Kestra Investment Management LLC Takes Position in Cencora, Inc. (NYSE:COR)

Kestra Investment Management LLC bought a new position in Cencora, Inc. (NYSE:COR) in the 2nd quarter, Holdings Channel.com reports. The fund bought 1,694 shares of the company’s stock, valued at approximately $382,000.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on COR. StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Wells Fargo & Company raised their target price on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Leerink Partners reiterated an “outperform” rating and set a $275.00 price objective on shares of Cencora in a research report on Thursday, June 27th. JPMorgan Chase & Co. boosted their target price on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Bank of America reissued a “neutral” rating and set a $245.00 price objective (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and a consensus target price of $256.67.

Insider Buying and Selling

In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the transaction, the chief executive officer now owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Steven H. Collis sold 10,755 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the completion of the sale, the chief executive officer now directly owns 285,088 shares in the company, valued at approximately $63,323,746.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora 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 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. Insiders have sold a total of 4,450,399 shares of company stock valued at $1,070,392,799 over the last quarter. 15.80% of the stock is owned by corporate insiders.

Cencora Stock Performance

Shares of Cencora stock opened at $225.06 on Tuesday. 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’s fifty day moving average is $234.96 and its two-hundred day moving average is $232.69. Cencora, Inc. has a 52 week low of $178.21 and a 52 week high of $247.66. The company has a market capitalization of $44.89 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 1.58 and a beta of 0.44.

Cencora (NYSE:COR) last posted its quarterly 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. The company had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.92 EPS. As a group, analysts expect that Cencora, Inc. will post 13.63 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were issued a $0.51 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.91%. Cencora’s payout ratio is 22.32%.

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.