Wealth Enhancement Advisory Services LLC Raises Position in Cencora, Inc. (NYSE:COR)

Wealth Enhancement Advisory Services LLC raised its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 0.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 273,522 shares of the company's stock after acquiring an additional 1,884 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.14% of Cencora worth $76,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of COR. Norges Bank purchased a new position in shares of Cencora during the 4th quarter valued at $478,309,000. Bank of America Corp DE lifted its stake in shares of Cencora by 62.3% during the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock valued at $1,166,944,000 after buying an additional 1,994,256 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new position in shares of Cencora during the 4th quarter valued at $399,508,000. GAMMA Investing LLC lifted its stake in shares of Cencora by 43,561.9% during the 1st quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company's stock valued at $444,516,000 after buying an additional 1,594,800 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Cencora during the 4th quarter valued at $322,460,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Stock Performance

Cencora stock opened at $296.92 on Friday. The company's 50-day moving average price is $288.80 and its 200-day moving average price is $262.88. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. The company has a market cap of $57.55 billion, a PE ratio of 34.44, a price-to-earnings-growth ratio of 1.47 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, topping analysts' consensus estimates of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The firm had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. During the same period in the previous year, the firm posted $3.80 EPS. The business's quarterly revenue was up 10.3% on a year-over-year basis. On average, equities research analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal 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 issued a $0.55 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.74%. Cencora's dividend payout ratio (DPR) is presently 25.52%.

Analyst Ratings Changes

A number of research firms recently weighed in on COR. UBS Group lifted their target price on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Robert W. Baird lifted their target price on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Bank of America lifted their price target on shares of Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a report on Friday, April 11th. Finally, Wall Street Zen upgraded shares of Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Cencora presently has a consensus rating of "Moderate Buy" and a consensus target price of $306.91.

Insider Transactions at Cencora

In other news, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total value of $4,108,507.99. Following the sale, the chairman now directly owns 315,913 shares in the company, valued at $89,027,442.53. The trade was a 4.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert P. Mauch sold 4,969 shares of the business's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the completion of the sale, the chief executive officer now owns 47,582 shares in the company, valued at approximately $13,766,900.06. This trade represents a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,253 shares of company stock worth $10,582,297 in the last three months. 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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