Private Advisor Group LLC Boosts Stake in Cencora, Inc. (NYSE:COR)

Private Advisor Group LLC boosted its position in shares of Cencora, Inc. (NYSE:COR) by 11.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,785 shares of the company’s stock after buying an additional 700 shares during the period. Private Advisor Group LLC’s holdings in Cencora were worth $1,529,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new position in shares of Cencora in the fourth quarter valued at $4,212,508,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Cencora in the 1st quarter worth $2,183,619,000. JPMorgan Chase & Co. bought a new stake in shares of Cencora in the 1st quarter worth about $1,199,695,000. Boston Partners bought a new stake in shares of Cencora in the 1st quarter worth about $1,001,269,000. Finally, Capital Research Global Investors purchased a new stake in shares of Cencora during the 1st quarter valued at about $650,424,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Transactions at Cencora

In related news, EVP Silvana Battaglia sold 1,473 shares of the company’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 directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was 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 approximately $4,806,388,800. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,450,399 shares of company stock valued at $1,070,392,799. 15.80% of the stock is currently owned by corporate insiders.

Cencora Trading Up 0.9 %

NYSE COR opened at $239.88 on Friday. Cencora, Inc. has a 12 month low of $175.50 and a 12 month high of $247.66. The company’s 50-day moving average price is $233.92 and its 200-day moving average price is $233.28. The stock has a market cap of $47.27 billion, a PE ratio of 26.25, a PEG ratio of 1.55 and a beta of 0.44. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.92 EPS. Equities research analysts forecast that Cencora, Inc. will post 13.63 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Friday, August 9th. Cencora’s dividend payout ratio is 22.32%.

Wall Street Analyst Weigh In

COR has been the topic of several analyst reports. Robert W. Baird reduced their price objective on Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. StockNews.com raised Cencora from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Wells Fargo & Company raised their price target on 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 stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Leerink Partners reissued an “outperform” rating and issued a $275.00 target price on shares of Cencora in a research note on Thursday, June 27th. Two 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 stock. Based on data from MarketBeat, Cencora has a consensus rating of “Moderate Buy” and a consensus target price of $258.13.

Cencora 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.