New Age Alpha Advisors LLC Purchases 9,261 Shares of Cencora, Inc. (NYSE:COR)

Key Points

• New Age Alpha Advisors LLC increased its position in Cencora, Inc. by 297.5%, acquiring a total of 12,374 shares valued at approximately $3.44 million.
• Analyst ratings are mostly positive, with ten analysts giving a buy rating and an average target price of $309.83 for Cencora stock.
• Cencora announced a quarterly dividend of $0.55 per share, representing a yield of 0.8% and a dividend payout ratio of 25.52%.

New Age Alpha Advisors LLC boosted its position in Cencora, Inc. (NYSE:COR - Free Report) by 297.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,374 shares of the company's stock after buying an additional 9,261 shares during the quarter. New Age Alpha Advisors LLC's holdings in Cencora were worth $3,441,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Westfield Capital Management Co. LP bought a new position in shares of Cencora during the 1st quarter worth approximately $80,359,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Cencora during the 1st quarter worth $1,468,000. ING Groep NV bought a new stake in Cencora during the 1st quarter worth $5,961,000. Haven Private LLC grew its position in Cencora by 2.3% during the 1st quarter. Haven Private LLC now owns 3,426 shares of the company's stock worth $953,000 after acquiring an additional 76 shares during the last quarter. Finally, Argent Trust Co grew its position in shares of Cencora by 5.3% in the 1st quarter. Argent Trust Co now owns 26,931 shares of the company's stock valued at $7,489,000 after buying an additional 1,356 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on COR shares. Jefferies Financial Group upped their price target on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research note on Monday, June 30th. Morgan Stanley set a $330.00 price target on Cencora and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Citigroup raised their target price on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Bank of America raised their target price on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Finally, Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $309.83.

Insider Transactions at Cencora

In related news, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the transaction, the chairman owned 311,913 shares in the company, valued at $91,271,982.06. The trade was a 4.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $294.11, for a total value of $1,461,138.48. Following the sale, the chief executive officer directly 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,125 shares of company stock worth $9,993,789. 10.80% of the stock is owned by company insiders.

Cencora Price Performance

NYSE COR traded up $7.06 during trading hours on Friday, reaching $285.46. 1,106,201 shares of the stock traded hands, compared to its average volume of 1,099,116. The stock has a 50 day simple moving average of $292.51 and a two-hundred day simple moving average of $277.58. 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 current ratio of 0.90 and a quick ratio of 0.52. The company has a market cap of $55.33 billion, a price-to-earnings ratio of 29.37, a price-to-earnings-growth ratio of 1.36 and a beta of 0.58.

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

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, August 15th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, August 15th. Cencora's payout ratio is currently 22.63%.

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.