Cencora, Inc. (NYSE:COR) Stock Position Trimmed by Valley Wealth Managers Inc.

Key Points

• Valley Wealth Managers Inc. reduced its shareholding in Cencora, Inc. by 3.5%, holding 90,588 shares valued at approximately $25.2 million as of the most recent SEC filing.
• Analysts have given Cencora a consensus rating of "Moderate Buy", with a price target averaging $309.83, following several price upgrades from institutions like UBS and Bank of America.
• Cencora announced a quarterly dividend of $0.55 per share, reflecting an annual payout of $2.20 and a yield of 0.76% as of the last dividend declaration.

Valley Wealth Managers Inc. decreased its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 3.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,588 shares of the company's stock after selling 3,292 shares during the period. Cencora makes up about 1.9% of Valley Wealth Managers Inc.'s holdings, making the stock its 8th biggest position. Valley Wealth Managers Inc.'s holdings in Cencora were worth $25,192,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Cencora by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company's stock valued at $1,990,542,000 after purchasing an additional 78,066 shares during the period. Bank of America Corp DE increased its holdings in Cencora by 62.3% in the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock valued at $1,166,944,000 after buying an additional 1,994,256 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Cencora by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company's stock valued at $969,471,000 after acquiring an additional 130,213 shares during the period. Invesco Ltd. lifted its position in shares of Cencora by 20.4% during the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock valued at $728,757,000 after acquiring an additional 550,246 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Cencora by 11.6% during the 4th quarter. Northern Trust Corp now owns 2,421,237 shares of the company's stock worth $544,004,000 after acquiring an additional 252,028 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. UBS Group lifted their price objective on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley set a $330.00 price target on Cencora and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Bank of America boosted their price objective on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Robert W. Baird increased their price objective on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and raised their target price for the company 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 issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $309.83.

Cencora Stock Performance

NYSE:COR opened at $290.17 on Friday. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52. The firm has a market cap of $56.24 billion, a PE ratio of 33.66, a P/E/G ratio of 1.44 and a beta of 0.57. The firm has a 50 day simple moving average of $293.31 and a 200-day simple moving average of $274.27. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $309.35.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly 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 company had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.80 EPS. On average, equities analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Friday, May 16th. Cencora's dividend payout ratio is currently 25.52%.

Insider Activity

In other Cencora news, CEO Robert P. Mauch sold 4,968 shares of Cencora 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 transaction, the chief executive officer owned 42,351 shares in the company, valued at $12,455,852.61. This trade represents a 10.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total value 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. Over the last quarter, insiders have sold 34,125 shares of company stock worth $9,993,789. Insiders own 10.80% of the company's stock.

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.

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