Wealth Enhancement Advisory Services LLC Grows Position in Cencora, Inc. (NYSE:COR)

Wealth Enhancement Advisory Services LLC raised its holdings in Cencora, Inc. (NYSE:COR) by 3.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 277,077 shares of the company’s stock after acquiring an additional 8,636 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.14% of Cencora worth $62,364,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Arkadios Wealth Advisors lifted its stake in shares of Cencora by 3.5% in the third quarter. Arkadios Wealth Advisors now owns 2,221 shares of the company’s stock valued at $500,000 after purchasing an additional 76 shares during the period. NorthCrest Asset Manangement LLC purchased a new position in Cencora in the third quarter valued at about $720,000. Forsta AP Fonden lifted its position in shares of Cencora by 9.0% during the 3rd quarter. Forsta AP Fonden now owns 69,270 shares of the company’s stock valued at $15,591,000 after acquiring an additional 5,700 shares during the period. Parcion Private Wealth LLC boosted its stake in shares of Cencora by 90.9% during the 3rd quarter. Parcion Private Wealth LLC now owns 1,791 shares of the company’s stock worth $403,000 after acquiring an additional 853 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in shares of Cencora by 4.3% in the 3rd quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the company’s stock worth $2,206,000 after acquiring an additional 400 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Stock Performance

Shares of NYSE COR opened at $234.47 on Friday. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. The company has a market cap of $46.77 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 1.40 and a beta of 0.44. The company has a 50-day simple moving average of $232.15 and a 200-day simple moving average of $230.81. Cencora, Inc. has a 12 month low of $182.75 and a 12 month high of $247.66.

Cencora (NYSE:COR) last released its earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The firm had revenue of $74.20 billion during the quarter, compared to analysts’ expectations of $73.32 billion. During the same period in the previous year, the company earned $2.92 EPS. Cencora’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities analysts anticipate that Cencora, Inc. will post 13.63 earnings per share for the current year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Friday, August 9th. Cencora’s payout ratio is 22.32%.

Insider Buying and Selling at Cencora

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the transaction, the insider now directly owns 19,980,000 shares in the company, valued at $4,806,388,800. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total value of $5,071,822.20. Following the transaction, the chairman now owns 285,088 shares in the company, valued at approximately $67,223,750.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the sale, the insider now owns 19,980,000 shares of the company’s stock, valued at $4,806,388,800. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,461,153 shares of company stock worth $1,073,075,720 in the last 90 days. 15.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Leerink Partners reduced their price objective on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Wells Fargo & Company boosted their price objective on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Robert W. Baird dropped their target price on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a report on Friday, September 6th. StockNews.com cut shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. increased their price target on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $259.44.

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.