Sunbelt Securities Inc. Buys Shares of 275 Cencora, Inc. (NYSE:COR)

Sunbelt Securities Inc. purchased a new position in Cencora, Inc. (NYSE:COR) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 275 shares of the company’s stock, valued at approximately $67,000.

Several other institutional investors have also made changes to their positions in COR. Rise Advisors LLC purchased a new stake in shares of Cencora during the 1st quarter worth about $25,000. CVA Family Office LLC bought a new position in Cencora during the first quarter valued at approximately $34,000. Bruce G. Allen Investments LLC acquired a new stake in Cencora in the first quarter valued at approximately $43,000. Trust Co. of Vermont bought a new stake in Cencora in the fourth quarter worth approximately $62,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Cencora during the 1st quarter worth $75,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of Cencora stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the sale, the insider now owns 24,418,171 shares in the company, valued at $5,252,836,945.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Gina Clark sold 1,874 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $223.86, for a total transaction of $419,513.64. Following the completion of the transaction, the executive vice president now owns 13,284 shares in the company, valued at approximately $2,973,756.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the company’s stock in a transaction 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 completion of the sale, the insider now 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 ninety days, insiders sold 1,956,675 shares of company stock worth $422,352,056. 15.80% of the stock is owned by corporate insiders.

Cencora Trading Down 1.2 %

Shares of 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. Cencora, Inc. has a 1 year low of $171.65 and a 1 year high of $246.75. The firm’s fifty day simple moving average is $229.12 and its 200 day simple moving average is $228.16. The firm has a market capitalization of $44.94 billion, a P/E ratio of 24.65, a price-to-earnings-growth ratio of 1.57 and a beta of 0.48.

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

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Thursday, May 9th. Cencora’s dividend payout ratio is presently 22.32%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on COR shares. SVB Leerink reiterated an “outperform” rating and issued 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 stock an “outperform” rating in a research note on Thursday, May 2nd. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Finally, Citigroup upped their target price on Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $235.30.

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.