Lake Street Advisors Group LLC Has $760,000 Position in Cencora, Inc. (NYSE:COR)

Lake Street Advisors Group LLC lessened its position in Cencora, Inc. (NYSE:COR) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,372 shares of the company’s stock after selling 70 shares during the period. Lake Street Advisors Group LLC’s holdings in Cencora were worth $760,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rise Advisors LLC acquired a new position in Cencora in the 1st quarter worth about $25,000. Legacy Bridge LLC acquired a new position in Cencora in the 1st quarter worth about $27,000. New Millennium Group LLC acquired a new position in Cencora in the 2nd quarter worth about $26,000. TCTC Holdings LLC acquired a new position in Cencora in the 1st quarter worth about $29,000. Finally, TFO Wealth Partners LLC acquired a new position in Cencora in the 1st quarter worth about $30,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insiders Place Their Bets

In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the transaction, the chief executive officer now owns 285,088 shares in the company, valued at $63,323,746.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the transaction, the chief executive officer now owns 285,088 shares in the company, valued at $63,323,746.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,450,399 shares of company stock worth $1,070,392,799. Corporate insiders own 15.80% of the company’s stock.

Cencora Trading Down 0.5 %

NYSE COR opened at $234.97 on Friday. The business has a 50 day simple moving average of $232.44 and a 200 day simple moving average of $233.21. Cencora, Inc. has a one year low of $172.41 and a one year high of $247.66. The stock has a market capitalization of $46.87 billion, a P/E ratio of 25.71, a P/E/G ratio of 1.57 and a beta of 0.44. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55.

Cencora (NYSE:COR) last released its earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $73.32 billion. During the same quarter last year, the firm posted $2.92 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. Research analysts expect that Cencora, Inc. will post 13.61 earnings per share for the current year.

Cencora Announces Dividend

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

Analyst Ratings Changes

COR has been the subject of a number of recent research reports. Leerink Partners reaffirmed an “outperform” rating and issued a $275.00 target price on shares of Cencora in a report on Thursday, June 27th. StockNews.com raised Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Robert W. Baird decreased their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research note on Friday. JPMorgan Chase & Co. increased their price target on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company increased their price target on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cencora has an average rating of “Moderate Buy” and an average target price of $258.13.

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.