Cencora, Inc. $COR Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its position in shares of Cencora, Inc. (NYSE:COR) by 4.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 12,752 shares of the company’s stock after purchasing an additional 540 shares during the period. Ritholtz Wealth Management’s holdings in Cencora were worth $3,824,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in COR. Voleon Capital Management LP acquired a new stake in Cencora in the 1st quarter valued at $3,111,000. Exchange Traded Concepts LLC increased its holdings in Cencora by 4.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company’s stock valued at $307,000 after purchasing an additional 48 shares in the last quarter. Focus Partners Wealth increased its holdings in Cencora by 25.8% in the 1st quarter. Focus Partners Wealth now owns 5,715 shares of the company’s stock valued at $1,589,000 after purchasing an additional 1,171 shares in the last quarter. Martin Capital Partners LLC increased its holdings in Cencora by 205.2% in the 2nd quarter. Martin Capital Partners LLC now owns 3,784 shares of the company’s stock valued at $1,135,000 after purchasing an additional 2,544 shares in the last quarter. Finally, Fiduciary Alliance LLC acquired a new stake in Cencora in the 2nd quarter valued at $262,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Performance

Shares of COR stock opened at $320.02 on Thursday. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. Cencora, Inc. has a one year low of $223.92 and a one year high of $320.37. The company’s 50-day simple moving average is $298.69 and its 200-day simple moving average is $292.53. The stock has a market capitalization of $62.05 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 1.49 and a beta of 0.63.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping the consensus estimate of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The business had revenue of $80.66 billion for the quarter, compared to analysts’ expectations of $80.34 billion. During the same quarter last year, the company posted $3.34 earnings per share. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were given a dividend of $0.55 per share. The ex-dividend date of this dividend 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 presently 22.63%.

Insider Activity

In other news, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the transaction, the chairman owned 305,913 shares of the company’s stock, valued at approximately $88,671,942.18. This trade represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert P. Mauch sold 5,097 shares of the firm’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold 55,993 shares of company stock worth $16,292,923 in the last ninety days. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wall Street Zen downgraded Cencora from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cencora in a report on Wednesday, October 8th. Evercore ISI set a $340.00 price objective on shares of Cencora in a research report on Wednesday, October 8th. Wells Fargo & Company upped their price objective 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. Finally, Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $320.00.

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.