World Investment Advisors Raises Stock Holdings in Cencora, Inc. (NYSE:COR)

World Investment Advisors increased its position in Cencora, Inc. (NYSE:COR) by 7.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 20,761 shares of the company’s stock after purchasing an additional 1,444 shares during the period. World Investment Advisors’ holdings in Cencora were worth $5,773,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Cencora in the first quarter worth $253,000. Wayfinding Financial LLC purchased a new position in shares of Cencora in the first quarter worth $67,000. Olde Wealth Management LLC purchased a new position in shares of Cencora in the first quarter worth $48,000. Truist Financial Corp increased its stake in shares of Cencora by 13.3% in the first quarter. Truist Financial Corp now owns 386,199 shares of the company’s stock worth $107,398,000 after buying an additional 45,185 shares during the period. Finally, Impax Asset Management Group plc purchased a new position in shares of Cencora in the first quarter worth $662,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COR has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Robert W. Baird boosted their price objective on shares of Cencora from $314.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. UBS Group boosted their price objective on shares of Cencora from $298.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Morgan Stanley set a $288.00 price objective on shares of Cencora in a research report on Tuesday, April 15th. Finally, Jefferies Financial Group boosted their price objective on shares of Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research report on Monday, June 30th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $306.33.

Insider Transactions at Cencora

In other news, Chairman Steven H. Collis sold 14,579 shares of the company’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total value of $4,266,106.98. Following the sale, the chairman directly owned 311,913 shares of the company’s stock, valued at $91,271,982.06. This represents a 4.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert P. Mauch sold 4,969 shares of the company’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the completion of the transaction, the chief executive officer owned 47,582 shares in the company, valued at approximately $13,766,900.06. The trade was a 9.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,127 shares of company stock worth $9,812,296 over the last ninety days. Insiders own 10.80% of the company’s stock.

Cencora Stock Up 1.7%

NYSE:COR opened at $296.23 on Friday. The firm’s 50-day moving average price is $291.12 and its 200-day moving average price is $267.51. The company has a market capitalization of $57.42 billion, a PE ratio of 34.37, a P/E/G ratio of 1.47 and a beta of 0.57. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $309.35.

Cencora (NYSE:COR) last released its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, topping analysts’ consensus estimates of $4.07 by $0.35. The firm had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.80 EPS. On average, equities analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Friday, May 16th. Cencora’s dividend payout ratio is presently 25.52%.

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.