Cencora, Inc. (NYSE:COR) Shares Acquired by Cornerstone Advisory LLC

Key Points

• Cornerstone Advisory LLC increased its stake in Cencora, Inc. by 9.8% during the 1st quarter, now owning 22,897 shares valued at approximately $6.66 million.
• Multiple institutional investors, including Bank of America, have also significantly increased their positions in Cencora, leading to institutional ownership at 97.52%.
• Cencora recently reported earnings of $4.42 per share, exceeding analyst expectations, and announced a quarterly dividend of $0.55, translating to an annualized yield of 0.76%.

Cornerstone Advisory LLC boosted its position in Cencora, Inc. (NYSE:COR - Free Report) by 9.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,897 shares of the company's stock after buying an additional 2,049 shares during the period. Cornerstone Advisory LLC's holdings in Cencora were worth $6,659,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COR. Net Worth Advisory Group raised its stake in shares of Cencora by 1.4% during the 1st 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 last quarter. Obermeyer Wealth Partners raised its stake in shares of Cencora by 1.3% during the 1st quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company's stock worth $758,000 after buying an additional 36 shares during the last quarter. Cromwell Holdings LLC raised its stake in shares of Cencora by 9.5% during the 1st quarter. Cromwell Holdings LLC now owns 450 shares of the company's stock worth $125,000 after buying an additional 39 shares during the last quarter. Private Trust Co. NA raised its stake in shares of Cencora by 2.5% during the 1st quarter. Private Trust Co. NA now owns 1,933 shares of the company's stock worth $538,000 after buying an additional 47 shares during the last quarter. Finally, Permanent Capital Management LP raised its stake in shares of Cencora by 4.0% during the 1st quarter. Permanent Capital Management LP now owns 1,238 shares of the company's stock worth $344,000 after buying an additional 48 shares during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Stock Up 0.6%

Shares of COR traded up $1.71 during trading on Wednesday, reaching $291.48. The company's stock had a trading volume of 191,740 shares, compared to its average volume of 1,574,106. The company has a fifty day moving average of $293.12 and a two-hundred day moving average of $275.23. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35. The company has a market cap of $56.50 billion, a price-to-earnings ratio of 33.81, a P/E/G ratio of 1.42 and a beta of 0.57. 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 (NYSE:COR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating 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 company had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. During the same period in the prior year, the company posted $3.80 EPS. Cencora's quarterly revenue was up 10.3% on a year-over-year basis. On average, sell-side analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Friday, May 16th. Cencora's payout ratio is 25.52%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Citigroup lifted their price target on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Bank of America boosted their target price on shares of Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, April 11th. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company raised shares of Cencora from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Finally, UBS Group boosted their target price on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, Cencora has an average rating of "Moderate Buy" and an average price target of $309.83.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction that occurred on 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 sale, the chairman directly owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. This represents a 4.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert P. Mauch sold 4,968 shares of the company's stock in a transaction that occurred 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 sale, 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. Over the last ninety days, insiders sold 34,125 shares of company stock worth $9,993,789. 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.