Fifth Third Wealth Advisors LLC Reduces Position in Cencora, Inc. $COR

Fifth Third Wealth Advisors LLC lessened its holdings in shares of Cencora, Inc. (NYSE:COR) by 3.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,476 shares of the company’s stock after selling 87 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Cencora were worth $742,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Voleon Capital Management LP purchased a new stake in Cencora during the 1st quarter valued at about $3,111,000. Exchange Traded Concepts LLC grew its stake in shares of Cencora by 4.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company’s stock valued at $307,000 after buying an additional 48 shares during the period. Focus Partners Wealth grew its stake in shares of Cencora by 25.8% in the 1st quarter. Focus Partners Wealth now owns 5,715 shares of the company’s stock valued at $1,589,000 after buying an additional 1,171 shares during the period. Fiduciary Alliance LLC purchased a new stake in shares of Cencora in the 2nd quarter valued at approximately $262,000. Finally, Martin Capital Partners LLC grew its stake in shares of Cencora by 205.2% in the 2nd quarter. Martin Capital Partners LLC now owns 3,784 shares of the company’s stock valued at $1,135,000 after buying an additional 2,544 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on COR shares. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. Wells Fargo & Company increased their price target on shares of Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Cencora in a research note on Wednesday, October 8th. Jefferies Financial Group increased their price target 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. Finally, Wall Street Zen cut shares of Cencora from a “buy” rating to a “hold” rating in a research note on Saturday. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Cencora currently has an average rating of “Moderate Buy” and an average price target of $320.00.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the sale, the chairman directly owned 305,913 shares in the company, valued at $88,671,942.18. This represents a 9.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the sale, the chief executive officer owned 39,274 shares in the company, valued at approximately $11,389,460. This trade represents a 11.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,993 shares of company stock worth $16,292,923. 10.80% of the stock is owned by company insiders.

Cencora Stock Performance

Shares of COR stock opened at $318.01 on Monday. The firm’s 50 day moving average price is $296.99 and its 200-day moving average price is $291.87. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. Cencora, Inc. has a one year low of $221.95 and a one year high of $319.68. The firm has a market cap of $61.66 billion, a P/E ratio of 32.72, a P/E/G ratio of 1.49 and a beta of 0.63.

Cencora (NYSE:COR) last released its 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 company had revenue of $80.66 billion for 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 firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.34 EPS. As a group, equities research analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

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

Cencora 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.