Sagespring Wealth Partners LLC Buys 242 Shares of Cencora, Inc. (NYSE:COR)

Sagespring Wealth Partners LLC lifted its stake in shares of Cencora, Inc. (NYSE:COR) by 14.5% during the first quarter, HoldingsChannel reports. The firm owned 1,908 shares of the company’s stock after acquiring an additional 242 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Cencora were worth $531,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in COR. Allworth Financial LP raised its stake in shares of Cencora by 43.7% during the 4th quarter. Allworth Financial LP now owns 2,403 shares of the company’s stock worth $593,000 after purchasing an additional 731 shares in the last quarter. Valmark Advisers Inc. acquired a new position in shares of Cencora during the 4th quarter worth approximately $233,000. J.W. Cole Advisors Inc. raised its stake in Cencora by 9.9% in the 4th quarter. J.W. Cole Advisors Inc. now owns 4,031 shares of the company’s stock valued at $906,000 after acquiring an additional 362 shares during the period. JFS Wealth Advisors LLC raised its stake in Cencora by 63.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after acquiring an additional 46 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Cencora by 3.8% in the 4th quarter. Principal Financial Group Inc. now owns 318,401 shares of the company’s stock valued at $71,538,000 after acquiring an additional 11,675 shares during the period. Institutional investors own 97.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. UBS Group increased their price target on Cencora from $298.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Bank of America increased their price target on Cencora from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, April 11th. Citigroup increased their price target on Cencora from $330.00 to $355.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Finally, Wells Fargo & Company upgraded Cencora from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $274.00 to $337.00 in a research note on Tuesday, June 3rd. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $306.91.

Cencora Stock Performance

Shares of NYSE COR opened at $296.92 on Thursday. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52. The stock’s fifty day moving average price is $288.44 and its two-hundred day moving average price is $262.56. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35. The firm has a market cap of $57.55 billion, a price-to-earnings ratio of 34.44, a P/E/G ratio of 1.45 and a beta of 0.58.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, beating analysts’ consensus estimates of $4.07 by $0.35. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The firm had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. During the same period in the prior year, the firm posted $3.80 EPS. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Friday, May 16th. Cencora’s dividend payout ratio (DPR) is currently 25.52%.

Insider Transactions at Cencora

In other news, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the sale, the chairman now directly owns 315,913 shares of the company’s stock, valued at approximately $89,027,442.53. This represents a 4.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $268.28, for a total value of $1,107,191.56. Following the sale, the executive vice president now directly owns 14,665 shares in the company, valued at approximately $3,934,326.20. This trade represents a 21.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,253 shares of company stock valued at $10,582,297. 10.80% of the stock is owned by corporate insiders.

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.