Cornerstone Wealth Group LLC Takes Position in Cencora, Inc. (NYSE:COR)

Cornerstone Wealth Group LLC bought a new position in Cencora, Inc. (NYSE:COR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,282 shares of the company's stock, valued at approximately $635,000.

Several other hedge funds also recently bought and sold shares of the company. Net Worth Advisory Group lifted its holdings 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 acquiring an additional 36 shares during the period. Whittier Trust Co. increased its stake in Cencora by 0.6% in the fourth quarter. Whittier Trust Co. now owns 7,856 shares of the company's stock valued at $1,765,000 after acquiring an additional 44 shares during the period. Cullen Frost Bankers Inc. raised its position in Cencora by 1.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 4,463 shares of the company's stock worth $1,003,000 after purchasing an additional 47 shares in the last quarter. Permanent Capital Management LP lifted its stake in Cencora by 4.0% during the first quarter. Permanent Capital Management LP now owns 1,238 shares of the company's stock worth $344,000 after purchasing an additional 48 shares during the period. Finally, Exchange Traded Concepts LLC lifted its stake in Cencora by 4.5% during the first quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company's stock worth $307,000 after purchasing an additional 48 shares during the period. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Price Performance

NYSE COR traded up $4.38 on Thursday, hitting $296.70. 1,645,496 shares of the company were exchanged, compared to its average volume of 1,517,030. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $309.35. The firm has a 50 day moving average of $289.70 and a two-hundred day moving average of $264.56. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01. The company has a market cap of $57.51 billion, a P/E ratio of 34.42, a P/E/G ratio of 1.46 and a beta of 0.58.

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, topping analysts' consensus estimates of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The company had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. Cencora's quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the business earned $3.80 earnings per share. On average, equities analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were given a $0.55 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a yield of 0.74%. Cencora's payout ratio is 25.52%.

Insider Activity

In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $289.33, for a total value of $1,437,680.77. Following the transaction, the chief executive officer now directly owns 47,582 shares of the company's stock, valued at approximately $13,766,900.06. This trade represents a 9.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the sale, the chairman now owns 311,913 shares of the company's stock, valued at $91,271,982.06. The trade was a 4.47% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,127 shares of company stock valued at $9,812,296. Company insiders own 10.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Bank of America upped their price objective on Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, April 11th. Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $274.00 to $337.00 in a research report on Tuesday, June 3rd. UBS Group lifted their price objective on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Robert W. Baird boosted their target price 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, Morgan Stanley set a $288.00 target price on shares of Cencora in a research report on Tuesday, April 15th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Cencora has a consensus rating of "Moderate Buy" and a consensus price target of $306.91.

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.