Bleakley Financial Group LLC Sells 44,342 Shares of Cencora, Inc. (NYSE:COR)

Bleakley Financial Group LLC lessened its stake in shares of Cencora, Inc. (NYSE:COR) by 79.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,228 shares of the company’s stock after selling 44,342 shares during the quarter. Bleakley Financial Group LLC’s holdings in Cencora were worth $2,527,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Rise Advisors LLC bought a new stake in Cencora during the first quarter worth approximately $25,000. New Millennium Group LLC bought a new stake in shares of Cencora during the 2nd quarter worth $26,000. TCTC Holdings LLC acquired a new position in Cencora in the 1st quarter valued at $29,000. TFO Wealth Partners LLC bought a new position in Cencora in the 1st quarter worth $30,000. Finally, MFA Wealth Advisors LLC acquired a new position in Cencora during the 2nd quarter worth $30,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction 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 sale, the insider now owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction 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 completion of the transaction, the executive vice president now owns 10,948 shares in the company, valued at approximately $2,656,970.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the 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 in the company, valued at $4,806,388,800. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.80% of the company’s stock.

Cencora Price Performance

NYSE:COR opened at $237.43 on Friday. 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 company has a 50-day moving average of $232.38 and a 200-day moving average of $231.14. Cencora, Inc. has a 52 week low of $182.75 and a 52 week high of $247.66. The company has a market capitalization of $47.36 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 1.40 and a beta of 0.44.

Cencora (NYSE:COR) last announced its quarterly 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. The firm had revenue of $74.20 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the company earned $2.92 earnings per share. As a group, equities research analysts anticipate that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend was Friday, August 9th. Cencora’s dividend payout ratio (DPR) is 22.32%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. 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 report on Friday, September 6th. Leerink Partners dropped their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Bank of America reissued a “neutral” rating and issued a $245.00 price objective (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Evercore ISI dropped their target price on shares of Cencora from $270.00 to $250.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Finally, StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $259.44.

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.