Fiduciary Alliance LLC Buys Shares of 875 Cencora, Inc. $COR

Key Points

• Fiduciary Alliance LLC acquired 875 shares of Cencora, Inc. (NYSE:COR) valued at approximately $262,000 during the second quarter, signaling growing investor interest in the company.
• Major institutional investments in Cencora include GAMMA Investing LLC increasing its position by 43,561.9% and Invesco Ltd. boosting its stake by 42.1%, indicating significant confidence in the company's growth.
• Recent research reports have resulted in revised target prices for Cencora shares, with Wells Fargo raising its target from $337 to $354, reflecting a positive outlook from analysts.

Fiduciary Alliance LLC acquired a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 875 shares of the company's stock, valued at approximately $262,000.

A number of other large investors also recently modified their holdings of COR. Cornerstone Planning Group LLC lifted its stake in Cencora by 106.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock valued at $26,000 after purchasing an additional 48 shares during the last quarter. Hoey Investments Inc. acquired a new stake in Cencora in the 1st quarter valued at about $28,000. Costello Asset Management INC acquired a new stake in Cencora in the 1st quarter valued at about $28,000. Vermillion Wealth Management Inc. acquired a new stake in Cencora in the 4th quarter valued at about $38,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in Cencora in the 1st quarter valued at about $39,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 transaction of $1,461,138.48. Following the transaction, the chief executive officer owned 42,351 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 31,350 shares of the business's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of the transaction, the chairman owned 305,913 shares in the company, valued at approximately $88,671,942.18. The trade was a 9.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,475 shares of company stock worth $19,080,900. 10.80% of the stock is owned by company insiders.

Cencora Stock Performance

Shares of COR traded down $0.52 during mid-day trading on Friday, hitting $290.32. 7,182,669 shares of the company's stock were exchanged, compared to its average volume of 1,405,903. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The stock's 50-day simple moving average is $292.42 and its 200-day simple moving average is $286.81. The firm has a market cap of $56.29 billion, a price-to-earnings ratio of 29.87, a price-to-earnings-growth ratio of 1.38 and a beta of 0.62. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64.

Cencora (NYSE:COR - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping the consensus estimate of $3.79 by $0.21. The company had revenue of $80.66 billion for the quarter, compared to analysts' expectations of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The business's revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the firm earned $3.34 earnings per share. On average, equities research analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders 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 0.8%. Cencora's dividend payout ratio (DPR) is currently 22.63%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on COR shares. Jefferies Financial Group raised their target price on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, June 30th. Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company raised their price objective on shares of Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Cencora currently has a consensus rating of "Moderate Buy" and a consensus target price of $311.25.

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.