HF Advisory Group LLC Reduces Position in Cencora, Inc. $COR

HF Advisory Group LLC cut its holdings in shares of Cencora, Inc. (NYSE:COR) by 26.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,409 shares of the company’s stock after selling 1,207 shares during the quarter. HF Advisory Group LLC’s holdings in Cencora were worth $1,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Net Worth Advisory Group boosted its position in shares of Cencora by 1.4% during the first quarter. Net Worth Advisory Group now owns 2,645 shares of the company’s stock valued at $736,000 after buying an additional 36 shares during the last quarter. Obermeyer Wealth Partners lifted its holdings in Cencora by 1.3% in the first quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company’s stock valued at $758,000 after acquiring an additional 36 shares during the period. Cromwell Holdings LLC lifted its holdings in Cencora by 9.5% in the first quarter. Cromwell Holdings LLC now owns 450 shares of the company’s stock valued at $125,000 after acquiring an additional 39 shares during the period. Contravisory Investment Management Inc. lifted its holdings in Cencora by 0.7% in the second quarter. Contravisory Investment Management Inc. now owns 5,382 shares of the company’s stock valued at $1,614,000 after acquiring an additional 40 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its holdings in Cencora by 2.7% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,565 shares of the company’s stock valued at $435,000 after acquiring an additional 41 shares during the period. 97.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COR has been the topic of a number of recent research reports. Jefferies Financial Group increased their target price on Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a report on Monday, June 30th. Morgan Stanley set a $330.00 target price on Cencora and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Finally, 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 report on Wednesday, August 13th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $311.25.

Cencora Stock Performance

Shares of COR opened at $290.82 on Friday. 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, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The business has a 50-day simple moving average of $292.52 and a two-hundred day simple moving average of $286.56. The stock has a market cap of $56.38 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 1.37 and a beta of 0.62.

Cencora (NYSE:COR) last released its 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. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The firm had revenue of $80.66 billion during the quarter, compared to analysts’ expectations of $80.34 billion. During the same quarter last year, the business posted $3.34 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. On average, analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were given a dividend of $0.55 per share. The ex-dividend date was Friday, August 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.8%. Cencora’s dividend payout ratio (DPR) is currently 22.63%.

Insider Activity

In related news, CEO Robert P. Mauch sold 4,968 shares of the stock in a transaction dated Friday, July 18th. The stock was 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 owned 42,351 shares in the company, valued at approximately $12,455,852.61. This trade represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction dated 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 sale, the chairman owned 305,913 shares of the company’s stock, valued at $88,671,942.18. This represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,475 shares of company stock valued at $19,080,900 in the last quarter. 10.80% of the stock is currently owned by company 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.