RFG Advisory LLC Purchases Shares of 2,015 Cencora, Inc. $COR

Key Points

• RFG Advisory LLC has purchased a new stake in Cencora, Inc., acquiring 2,015 shares valued at approximately $604,000 during the second quarter of the year.
• Insider trades indicate that Chairman Steven H. Collis sold 31,350 shares for over $9 million, reducing his ownership by 9.30%, while CEO Robert P. Mauch also sold shares, leading to a decrease in his position by 11.49%.
• Wall Street analysts have increased their price targets for Cencora, with Wells Fargo raising it from $337.00 to $354.00, reflecting a consensus average price target of $324.91 and an overall rating of "Moderate Buy".

RFG Advisory LLC purchased a new stake in Cencora, Inc. (NYSE:COR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,015 shares of the company's stock, valued at approximately $604,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Obermeyer Wealth Partners lifted its holdings in shares of Cencora by 1.3% in the first quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company's stock valued at $758,000 after purchasing an additional 36 shares in the last quarter. Grove Bank & Trust lifted its holdings in shares of Cencora by 4.3% in the second quarter. Grove Bank & Trust now owns 879 shares of the company's stock valued at $264,000 after purchasing an additional 36 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of Cencora by 0.4% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 8,547 shares of the company's stock valued at $2,563,000 after purchasing an additional 38 shares in the last quarter. Monument Capital Management lifted its holdings in shares of Cencora by 2.4% in the second quarter. Monument Capital Management now owns 1,637 shares of the company's stock valued at $491,000 after purchasing an additional 38 shares in the last quarter. Finally, Cromwell Holdings LLC lifted its holdings in shares of Cencora by 9.5% in the first quarter. Cromwell Holdings LLC now owns 450 shares of the company's stock valued at $125,000 after purchasing an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company's stock.

Insider Activity at Cencora

In related news, Chairman Steven H. Collis sold 31,350 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chairman owned 305,913 shares of the company's stock, valued at approximately $88,671,942.18. This represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert P. Mauch sold 5,097 shares of the company's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the transaction, the chief executive officer directly owned 39,274 shares of the company's stock, valued at $11,389,460. This trade represents a 11.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,025 shares of company stock valued at $14,831,784 in the last ninety days. 10.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

COR has been the topic of several recent research reports. Wells Fargo & Company upped their price target on shares of Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Weiss Ratings reissued a "buy (b)" rating on shares of Cencora in a research note on Wednesday, October 8th. Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Jefferies Financial Group upped their price objective 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, Evercore ISI set a $340.00 price objective on shares of Cencora in a research note on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Cencora currently has an average rating of "Moderate Buy" and an average price target of $324.91.

Cencora Stock Performance

Shares of COR stock opened at $324.83 on Friday. Cencora, Inc. has a one year low of $223.92 and a one year high of $325.70. 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 company has a 50 day moving average price of $300.30 and a 200 day moving average price of $293.14. The firm has a market capitalization of $62.98 billion, a price-to-earnings ratio of 33.42, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping the consensus estimate 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 quarter in the prior year, the business posted $3.34 earnings per share. Cencora's revenue for the quarter was up 8.7% compared to the same quarter last year. Sell-side analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

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

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.

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