Pinnacle Wealth Planning Services Inc. Acquires New Position in Cencora, Inc. $COR

Key Points

• Pinnacle Wealth Planning Services Inc. purchased 876 shares of Cencora, Inc. (NYSE: COR) valued at approximately $244,000 during the first quarter, as per its recent SEC filing.
• Institutional investors collectively own 97.52% of Cencora's stock, with several firms increasing or establishing new positions in the company in recent months.
• Cencora recently declared a quarterly dividend of $0.55 per share, with an annualized rate of $2.20 and a yield of 0.8%.

Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 876 shares of the company's stock, valued at approximately $244,000.

A number of other institutional investors have also recently made changes to their positions in the business. Cornerstone Planning Group LLC raised its holdings in shares of Cencora by 106.7% in the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after buying an additional 48 shares during the period. Hoey Investments Inc. bought a new stake in shares of Cencora during the first quarter valued at approximately $28,000. Costello Asset Management INC bought a new stake in shares of Cencora during the first quarter valued at approximately $28,000. Banque Transatlantique SA bought a new stake in shares of Cencora during the fourth quarter valued at approximately $29,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Cencora during the fourth quarter valued at approximately $38,000. Institutional investors own 97.52% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Robert W. Baird lifted their price target on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company lifted their price target on shares of Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Jefferies Financial Group lifted their price target 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. Finally, Citigroup lifted their price target on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research note 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. According to MarketBeat, Cencora currently has a consensus rating of "Moderate Buy" and an average target price of $311.25.

Cencora Stock Down 0.0%

Shares of COR stock traded down $0.03 during trading hours on Wednesday, reaching $294.82. 1,080,341 shares of the company's stock were exchanged, compared to its average volume of 1,548,886. The stock's 50 day moving average is $293.01 and its 200-day moving average is $282.84. The company has a market cap of $57.16 billion, a price-to-earnings ratio of 30.33, a P/E/G ratio of 1.38 and a beta of 0.62. 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, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. The business 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 business's quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.34 earnings per share. Analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

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

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the completion of the transaction, the chairman directly owned 311,913 shares in the company, valued at $91,271,982.06. The trade was a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert P. Mauch sold 4,968 shares of the business's 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 of the company's stock, valued at $12,455,852.61. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,125 shares of company stock worth $9,993,789. 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.