Cornerstone Advisory LLC Purchases 2,049 Shares of Cencora, Inc. (NYSE:COR)

Cornerstone Advisory LLC raised its stake in shares of Cencora, Inc. (NYSE:COR) by 9.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 22,897 shares of the company’s stock after purchasing an additional 2,049 shares during the quarter. Cornerstone Advisory LLC’s holdings in Cencora were worth $6,659,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in Cencora by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company’s stock valued at $1,990,542,000 after buying an additional 78,066 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Cencora by 62.3% during the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company’s stock worth $1,166,944,000 after purchasing an additional 1,994,256 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Cencora by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company’s stock valued at $969,471,000 after buying an additional 130,213 shares during the period. Invesco Ltd. raised its holdings in Cencora by 20.4% in the fourth quarter. Invesco Ltd. now owns 3,243,531 shares of the company’s stock worth $728,757,000 after purchasing an additional 550,246 shares during the period. Finally, Northern Trust Corp raised its holdings in Cencora by 11.6% in the fourth quarter. Northern Trust Corp now owns 2,421,237 shares of the company’s stock worth $544,004,000 after purchasing an additional 252,028 shares during the period. Institutional investors own 97.52% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of Cencora from $330.00 to $355.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Wells Fargo & Company raised shares of Cencora from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Bank of America raised their target price on shares of Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, April 11th. Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Finally, UBS Group raised their target price on shares of Cencora from $298.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Cencora has a consensus rating of “Moderate Buy” and a consensus price target of $309.83.

Cencora Trading Down 0.1%

Shares of Cencora stock opened at $290.17 on Friday. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $309.35. The company has a market cap of $56.24 billion, a price-to-earnings ratio of 33.66, a PEG ratio of 1.44 and a beta of 0.57. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01. The company’s 50-day moving average price is $293.31 and its 200-day moving average price is $274.53.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The firm had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. During the same period in the prior year, the firm posted $3.80 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Friday, May 16th. Cencora’s payout ratio is 25.52%.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 14,578 shares of the firm’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total value of $4,266,543.26. Following the sale, the chairman directly owned 309,913 shares of the company’s stock, valued at $90,702,237.71. This trade represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert P. Mauch sold 4,968 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the completion of the sale, the chief executive officer directly owned 42,351 shares in the company, valued at $12,455,852.61. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,125 shares of company stock worth $9,993,789 over the last ninety days. 10.80% of the stock is currently owned by insiders.

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.