Brighton Jones LLC Takes $264,000 Position in Cencora, Inc. $COR

Brighton Jones LLC purchased a new stake in shares of Cencora, Inc. (NYSE:COR) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 879 shares of the company’s stock, valued at approximately $264,000.

A number of other hedge funds also recently made changes to their positions in COR. DAVENPORT & Co LLC raised its holdings in shares of Cencora by 12.8% during the first quarter. DAVENPORT & Co LLC now owns 6,214 shares of the company’s stock valued at $1,728,000 after buying an additional 705 shares during the last quarter. Keybank National Association OH lifted its position in Cencora by 1.7% in the first quarter. Keybank National Association OH now owns 8,034 shares of the company’s stock worth $2,234,000 after purchasing an additional 133 shares during the period. WCM Investment Management LLC lifted its position in Cencora by 24.9% in the first quarter. WCM Investment Management LLC now owns 2,642 shares of the company’s stock worth $727,000 after purchasing an additional 526 shares during the period. Pinnacle Financial Partners Inc acquired a new stake in Cencora in the first quarter worth approximately $253,000. Finally, Private Trust Co. NA lifted its position in Cencora by 2.5% in the first quarter. Private Trust Co. NA now owns 1,933 shares of the company’s stock worth $538,000 after purchasing an additional 47 shares during the period. Institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In other Cencora news, CEO Robert P. Mauch sold 5,097 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $326.80, for a total transaction of $1,665,699.60. Following the sale, the chief executive officer directly owned 37,940 shares of the company’s stock, valued at $12,398,792. The trade was a 11.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 31,350 shares of the business’s stock in a transaction 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 approximately $88,671,942.18. This trade represents a 9.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 41,544 shares of company stock worth $12,230,941. Company insiders own 10.80% of the company’s stock.

Cencora Stock Down 1.1%

Shares of NYSE:COR opened at $337.60 on Friday. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. The company has a market cap of $65.45 billion, a PE ratio of 34.73, a price-to-earnings-growth ratio of 1.56 and a beta of 0.63. Cencora, Inc. has a 52 week low of $223.92 and a 52 week high of $350.46. The firm has a 50 day simple moving average of $308.09 and a 200 day simple moving average of $297.02.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The company had revenue of $80.66 billion for the quarter, compared to the consensus estimate of $80.34 billion. During the same period in the previous year, the business earned $3.34 EPS. The company’s revenue was up 8.7% on a year-over-year basis. As a group, research analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on COR. Wall Street Zen downgraded Cencora from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Weiss Ratings restated a “buy (b-)” rating on shares of Cencora in a research report on Thursday. Mizuho upped their target price on Cencora from $334.00 to $340.00 and gave the stock an “outperform” rating in a research report on Thursday. UBS Group upped their target price on Cencora from $350.00 to $380.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Evercore ISI set a $340.00 target price on Cencora in a research report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $329.55.

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.