Stratos Wealth Partners LTD. Acquires 247 Shares of Cencora, Inc. $COR

Stratos Wealth Partners LTD. raised its holdings in Cencora, Inc. (NYSE:COR) by 31.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,028 shares of the company’s stock after buying an additional 247 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Cencora were worth $308,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Private Trust Co. NA boosted its holdings in Cencora by 3.3% in the second quarter. Private Trust Co. NA now owns 1,996 shares of the company’s stock valued at $599,000 after acquiring an additional 63 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Cencora by 2.9% during the second quarter. Nordea Investment Management AB now owns 1,157,951 shares of the company’s stock valued at $346,471,000 after buying an additional 32,749 shares during the period. Latitude Advisors LLC purchased a new position in shares of Cencora during the second quarter valued at about $739,000. Turtle Creek Wealth Advisors LLC bought a new position in Cencora in the second quarter worth about $233,000. Finally, Generali Asset Management SPA SGR lifted its holdings in Cencora by 38.0% in the second quarter. Generali Asset Management SPA SGR now owns 27,978 shares of the company’s stock worth $8,389,000 after buying an additional 7,708 shares during the period. 97.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on COR. Mizuho upped their target price on Cencora from $316.00 to $334.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Wells Fargo & Company upped their price target on Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. Morgan Stanley set a $330.00 price objective on Cencora and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Evercore ISI set a $340.00 target price on shares of Cencora in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Cencora from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $324.91.

Cencora Trading Up 1.4%

NYSE COR opened at $333.02 on Friday. Cencora, Inc. has a 12 month low of $223.92 and a 12 month high of $334.34. The stock has a market cap of $64.56 billion, a P/E ratio of 34.26, a P/E/G ratio of 1.54 and a beta of 0.63. The stock’s fifty day moving average price is $304.09 and its 200-day moving average price is $294.87. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $0.21. The firm had revenue of $80.66 billion during the quarter, compared to analyst estimates of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.Cencora’s quarterly 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 EPS. As a group, equities analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

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

Insider Buying and Selling

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 transaction, the chairman directly owned 305,913 shares of the company’s stock, valued at approximately $88,671,942.18. This represents a 9.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction on Monday, October 20th. The shares were sold at an average price of $326.80, for a total value of $1,665,699.60. Following the sale, the chief executive officer owned 37,940 shares in the company, valued at approximately $12,398,792. This represents a 11.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,544 shares of company stock worth $12,230,941. Corporate insiders own 10.80% of the company’s stock.

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.