Ieq Capital LLC Has $2.17 Million Stake in Cencora, Inc. (NYSE:COR)

Ieq Capital LLC grew its holdings in Cencora, Inc. (NYSE:COR) by 8.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 9,613 shares of the company’s stock after acquiring an additional 768 shares during the quarter. Ieq Capital LLC’s holdings in Cencora were worth $2,166,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Rise Advisors LLC acquired a new stake in Cencora in the 1st quarter valued at approximately $25,000. New Millennium Group LLC acquired a new stake in shares of Cencora in the second quarter worth $26,000. Legacy Bridge LLC bought a new position in Cencora during the first quarter worth $27,000. TCTC Holdings LLC bought a new position in Cencora during the first quarter worth $29,000. Finally, TFO Wealth Partners LLC acquired a new position in Cencora during the 1st quarter valued at $30,000. 97.52% of the stock is currently owned by institutional investors.

Cencora Stock Up 0.7 %

Shares of NYSE COR opened at $228.11 on Friday. Cencora, Inc. has a 52-week low of $178.21 and a 52-week high of $247.66. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. The business has a fifty day moving average of $234.84 and a two-hundred day moving average of $233.11. The stock has a market cap of $45.50 billion, a PE ratio of 24.96, a PEG ratio of 1.55 and a beta of 0.44.

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

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a $0.51 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.89%. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

Insider Activity at Cencora

In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the sale, the executive vice president now owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 10,948 shares in the company, valued at $2,656,970.12. The disclosure for this sale can be found here. Insiders sold 4,450,399 shares of company stock valued at $1,070,392,799 over the last ninety days. 15.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on COR shares. Leerink Partners restated an “outperform” rating and set a $275.00 price objective on shares of Cencora in a report on Thursday, June 27th. Robert W. Baird lowered their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. Bank of America reiterated a “neutral” rating and issued a $245.00 price objective (down previously from $275.00) on shares of Cencora in a research report on Wednesday. Wells Fargo & Company boosted their price objective on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised their target price on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $256.67.

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.