Belpointe Asset Management LLC Sells 2,169 Shares of Cencora, Inc. $COR

Belpointe Asset Management LLC lowered its stake in Cencora, Inc. (NYSE:COR) by 23.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,083 shares of the company’s stock after selling 2,169 shares during the quarter. Belpointe Asset Management LLC’s holdings in Cencora were worth $2,124,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Valeo Financial Advisors LLC grew its position in shares of Cencora by 6.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,270 shares of the company’s stock valued at $681,000 after purchasing an additional 130 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its stake in Cencora by 6.2% during the second quarter. Knights of Columbus Asset Advisors LLC now owns 44,209 shares of the company’s stock valued at $13,256,000 after buying an additional 2,586 shares during the period. Marks Group Wealth Management Inc bought a new stake in Cencora during the second quarter valued at $201,000. Grimes & Company Inc. grew its position in Cencora by 3.6% during the second quarter. Grimes & Company Inc. now owns 1,272 shares of the company’s stock worth $381,000 after buying an additional 44 shares in the last quarter. Finally, Merit Financial Group LLC increased its stake in Cencora by 34.8% in the 2nd quarter. Merit Financial Group LLC now owns 13,141 shares of the company’s stock worth $3,940,000 after acquiring an additional 3,392 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In related news, CEO Robert P. Mauch sold 5,097 shares of the company’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the completion of the sale, the chief executive officer directly owned 39,274 shares in the company, valued at $11,389,460. This represents a 11.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Steven H. Collis sold 31,350 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,993 shares of company stock worth $16,292,923. 10.80% of the stock is owned by insiders.

Cencora Stock Performance

NYSE COR opened at $305.32 on Tuesday. The company has a 50-day simple moving average of $295.07 and a two-hundred day simple moving average of $290.68. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $315.23. The firm has a market cap of $59.20 billion, a price-to-earnings ratio of 31.41, a PEG ratio of 1.41 and a beta of 0.63. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64.

Cencora (NYSE:COR) last released its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, beating analysts’ consensus estimates of $3.79 by $0.21. The company 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 revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.34 EPS. On average, equities analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were issued 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 (DPR) is currently 22.63%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Cencora in a report on Saturday, September 27th. Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Finally, Jefferies Financial Group upped their target price on shares of Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research report on Monday, June 30th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and an average target price of $314.55.

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.