Diversified Trust Co Buys New Position in Cencora, Inc. (NYSE:COR)

Diversified Trust Co bought a new stake in Cencora, Inc. (NYSE:COR) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 48,209 shares of the company’s stock, valued at approximately $11,714,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in COR. Oak Asset Management LLC bought a new stake in Cencora during the first quarter worth $1,104,000. LVW Advisors LLC purchased a new position in shares of Cencora in the 1st quarter worth about $623,000. Koss Olinger Consulting LLC bought a new position in Cencora during the first quarter valued at about $5,464,000. SteelPeak Wealth LLC bought a new stake in Cencora in the first quarter worth about $1,874,000. Finally, Ironwood Financial llc purchased a new position in Cencora in the first quarter valued at about $2,948,000. 97.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on COR shares. Citigroup lifted their price target on shares of Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Robert W. Baird increased their target price on shares of Cencora from $275.00 to $277.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Finally, SVB Leerink restated an “outperform” rating and set a $275.00 price target on shares of Cencora in a research note on Thursday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $235.30.

Insider Activity

In other news, CEO Steven H. Collis sold 10,754 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the sale, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at approximately $67,702,698.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the 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 owns 24,418,171 shares in the company, valued at $5,252,836,945.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven H. Collis sold 10,754 shares of the business’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the completion of the sale, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at approximately $67,702,698.24. The disclosure for this sale can be found here. Insiders sold a total of 1,956,675 shares of company stock worth $422,352,056 over the last 90 days. Corporate insiders own 15.80% of the company’s stock.

Cencora Price Performance

Shares of NYSE COR traded down $1.29 during mid-day trading on Monday, reaching $224.01. 456,119 shares of the company were exchanged, compared to its average volume of 1,399,643. The company’s 50 day moving average price is $229.12 and its 200 day moving average price is $228.16. The stock has a market capitalization of $44.68 billion, a PE ratio of 24.65, a PEG ratio of 1.57 and a beta of 0.45. Cencora, Inc. has a 52 week low of $171.65 and a 52 week high of $246.75. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 3.41.

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

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were issued a $0.51 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.91%. Cencora’s dividend payout ratio is currently 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.