SOA Wealth Advisors LLC. Raises Stake in Cencora, Inc. (NYSE:COR)

SOA Wealth Advisors LLC. raised its stake in Cencora, Inc. (NYSE:COR - Free Report) by 211,666.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,353 shares of the company's stock after purchasing an additional 6,350 shares during the period. SOA Wealth Advisors LLC.'s holdings in Cencora were worth $1,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. purchased a new stake in shares of Cencora during the fourth quarter worth about $205,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Cencora by 15.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,037 shares of the company's stock worth $7,233,000 after purchasing an additional 4,283 shares during the period. Choreo LLC lifted its holdings in shares of Cencora by 1.6% during the fourth quarter. Choreo LLC now owns 4,841 shares of the company's stock worth $1,088,000 after purchasing an additional 76 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Cencora by 1.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,597 shares of the company's stock worth $6,425,000 after purchasing an additional 312 shares during the period. Finally, Generate Investment Management Ltd lifted its holdings in shares of Cencora by 92.4% during the fourth quarter. Generate Investment Management Ltd now owns 46,508 shares of the company's stock worth $10,449,000 after purchasing an additional 22,330 shares during the period. Hedge funds and other institutional investors own 97.52% of the company's stock.

Insider Transactions at Cencora

In related news, EVP Elizabeth S. Campbell sold 4,127 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $268.28, for a total value of $1,107,191.56. Following the completion of the transaction, the executive vice president now directly owns 14,665 shares of the company's stock, valued at approximately $3,934,326.20. This represents a 21.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lazarus Krikorian sold 2,000 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $260.06, for a total value of $520,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,154 shares of the company's stock, valued at approximately $5,241,249.24. This represents a 9.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,253 shares of company stock valued at $11,102,417 in the last three months. 10.80% of the stock is currently owned by company insiders.

Cencora Price Performance

Shares of COR stock traded up $0.60 during trading hours on Friday, hitting $289.01. 1,302,615 shares of the company's stock were exchanged, compared to its average volume of 1,528,602. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The firm has a market cap of $56.02 billion, a P/E ratio of 41.11, a P/E/G ratio of 1.31 and a beta of 0.58. The firm has a 50 day moving average of $286.29 and a two-hundred day moving average of $260.27. 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 announced its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, topping the consensus estimate of $4.07 by $0.35. The business had revenue of $75.50 billion during the quarter, compared to the consensus estimate of $75.41 billion. Cencora had a return on equity of 328.62% and a net margin of 0.46%. The business's quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the company posted $3.80 EPS. Sell-side analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Friday, May 16th. Cencora's payout ratio is 25.52%.

Wall Street Analyst Weigh In

A number of research firms recently commented on COR. Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Morgan Stanley set a $288.00 target price on Cencora in a report on Tuesday, April 15th. Robert W. Baird lifted their target price on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Wall Street Zen raised Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Finally, Citigroup upped their price objective on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $306.91.

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.