. The stock has a 50-day moving average price of $293.31 and a two-hundred day moving average price of $274.79. 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 market cap of $55.26 billion, a P/E ratio of 33.09, a PEG ratio of 1.44 and a beta of 0.57.

Cencora (NYSE:COR - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, topping the consensus estimate of $4.07 by $0.35. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The business had revenue of $75.50 billion during the quarter, compared to analysts' expectations of $75.41 billion. During the same period in the previous year, the business earned $3.80 earnings per share. The firm's revenue was up 10.3% on a year-over-year basis. On average, equities research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.77%. The ex-dividend date was Friday, May 16th. Cencora's dividend payout ratio (DPR) is currently 25.52%.

Analyst Ratings Changes

Several brokerages have recently weighed in on COR. Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Citigroup lifted their price target on Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Bank of America lifted their price target on Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research report on Friday, April 11th. Robert W. Baird lifted their price target on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Finally, Jefferies Financial Group lifted their price target on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $309.83.

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.