HighTower Advisors LLC Trims Holdings in Cencora, Inc. $COR

Key Points

• HighTower Advisors LLC reduced its stake in Cencora, Inc., selling 2,097 shares and holding a total of 127,697 shares, valued at approximately $35.5 million.
• Numerous analysts rated Cencora as a "Moderate Buy," with price targets ranging from $330.00 to $354.00, indicating positive market sentiment towards the stock.
• Cencora recently announced a quarterly dividend of $0.55 per share, reflecting a yield of 0.7%, with the ex-dividend date set for August 15th.

HighTower Advisors LLC cut its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 127,697 shares of the company's stock after selling 2,097 shares during the quarter. HighTower Advisors LLC owned approximately 0.07% of Cencora worth $35,511,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of COR. Bernard Wealth Management Corp. bought a new position in Cencora in the 4th quarter worth approximately $67,000. Mariner LLC boosted its holdings in shares of Cencora by 3.6% in the fourth quarter. Mariner LLC now owns 56,412 shares of the company's stock worth $12,675,000 after acquiring an additional 1,969 shares during the period. CreativeOne Wealth LLC grew its position in shares of Cencora by 6.0% in the fourth quarter. CreativeOne Wealth LLC now owns 5,708 shares of the company's stock valued at $1,282,000 after purchasing an additional 322 shares in the last quarter. Gabelli Funds LLC raised its stake in shares of Cencora by 1.3% during the 4th quarter. Gabelli Funds LLC now owns 56,725 shares of the company's stock valued at $12,745,000 after purchasing an additional 725 shares during the period. Finally, Zacks Investment Management purchased a new stake in Cencora during the 4th quarter worth about $386,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Analyst Ratings Changes

COR has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their target price on Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Jefferies Financial Group upped their target price on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Robert W. Baird boosted their price target on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Finally, Citigroup increased their price objective on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Cencora has a consensus rating of "Moderate Buy" and a consensus price target of $311.25.

Cencora Price Performance

COR traded up $4.0990 during midday trading on Tuesday, hitting $294.4490. The stock had a trading volume of 232,461 shares, compared to its average volume of 1,558,090. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. The business has a fifty day moving average of $292.83 and a 200 day moving average of $279.55. The company has a market cap of $57.09 billion, a P/E ratio of 30.31, a price-to-earnings-growth ratio of 1.39 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm had revenue of $80.66 billion during the quarter, compared to analyst estimates of $80.34 billion. During the same period in the previous year, the business posted $3.34 EPS. The business's quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 15th. Cencora's dividend payout ratio (DPR) is 22.63%.

Insider Activity

In other news, CEO Robert P. Mauch sold 4,968 shares of the business's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $294.11, for a total value of $1,461,138.48. Following the completion of the sale, the chief executive officer owned 42,351 shares of the company's stock, valued at approximately $12,455,852.61. The trade was a 10.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Steven H. Collis sold 14,579 shares of the firm'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 value of $4,266,106.98. Following the transaction, the chairman owned 311,913 shares in the company, 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. In the last quarter, insiders sold 34,125 shares of company stock worth $9,993,789. Company insiders own 10.80% of the company's stock.

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.