Chicago Partners Investment Group LLC Acquires Shares of 1,078 Cencora, Inc. $COR

Key Points

• Chicago Partners Investment Group LLC acquired 1,078 shares of Cencora, Inc. valued at approximately $316,000, signaling interest in the company's stock.
• Analysts are optimistic about Cencora, with nine rating the stock as a Buy and a target price averaging $324.91, reflecting positive sentiment on its performance.
• Insider trading was notable, as CEO Robert P. Mauch sold over $1.6 million worth of shares, indicating a decrease in his ownership by 11.84%.

Chicago Partners Investment Group LLC acquired a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 1,078 shares of the company's stock, valued at approximately $316,000.

Other institutional investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its holdings in Cencora by 106.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock valued at $26,000 after buying an additional 48 shares in the last quarter. Costello Asset Management INC purchased a new stake in Cencora during the 1st quarter valued at approximately $28,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Cencora during the 1st quarter valued at approximately $39,000. Golden State Wealth Management LLC grew its holdings in Cencora by 157.6% during the 1st 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 in the last quarter. Finally, Olde Wealth Management LLC purchased a new stake in Cencora during the 1st quarter valued at approximately $48,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COR has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Cencora in a report on Wednesday, October 8th. Mizuho increased their target price on Cencora from $316.00 to $334.00 and gave the company an "outperform" rating in a research report on Thursday, October 16th. Wells Fargo & Company increased their target price on Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Evercore ISI set a $340.00 target price on Cencora in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group increased their target price on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $324.91.

Insiders Place Their Bets

In related news, CEO Robert P. Mauch sold 5,097 shares of the firm's stock in a transaction on Monday, October 20th. The stock was sold at an average price of $326.80, for a total value of $1,665,699.60. Following the completion of the sale, the chief executive officer directly owned 37,940 shares in the company, valued at $12,398,792. This trade represents a 11.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 31,350 shares of the firm's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total value of $9,087,111.00. Following the completion of the sale, the chairman owned 305,913 shares of the company's stock, valued at approximately $88,671,942.18. This represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,544 shares of company stock valued at $12,230,941. 10.80% of the stock is owned by corporate insiders.

Cencora Stock Down 0.6%

NYSE COR opened at $328.98 on Friday. The company has a market capitalization of $63.78 billion, a P/E ratio of 33.85, a P/E/G ratio of 1.55 and a beta of 0.63. The stock has a 50 day moving average price of $303.30 and a 200-day moving average price of $294.47. Cencora, Inc. has a one year low of $223.92 and a one year high of $331.94. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.Cencora's revenue was up 8.7% on a year-over-year basis. During the same period last year, the company earned $3.34 earnings per share. As a group, equities analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were given a $0.55 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. Cencora's dividend payout ratio (DPR) is currently 22.63%.

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.

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