Cencora, Inc. (NYSE:COR) Shares Sold by Trivium Point Advisory LLC

Trivium Point Advisory LLC cut its stake in Cencora, Inc. (NYSE:COR) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,814 shares of the company’s stock after selling 45 shares during the period. Trivium Point Advisory LLC’s holdings in Cencora were worth $504,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of COR. Bernard Wealth Management Corp. acquired a new stake in shares of Cencora in the fourth quarter worth approximately $67,000. Mariner LLC raised its holdings in Cencora by 3.6% in the fourth quarter. Mariner LLC now owns 56,412 shares of the company’s stock valued at $12,675,000 after buying an additional 1,969 shares during the period. CreativeOne Wealth LLC raised its holdings in Cencora by 6.0% in the fourth quarter. CreativeOne Wealth LLC now owns 5,708 shares of the company’s stock valued at $1,282,000 after buying an additional 322 shares during the period. Gabelli Funds LLC raised its holdings in Cencora by 1.3% in the fourth quarter. Gabelli Funds LLC now owns 56,725 shares of the company’s stock valued at $12,745,000 after buying an additional 725 shares during the period. Finally, Zacks Investment Management purchased a new position in Cencora in the fourth quarter valued at approximately $386,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on COR. Jefferies Financial Group raised their price target on shares of Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a report on Monday, June 30th. Citigroup raised their price target on shares of Cencora from $330.00 to $355.00 and gave the company a “buy” rating in a report on Thursday, May 8th. UBS Group raised their price target on shares of Cencora from $298.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Robert W. Baird raised their price target on shares of Cencora from $314.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Finally, Wells Fargo & Company set a $354.00 price target on shares of Cencora and gave the company an “overweight” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $311.25.

Cencora Stock Up 1.4%

Shares of NYSE:COR opened at $295.20 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. The company has a fifty day simple moving average of $292.61 and a 200 day simple moving average of $278.74. The firm has a market cap of $57.22 billion, a PE ratio of 30.37, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $309.35.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.79 by $0.21. The business had revenue of $80.66 billion during the quarter, compared to analyst estimates of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.34 earnings per share. On average, equities research analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, August 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, August 15th. Cencora’s payout ratio is 22.63%.

Insiders Place Their Bets

In related news, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction on Friday, July 18th. The shares were sold at an average price of $294.11, for a total value of $1,461,138.48. Following the completion of the sale, the chief executive officer owned 42,351 shares in the company, valued at approximately $12,455,852.61. The trade was a 10.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Steven H. Collis sold 14,578 shares of Cencora stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $292.67, for a total transaction of $4,266,543.26. Following the completion of the sale, the chairman owned 309,913 shares of the company’s stock, valued at approximately $90,702,237.71. This trade represents a 4.49% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,125 shares of company stock valued at $9,993,789. 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.