7,711 Shares in Cencora, Inc. (NYSE:COR) Purchased by SteelPeak Wealth LLC

SteelPeak Wealth LLC purchased a new position in Cencora, Inc. (NYSE:COR) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,711 shares of the company’s stock, valued at approximately $1,874,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. purchased a new position in shares of Cencora in the 4th quarter worth about $4,212,508,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Cencora during the first quarter valued at about $66,911,000. PNC Financial Services Group Inc. purchased a new stake in Cencora during the fourth quarter valued at about $51,339,000. Los Angeles Capital Management LLC purchased a new stake in Cencora during the first quarter valued at about $45,692,000. Finally, Pensioenfonds Rail & OV purchased a new stake in Cencora during the first quarter valued at about $37,371,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on COR. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. SVB Leerink reaffirmed an “outperform” rating and set a $275.00 price objective on shares of Cencora in a report on Thursday. Robert W. Baird upped their price target on Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Finally, Citigroup upped their price target on Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $235.30.

Insider Buying and Selling

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total value of $399,991,976.80. Following the transaction, the insider now directly owns 24,418,171 shares in the company, valued at $5,252,836,945.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Cencora news, Director Dermot Mark Durcan purchased 500 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were purchased at an average cost of $218.58 per share, with a total value of $109,290.00. Following the completion of the purchase, the director now owns 21,876 shares of the company’s stock, valued at approximately $4,781,656.08. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of Cencora stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the transaction, the insider now directly owns 24,418,171 shares in the company, valued at $5,252,836,945.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,956,675 shares of company stock worth $422,352,056. Insiders own 15.80% of the company’s stock.

Cencora Stock Down 1.2 %

COR stock opened at $225.30 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.41. The company’s 50 day moving average is $229.12 and its 200 day moving average is $228.16. The stock has a market cap of $44.94 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 1.57 and a beta of 0.48. Cencora, Inc. has a 1-year low of $171.65 and a 1-year high of $246.75.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, topping the consensus estimate of $3.65 by $0.15. The company had revenue of $68.41 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Cencora had a net margin of 0.67% and a return on equity of 268.67%. Cencora’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.50 earnings per share. Sell-side analysts predict that Cencora, Inc. will post 13.44 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Thursday, May 9th. Cencora’s dividend payout ratio (DPR) is 22.32%.

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.