Wealth Enhancement Advisory Services LLC Has $82.28 Million Stock Position in Cencora, Inc. $COR

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Cencora, Inc. by 1.6%, acquiring an additional 4,248 shares during the second quarter, bringing its total ownership to approximately 0.14% of the company.
• Cencora reported $4.00 earnings per share for the latest quarter, exceeding analysts' expectations of $3.79, with a revenue of $80.66 billion, up 8.7% from the previous year.
• The company has announced a quarterly dividend of $0.55, resulting in an annualized yield of 0.8%, with a payout ratio of 22.63%.

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 1.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 277,770 shares of the company's stock after buying an additional 4,248 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.14% of Cencora worth $82,284,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in Cencora by 8.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company's stock worth $2,682,821,000 after buying an additional 787,858 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Cencora by 7.2% in the first quarter. Wellington Management Group LLP now owns 5,421,262 shares of the company's stock valued at $1,507,599,000 after purchasing an additional 363,402 shares in the last quarter. Boston Partners lifted its holdings in shares of Cencora by 8.1% in the first quarter. Boston Partners now owns 5,411,193 shares of the company's stock valued at $1,505,984,000 after purchasing an additional 404,093 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Cencora by 42.1% in the first quarter. Invesco Ltd. now owns 4,607,964 shares of the company's stock valued at $1,281,429,000 after purchasing an additional 1,364,433 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Cencora by 9.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,711,281 shares of the company's stock valued at $475,890,000 after purchasing an additional 154,311 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Down 0.2%

COR traded down $0.52 during trading hours on Friday, reaching $290.32. 7,182,669 shares of the stock traded hands, compared to its average volume of 1,405,903. The company has a market cap of $56.29 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 1.38 and a beta of 0.62. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35. The firm's fifty day simple moving average is $292.42 and its two-hundred day simple moving average is $286.81.

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. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The company had revenue of $80.66 billion during the quarter, compared to analyst estimates of $80.34 billion. During the same period last year, the business earned $3.34 EPS. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, August 15th. Cencora's payout ratio is 22.63%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Wells Fargo & Company upped 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. Finally, Jefferies Financial Group upped 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. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $311.25.

Insider Activity at Cencora

In other news, Chairman Steven H. Collis sold 31,350 shares of Cencora stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total value of $9,087,111.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the completion of the transaction, the chief executive officer directly owned 42,351 shares in the company, valued at approximately $12,455,852.61. This trade represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,475 shares of company stock worth $19,080,900 in the last ninety days. Corporate 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.