Valley Wealth Managers Inc. Sells 8,819 Shares of Cencora, Inc. $COR

Key Points

• Valley Wealth Managers Inc. reduced its Cencora stake by 10.3% in the first quarter, selling 8,819 shares and leaving it with 77,025 shares worth about $24.2 million.
• Institutional ownership remains heavy, with 97.52% of Cencora shares held by institutions; major holders like Vanguard, State Street, and T. Rowe Price all reported sizable positions.
• Analysts remain mostly bullish on Cencora, with 11 Buy ratings and 3 Hold ratings, despite some recent target cuts and the company’s slightly weaker-than-expected quarterly earnings and revenue.

Valley Wealth Managers Inc. trimmed its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 10.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,025 shares of the company's stock after selling 8,819 shares during the period. Cencora accounts for approximately 1.6% of Valley Wealth Managers Inc.'s investment portfolio, making the stock its 26th biggest position. Valley Wealth Managers Inc.'s holdings in Cencora were worth $24,197,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Cencora by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 23,617,117 shares of the company's stock worth $7,976,681,000 after purchasing an additional 221,570 shares during the last quarter. State Street Corp raised its holdings in shares of Cencora by 1.3% in the 4th quarter. State Street Corp now owns 9,305,507 shares of the company's stock valued at $3,142,935,000 after purchasing an additional 115,191 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in Cencora by 160.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company's stock valued at $2,262,956,000 after purchasing an additional 4,123,795 shares during the last quarter. Geode Capital Management LLC grew its holdings in Cencora by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 5,459,476 shares of the company's stock worth $1,843,268,000 after purchasing an additional 169,055 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Cencora by 6.5% during the fourth quarter. JPMorgan Chase & Co. now owns 4,982,557 shares of the company's stock worth $1,682,859,000 after purchasing an additional 304,760 shares during the period. 97.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on COR. UBS Group upped their price objective on Cencora from $410.00 to $412.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. William Blair assumed coverage on Cencora in a research note on Tuesday, April 28th. They set a "market perform" rating for the company. Weiss Ratings lowered Cencora from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, June 30th. Citigroup dropped their price target on Cencora from $405.00 to $355.00 and set a "buy" rating on the stock in a research note on Thursday, May 7th. Finally, Wells Fargo & Company cut their price target on Cencora from $429.00 to $331.00 and set an "overweight" rating for the company in a report on Monday, May 11th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $367.75.

Insider Activity

In related news, Director Lauren M. Tyler purchased 550 shares of Cencora stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average price of $270.23 per share, with a total value of $148,626.50. Following the completion of the transaction, the director directly owned 4,359 shares of the company's stock, valued at $1,177,932.57. This represents a 14.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.38% of the company's stock.

Cencora Trading Down 0.1%

COR stock opened at $307.72 on Friday. The company has a debt-to-equity ratio of 3.40, a quick ratio of 0.59 and a current ratio of 0.95. The company's 50-day simple moving average is $279.98 and its 200 day simple moving average is $317.68. Cencora, Inc. has a 52 week low of $244.82 and a 52 week high of $377.54. The company has a market capitalization of $59.87 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 1.71 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $4.75 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($0.07). The business had revenue of $78.36 billion during the quarter, compared to analyst estimates of $81.09 billion. Cencora had a return on equity of 135.20% and a net margin of 0.78%.Cencora's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $4.42 EPS. Cencora has set its FY 2026 guidance at 17.650-17.900 EPS. As a group, sell-side analysts anticipate that Cencora, Inc. will post 17.79 earnings per share for the current year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, May 15th. Cencora's payout ratio is presently 18.40%.

Cencora announced that its board has initiated a stock repurchase program on Thursday, May 21st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its stock is undervalued.

Cencora Profile

Cencora NYSE: COR is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company's core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.

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