Cencora, Inc. (NYSE:COR) Shares Acquired by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. increased its position in shares of Cencora, Inc. (NYSE:COR) by 67.9% during the first quarter, Holdings Channel.com reports. The fund owned 2,817 shares of the company’s stock after acquiring an additional 1,139 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Cencora were worth $783,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COR. Cornerstone Planning Group LLC grew its stake in shares of Cencora by 106.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock worth $26,000 after purchasing an additional 48 shares during the last quarter. Hoey Investments Inc. bought a new stake in Cencora during the first quarter worth approximately $28,000. Banque Transatlantique SA acquired a new position in Cencora in the fourth quarter worth approximately $29,000. Vermillion Wealth Management Inc. acquired a new position in Cencora in the fourth quarter worth approximately $38,000. Finally, Golden State Wealth Management LLC increased its holdings in shares of Cencora by 157.6% in the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock valued at $47,000 after buying an additional 104 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Cencora Stock Performance

COR stock opened at $290.17 on Monday. The firm has a 50 day simple moving average of $293.31 and a 200 day simple moving average of $274.79. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The stock has a market cap of $56.24 billion, a P/E ratio of 33.66, a P/E/G ratio of 1.44 and a beta of 0.57. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.52 and a current ratio of 0.87.

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

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were given a dividend of $0.55 per share. The ex-dividend date was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a yield of 0.76%. Cencora’s payout ratio is 25.52%.

Analyst Ratings Changes

A number of brokerages recently issued reports on COR. Jefferies Financial Group lifted their target price on Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a report on Monday, June 30th. Wells Fargo & Company raised Cencora from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Citigroup boosted their price objective on Cencora from $330.00 to $355.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Finally, UBS Group lifted their target price on shares of Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $309.83.

Insider Transactions at Cencora

In related news, Chairman Steven H. Collis sold 14,579 shares of the business’s stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total value of $4,266,106.98. Following the completion of the sale, the chairman owned 311,913 shares of the company’s stock, valued at approximately $91,271,982.06. The trade was a 4.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert P. Mauch sold 4,968 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the transaction, the chief executive officer directly owned 42,351 shares in the company, valued at approximately $12,455,852.61. The trade was a 10.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,125 shares of company stock worth $9,993,789 in the last 90 days. Corporate insiders own 10.80% of the company’s stock.

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.