Cencora, Inc. (NYSE:COR) Shares Sold by Belpointe Asset Management LLC

Belpointe Asset Management LLC decreased its holdings in Cencora, Inc. (NYSE:COR) by 11.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,860 shares of the company’s stock after selling 358 shares during the period. Belpointe Asset Management LLC’s holdings in Cencora were worth $644,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Consolidated Planning Corp lifted its stake in Cencora by 9.7% in the second quarter. Consolidated Planning Corp now owns 1,247 shares of the company’s stock worth $281,000 after acquiring an additional 110 shares during the last quarter. Foundations Investment Advisors LLC grew its stake in shares of Cencora by 2.1% during the second quarter. Foundations Investment Advisors LLC now owns 3,892 shares of the company’s stock worth $877,000 after purchasing an additional 80 shares in the last quarter. FSB Premier Wealth Management Inc. increased its holdings in Cencora by 45.4% in the second quarter. FSB Premier Wealth Management Inc. now owns 1,799 shares of the company’s stock valued at $405,000 after buying an additional 562 shares during the last quarter. Fortem Financial Group LLC raised its stake in Cencora by 1.2% in the second quarter. Fortem Financial Group LLC now owns 6,675 shares of the company’s stock valued at $1,504,000 after buying an additional 77 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Cencora by 0.7% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 14,254 shares of the company’s stock worth $3,211,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Trading Down 0.6 %

NYSE COR opened at $234.93 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93. The stock has a market capitalization of $46.86 billion, a P/E ratio of 25.70, a P/E/G ratio of 1.57 and a beta of 0.44. Cencora, Inc. has a 52-week low of $172.41 and a 52-week high of $247.66. The firm has a 50-day moving average price of $232.25 and a 200 day moving average price of $233.18.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The business had revenue of $74.20 billion during the quarter, compared to the consensus estimate of $73.32 billion. During the same period in the prior year, the business posted $2.92 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities research analysts expect that Cencora, Inc. will post 13.61 EPS for the current year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given a dividend of $0.51 per share. The ex-dividend date was Friday, August 9th. This represents a $2.04 annualized dividend and a dividend yield of 0.87%. Cencora’s payout ratio is currently 22.32%.

Wall Street Analyst Weigh In

Several equities analysts have commented on COR shares. Robert W. Baird dropped their price target on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research note on Friday. Wells Fargo & Company raised their price objective on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Leerink Partners reiterated an “outperform” rating and set a $275.00 target price on shares of Cencora in a research note on Thursday, June 27th. Finally, StockNews.com upgraded Cencora from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.13.

Insider Transactions at Cencora

In related news, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value of $357,482.37. Following the completion of the sale, the executive vice president now owns 10,948 shares in the company, valued at $2,656,970.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the sale, the insider now owns 19,980,000 shares of the company’s stock, valued at $4,806,388,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total transaction of $357,482.37. Following the transaction, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The disclosure for this sale can be found here. Insiders have sold a total of 4,450,399 shares of company stock valued at $1,070,392,799 in the last ninety days. 15.80% of the stock is currently owned by company insiders.

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.