Creative Planning Raises Stock Holdings in Cencora, Inc. (NYSE:COR)

Creative Planning boosted its stake in Cencora, Inc. (NYSE:COR) by 3.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,312 shares of the company’s stock after buying an additional 998 shares during the period. Creative Planning’s holdings in Cencora were worth $6,604,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of COR. Kingswood Wealth Advisors LLC acquired a new position in Cencora in the 2nd quarter valued at about $655,000. TD Asset Management Inc acquired a new position in Cencora in the 1st quarter valued at about $95,313,000. LSV Asset Management acquired a new position in Cencora in the 1st quarter valued at about $3,579,000. Cairn Investment Group Inc. acquired a new position in Cencora in the 1st quarter valued at about $2,294,000. Finally, Lake Street Advisors Group LLC acquired a new position in Cencora in the 1st quarter valued at about $836,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cencora

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

Cencora Stock Performance

Shares of COR opened at $221.64 on Thursday. The stock has a 50 day moving average price of $234.97 and a 200 day moving average price of $232.50. 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 company has a market capitalization of $44.21 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 1.58 and a beta of 0.44. Cencora, Inc. has a 52-week low of $178.46 and a 52-week high of $247.66.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, beating 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 company had revenue of $74.20 billion during the quarter, compared to analysts’ expectations of $73.32 billion. During the same quarter in the previous year, the business earned $2.92 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. Research analysts predict that Cencora, Inc. will post 13.63 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Friday, August 9th. Cencora’s dividend payout ratio is currently 22.32%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Robert W. Baird dropped their target price on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research report on Friday, September 6th. Leerink Partners reissued an “outperform” rating and set a $275.00 price objective on shares of Cencora in a research report on Thursday, June 27th. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. 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 report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. boosted their price objective on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Cencora 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.