Valley National Advisers Inc. Sells 55 Shares of Cencora, Inc. $COR

Valley National Advisers Inc. cut its position in Cencora, Inc. (NYSE:COR) by 0.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,784 shares of the company’s stock after selling 55 shares during the quarter. Valley National Advisers Inc.’s holdings in Cencora were worth $2,333,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COR. Price T Rowe Associates Inc. MD lifted its position in shares of Cencora by 8.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company’s stock valued at $2,682,821,000 after acquiring an additional 787,858 shares during the period. Wellington Management Group LLP raised its holdings in Cencora by 7.2% in the 1st quarter. Wellington Management Group LLP now owns 5,421,262 shares of the company’s stock valued at $1,507,599,000 after buying an additional 363,402 shares during the last quarter. Boston Partners raised its position in Cencora by 8.1% during the 1st quarter. Boston Partners now owns 5,411,193 shares of the company’s stock worth $1,505,984,000 after purchasing an additional 404,093 shares during the last quarter. Invesco Ltd. raised its position in Cencora by 42.1% in the 1st quarter. Invesco Ltd. now owns 4,607,964 shares of the company’s stock valued at $1,281,429,000 after buying an additional 1,364,433 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Cencora by 9.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,711,281 shares of the company’s stock valued at $475,890,000 after acquiring an additional 154,311 shares during the period. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on COR shares. Morgan Stanley set a $330.00 price objective on Cencora and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Cencora in a report on Saturday, September 27th. Wells Fargo & Company raised their price target on shares of Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Finally, Jefferies Financial Group upped their target price on shares of Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research note on Monday, June 30th. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $311.25.

Insider Transactions at Cencora

In related news, CEO Robert P. Mauch sold 5,097 shares of Cencora stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $290.00, for a total value of $1,478,130.00. Following the completion of the transaction, the chief executive officer owned 39,274 shares in the company, valued at approximately $11,389,460. The trade was a 11.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 31,350 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the sale, the chairman owned 305,913 shares in the company, valued at $88,671,942.18. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,993 shares of company stock valued at $16,292,923 over the last quarter. Company insiders own 10.80% of the company’s stock.

Cencora Stock Down 2.0%

Shares of NYSE COR opened at $302.54 on Monday. The company has a market cap of $58.66 billion, a P/E ratio of 31.13, a PEG ratio of 1.41 and a beta of 0.63. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $315.23. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. The firm has a 50-day simple moving average of $294.68 and a two-hundred day simple moving average of $290.41.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm had revenue of $80.66 billion for the quarter, compared to the consensus estimate of $80.34 billion. During the same period last year, the firm earned $3.34 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. Research analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora’s payout ratio is 22.63%.

Cencora Company 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.