Jackson Wealth Management LLC Trims Position in Cencora, Inc. $COR

Key Points

• Jackson Wealth Management LLC reduced its stake in Cencora, Inc. by 3.2%, holding 28,153 shares worth approximately $8.44 million after selling 921 shares during the second quarter.
• Cencora, Inc. reported a quarterly earnings per share of $4.00, exceeding analysts' expectations, with revenues reaching $80.66 billion, an 8.7% year-over-year increase.
• The company announced a quarterly dividend of $0.55 per share, with an annualized yield of 0.7% and a payout ratio of 22.63%.

Jackson Wealth Management LLC lowered its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 3.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,153 shares of the company's stock after selling 921 shares during the period. Jackson Wealth Management LLC's holdings in Cencora were worth $8,442,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of COR. Merit Financial Group LLC raised its stake in Cencora by 47.6% during the first quarter. Merit Financial Group LLC now owns 9,749 shares of the company's stock worth $2,711,000 after purchasing an additional 3,146 shares during the period. Vest Financial LLC purchased a new position in Cencora during the first quarter worth approximately $240,000. Curat Global LLC purchased a new position in Cencora during the first quarter worth approximately $111,000. Unique Wealth LLC raised its stake in Cencora by 14.5% during the first quarter. Unique Wealth LLC now owns 1,586 shares of the company's stock worth $441,000 after purchasing an additional 201 shares during the period. Finally, Permanent Capital Management LP raised 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. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Price Performance

COR opened at $302.54 on Friday. The company has a fifty day simple moving average of $294.68 and a 200 day simple moving average of $290.08. The firm has a market cap of $58.66 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 1.44 and a beta of 0.63. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $315.23. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64.

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

Cencora Announces Dividend

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

Insiders Place Their Bets

In other Cencora news, Chairman Steven H. Collis sold 31,350 shares of the 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 transaction, the chairman directly owned 305,913 shares in the company, valued at $88,671,942.18. This represents a 9.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the transaction, the chief executive officer owned 39,274 shares in the company, valued at $11,389,460. This trade represents a 11.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,993 shares of company stock worth $16,292,923 over the last quarter. 10.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

COR has been the topic of a number of recent analyst reports. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company increased 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. Weiss Ratings reissued a "buy (b)" rating on shares of Cencora in a research report on Saturday, September 27th. Finally, Jefferies Financial Group increased their price objective on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $311.25.

Cencora 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.