MJP Associates Inc. ADV Buys New Stake in Cencora, Inc. (NYSE:COR)

MJP Associates Inc. ADV purchased a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,122 shares of the company's stock, valued at approximately $252,000.

Other institutional investors also recently modified their holdings of the company. JFS Wealth Advisors LLC increased its holdings in Cencora by 63.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company's stock valued at $27,000 after purchasing an additional 46 shares during the period. Banque Transatlantique SA acquired a new stake in Cencora in the fourth quarter valued at $29,000. SBI Securities Co. Ltd. acquired a new stake in Cencora in the fourth quarter valued at $30,000. Householder Group Estate & Retirement Specialist LLC increased its holdings in Cencora by 85.2% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company's stock valued at $33,000 after purchasing an additional 69 shares during the period. Finally, Kentucky Trust Co acquired a new stake in Cencora in the fourth quarter valued at $33,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Trading Up 1.5%

Cencora stock traded up $4.27 during mid-day trading on Friday, hitting $290.24. The company's stock had a trading volume of 1,355,556 shares, compared to its average volume of 1,544,753. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The stock has a market cap of $56.28 billion, a price-to-earnings ratio of 41.29, a price-to-earnings-growth ratio of 1.31 and a beta of 0.60. The business has a 50 day moving average price of $279.10 and a 200-day moving average price of $255.35. Cencora, Inc. has a 12 month low of $214.77 and a 12 month high of $309.35.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly 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 net margin of 0.46% and a return on equity of 328.62%. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.80 earnings per share. As a group, analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 16th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, May 16th. Cencora's payout ratio is 25.52%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on COR shares. Evercore ISI increased their price objective on Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. StockNews.com raised shares of Cencora from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Bank of America raised their price target on shares of Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research report on Friday, April 11th. Morgan Stanley set a $288.00 target price on shares of Cencora in a research report on Tuesday, April 15th. Finally, UBS Group raised their price target on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cencora presently has an average rating of "Moderate Buy" and a consensus price target of $301.18.

Insider Buying and Selling at Cencora

In related news, Chairman Steven H. Collis sold 14,578 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the transaction, the chairman now owns 317,913 shares in the company, valued at $85,680,732.63. This represents a 4.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Silvana Battaglia sold 5,000 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the transaction, the executive vice president now owns 15,374 shares in the company, valued at $3,724,197.76. The trade was a 24.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,223 shares of company stock worth $13,580,967. 10.80% of the stock is currently owned by company insiders.

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.