Simplicity Wealth LLC Makes New Investment in Cencora, Inc. $COR

Simplicity Wealth LLC purchased a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,852 shares of the company's stock, valued at approximately $555,000.

A number of other large investors also recently bought and sold shares of the stock. Invesco Ltd. raised its stake in shares of Cencora by 42.1% in the 1st quarter. Invesco Ltd. now owns 4,607,964 shares of the company's stock valued at $1,281,429,000 after acquiring an additional 1,364,433 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Cencora by 4,459.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 997,233 shares of the company's stock valued at $277,321,000 after acquiring an additional 975,362 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Cencora by 8.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company's stock valued at $2,682,821,000 after acquiring an additional 787,858 shares during the period. Nuveen LLC purchased a new position in shares of Cencora in the 1st quarter valued at $181,284,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Cencora by 144.4% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 743,072 shares of the company's stock valued at $206,641,000 after acquiring an additional 439,008 shares during the period. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Price Performance

COR opened at $308.63 on Wednesday. The firm has a market cap of $59.84 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 1.43 and a beta of 0.63. 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 twelve month low of $219.69 and a twelve month high of $315.23. The company has a fifty day simple moving average of $295.45 and a 200 day simple moving average of $290.80.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.21. The company 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 firm's revenue for the quarter was up 8.7% compared to the same quarter last year. 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 issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Cencora's dividend payout ratio (DPR) is currently 22.63%.

Insider Buying and Selling at Cencora

In other Cencora news, Chairman Steven H. Collis sold 31,350 shares of the firm's 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 completion of the transaction, the chairman directly owned 305,913 shares of the company's stock, valued at $88,671,942.18. This trade represents a 9.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert P. Mauch sold 5,097 shares of the firm's stock in a transaction 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 approximately $11,389,460. This represents a 11.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,993 shares of company stock valued at $16,292,923. 10.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Cencora in a research note on Saturday, September 27th. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company raised 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. Finally, Jefferies Financial Group raised their price target on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a report on Monday, June 30th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $314.55.

About Cencora

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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