Sequoia Financial Advisors LLC Raises Stake in Cencora, Inc. (NYSE:COR)

Sequoia Financial Advisors LLC raised its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 30.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,392 shares of the company's stock after buying an additional 2,218 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Cencora were worth $2,612,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Alpine Bank Wealth Management acquired a new stake in Cencora during the 1st quarter worth about $131,000. Golden State Wealth Management LLC raised its position in shares of Cencora by 157.6% during the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock worth $47,000 after acquiring an additional 104 shares during the last quarter. Golden State Equity Partners boosted its holdings in shares of Cencora by 3.6% in the 1st quarter. Golden State Equity Partners now owns 1,678 shares of the company's stock valued at $467,000 after buying an additional 58 shares during the last quarter. Cornerstone Wealth Group LLC bought a new position in shares of Cencora in the first quarter worth $635,000. Finally, Retirement Guys Formula LLC grew its position in Cencora by 7.6% in the first quarter. Retirement Guys Formula LLC now owns 6,663 shares of the company's stock valued at $1,853,000 after acquiring an additional 471 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company's stock.

Wall Street Analysts Forecast Growth

COR has been the subject of several recent analyst reports. Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Robert W. Baird raised their target price on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Wall Street Zen upgraded Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Jefferies Financial Group boosted their price target on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research report on Monday. Finally, Morgan Stanley set a $288.00 price target on Cencora in a report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $306.33.

Cencora Stock Up 0.0%

Shares of COR traded up $0.06 during mid-day trading on Monday, reaching $299.48. The company's stock had a trading volume of 1,284,615 shares, compared to its average volume of 1,503,791. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35. The business has a fifty day moving average of $289.95 and a 200 day moving average of $265.45. The company has a market cap of $58.05 billion, a price-to-earnings ratio of 34.74, a price-to-earnings-growth ratio of 1.48 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating the consensus estimate of $4.07 by $0.35. The company had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The business's revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company earned $3.80 earnings per share. As a group, analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Friday, May 16th. Cencora's dividend payout ratio (DPR) is 25.52%.

Insiders Place Their Bets

In other Cencora news, Chairman Steven H. Collis sold 14,579 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total value of $4,266,106.98. Following the sale, the chairman owned 311,913 shares in the company, valued at $91,271,982.06. This trade represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction on Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the transaction, the chief executive officer directly owned 47,582 shares of the company's stock, valued at $13,766,900.06. This represents a 9.46% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,127 shares of company stock valued at $9,812,296. Company 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.