Turtle Creek Wealth Advisors LLC Invests $233,000 in Cencora, Inc. $COR

Key Points

• Turtle Creek Wealth Advisors LLC invested $233,000 in Cencora, Inc. by purchasing 776 shares in the second quarter, contributing to the company's institutional ownership of approximately 97.52%.
• Several analysts have recently upgraded their ratings on Cencora, with Wells Fargo raising the price target to $354.00 and an average price target of $324.91, indicating a strong outlook for the stock.
• Cencora announced a quarterly dividend of $0.55 per share, reflecting an annualized amount of $2.20 and a dividend yield of 0.7%, with a payout ratio of 22.63%.

Turtle Creek Wealth Advisors LLC purchased a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 776 shares of the company's stock, valued at approximately $233,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Obermeyer Wealth Partners lifted its holdings in shares of Cencora by 1.3% during the 1st quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company's stock worth $758,000 after acquiring an additional 36 shares during the period. Grove Bank & Trust lifted its stake in Cencora by 4.3% in the 2nd quarter. Grove Bank & Trust now owns 879 shares of the company's stock valued at $264,000 after purchasing an additional 36 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its stake in Cencora by 0.4% in the 2nd 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 during the last quarter. Monument Capital Management lifted its stake in Cencora by 2.4% in the 2nd quarter. Monument Capital Management now owns 1,637 shares of the company's stock valued at $491,000 after purchasing an additional 38 shares during the last quarter. Finally, Cromwell Holdings LLC lifted its stake in Cencora by 9.5% in the 1st quarter. Cromwell Holdings LLC now owns 450 shares of the company's stock valued at $125,000 after purchasing an additional 39 shares during the last quarter. Institutional investors own 97.52% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on COR. Wells Fargo & Company increased their price objective 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. Mizuho increased their price objective on shares of Cencora from $316.00 to $334.00 and gave the company an "outperform" rating in a research note on Thursday. Weiss Ratings reissued a "buy (b)" rating on shares of Cencora in a research note on Wednesday, October 8th. Jefferies Financial Group increased 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 target 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 given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $324.91.

Cencora Trading Up 1.7%

COR opened at $324.83 on Friday. Cencora, Inc. has a twelve month low of $223.92 and a twelve month high of $325.70. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. The company has a fifty day moving average of $300.30 and a 200-day moving average of $293.14. The stock has a market cap of $62.98 billion, a PE 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 posted its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. The business had revenue of $80.66 billion during the quarter, compared to analysts' expectations of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The business's quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the company posted $3.34 earnings per share. On average, sell-side analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora's dividend payout ratio (DPR) is currently 22.63%.

Insider Transactions at Cencora

In related news, CEO Robert P. Mauch sold 5,097 shares of the firm's stock in a transaction dated Thursday, September 18th. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Steven H. Collis sold 31,350 shares of the firm's stock in a transaction dated 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 transaction, the chairman directly owned 305,913 shares in the company, valued at $88,671,942.18. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,025 shares of company stock valued at $14,831,784 over the last quarter. Corporate insiders own 10.80% of the company's stock.

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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