Equitable Trust Co. Purchases 2,552 Shares of Cencora, Inc. $COR

Equitable Trust Co. increased its stake in Cencora, Inc. (NYSE:COR) by 31.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,767 shares of the company’s stock after acquiring an additional 2,552 shares during the period. Equitable Trust Co.’s holdings in Cencora were worth $3,228,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cornerstone Planning Group LLC lifted 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 valued at $26,000 after acquiring an additional 48 shares during the last quarter. Costello Asset Management INC bought a new stake in shares of Cencora in the 1st quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. bought a new position in Cencora during the 1st quarter valued at approximately $39,000. Golden State Wealth Management LLC raised its position in Cencora by 157.6% during the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock valued at $47,000 after purchasing an additional 104 shares during the last quarter. Finally, Olde Wealth Management LLC bought a new position in Cencora during the 1st quarter valued at approximately $48,000. Institutional investors own 97.52% of the company’s stock.

Cencora Stock Performance

Cencora stock opened at $317.24 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. The company has a market capitalization of $61.51 billion, a P/E ratio of 32.64, a PEG ratio of 1.49 and a beta of 0.63. The stock’s 50 day moving average is $297.46 and its 200 day moving average is $292.16. Cencora, Inc. has a twelve month low of $221.95 and a twelve month high of $319.87.

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

Cencora Announces Dividend

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

Insider Activity at Cencora

In related news, Chairman Steven H. Collis sold 31,350 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total value of $9,087,111.00. Following the sale, the chairman 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 SEC, which is available at this hyperlink. Also, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $290.00, for a total value 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 represents a 11.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,993 shares of company stock worth $16,292,923 in the last 90 days. 10.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on COR shares. Wall Street Zen lowered Cencora from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cencora in a research report on Wednesday, October 8th. Wells Fargo & Company upped their price target on Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Evercore ISI set a $340.00 price target on Cencora in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group upped their price target on Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research report on Monday, June 30th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and a consensus price target of $320.00.

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.