Jackson Wealth Management LLC Sells 26,240 Shares of Cencora, Inc. $COR

Key Points

• Jackson Wealth Management cut its Cencora position by 91.6%, selling 26,240 shares and retaining 2,404 shares worth approximately $680,000. Institutional investors still own 97.52% of the company.
• Cencora exceeded quarterly expectations, reporting $4.48 in EPS and $84.75 billion in revenue, up 5.1% year over year. The company also authorized a $2 billion share repurchase and maintains a $0.60 quarterly dividend.
• Analyst sentiment remains positive, with 13 Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $370.85.

Jackson Wealth Management LLC lowered its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 91.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,404 shares of the company's stock after selling 26,240 shares during the quarter. Jackson Wealth Management LLC's holdings in Cencora were worth $680,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of COR. Accent Capital Management LLC boosted its position in shares of Cencora by 36.1% during the fourth quarter. Accent Capital Management LLC now owns 113 shares of the company's stock worth $38,000 after purchasing an additional 30 shares in the last quarter. MCF Advisors LLC raised its stake in Cencora by 11.0% during the 4th quarter. MCF Advisors LLC now owns 303 shares of the company's stock worth $102,000 after buying an additional 30 shares during the period. CYBER HORNET ETFs LLC raised its stake in Cencora by 6.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 485 shares of the company's stock worth $164,000 after buying an additional 31 shares during the period. Steph & Co. lifted its holdings in Cencora by 23.5% during the first quarter. Steph & Co. now owns 168 shares of the company's stock worth $53,000 after acquiring an additional 32 shares in the last quarter. Finally, Beacon Pointe Advisors LLC lifted its holdings in Cencora by 1.1% during the fourth quarter. Beacon Pointe Advisors LLC now owns 3,492 shares of the company's stock worth $1,180,000 after acquiring an additional 37 shares in the last quarter. Institutional investors own 97.52% of the company's stock.

Insider Buying and Selling at Cencora

In other Cencora news, Director Lauren M. Tyler purchased 550 shares of the business's stock in a transaction on Monday, June 22nd. The shares were purchased at an average cost of $270.23 per share, with a total value of $148,626.50. Following the transaction, the director directly owned 4,359 shares of the company's stock, valued at $1,177,932.57. This represents a 14.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the transaction, the executive vice president owned 19,455 shares of the company's stock, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.38% of the company's stock.

Cencora Stock Up 0.5%

NYSE:COR opened at $323.63 on Tuesday. The stock has a 50-day simple moving average of $308.43 and a 200 day simple moving average of $310.25. Cencora, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54. The company has a market cap of $61.76 billion, a PE ratio of 24.04, a PEG ratio of 1.85 and a beta of 0.57. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93.

Cencora (NYSE:COR - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, beating the consensus estimate of $4.35 by $0.13. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The firm had revenue of $84.75 billion for the quarter, compared to analysts' expectations of $84.31 billion. During the same quarter in the previous year, the business posted $4.00 EPS. The business's quarterly revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts expect that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 21st that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its stock is undervalued.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 14th. Cencora's payout ratio is currently 17.83%.

Analyst Ratings Changes

COR has been the subject of several recent analyst reports. Bank of America increased their price target on Cencora from $280.00 to $285.00 and gave the stock a "neutral" rating in a report on Wednesday, June 24th. Robert W. Baird set a $370.00 target price on shares of Cencora in a report on Thursday, August 6th. Wells Fargo & Company lifted their price target on shares of Cencora from $331.00 to $395.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded shares of Cencora from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, UBS Group increased their price objective on shares of Cencora from $412.00 to $430.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Cencora presently has a consensus rating of "Moderate Buy" and a consensus target price of $370.85.

About Cencora

Cencora NYSE: COR is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company's core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.

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