Cencora, Inc. $COR Shares Sold by Retirement Guys Formula LLC

Retirement Guys Formula LLC reduced its stake in shares of Cencora, Inc. (NYSE:COR) by 4.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 6,361 shares of the company’s stock after selling 302 shares during the quarter. Retirement Guys Formula LLC’s holdings in Cencora were worth $1,907,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COR. Toronto Dominion Bank grew its position in Cencora by 3.5% during the fourth quarter. Toronto Dominion Bank now owns 70,905 shares of the company’s stock worth $15,929,000 after buying an additional 2,408 shares during the period. Ameriflex Group Inc. acquired a new position in Cencora during the fourth quarter worth about $49,000. Jefferies Financial Group Inc. grew its position in Cencora by 61.6% during the fourth quarter. Jefferies Financial Group Inc. now owns 9,375 shares of the company’s stock worth $2,106,000 after buying an additional 3,574 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Cencora during the fourth quarter worth about $38,652,000. Finally, Wood Tarver Financial Group LLC acquired a new position in Cencora during the fourth quarter worth about $136,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Robert P. Mauch sold 5,097 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer owned 39,274 shares in the company, valued at approximately $11,389,460. This trade represents a 11.49% 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 this hyperlink. Also, Chairman Steven H. Collis sold 31,350 shares of the firm’s stock in a transaction that occurred 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 sale, the chairman 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. In the last 90 days, insiders have sold 55,993 shares of company stock worth $16,292,923. 10.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on COR. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Jefferies Financial Group increased their price target on shares of Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research report on Monday, June 30th. Finally, Wells Fargo & Company increased their price target on shares of Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cencora presently has a consensus rating of “Moderate Buy” and an average price target of $311.25.

Cencora Stock Up 2.0%

COR stock opened at $308.33 on Thursday. The company’s 50 day simple moving average is $292.62 and its 200-day simple moving average is $287.78. The firm has a market capitalization of $59.78 billion, a PE ratio of 31.72, a P/E/G ratio of 1.54 and a beta of 0.62. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.64. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. During the same quarter last year, the business earned $3.34 earnings per share. Cencora’s revenue was up 8.7% compared to the same quarter last year. 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 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 dividend on an annualized basis and a yield of 0.7%. Cencora’s dividend payout ratio (DPR) is 22.63%.

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.