Sequoia Financial Advisors LLC Increases Stock Holdings in Cencora, Inc. $COR

Sequoia Financial Advisors LLC lifted its position in Cencora, Inc. (NYSE:COR) by 3.1% in the second quarter, HoldingsChannel reports. The firm owned 9,683 shares of the company’s stock after buying an additional 291 shares during the period. Sequoia Financial Advisors LLC’s holdings in Cencora were worth $2,903,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Cornerstone Planning Group LLC grew its holdings in shares of Cencora by 106.7% in the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock valued at $26,000 after purchasing an additional 48 shares during the period. Costello Asset Management INC purchased a new stake in shares of Cencora in the first quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Cencora in the first quarter valued at about $39,000. Golden State Wealth Management LLC grew its holdings in shares of Cencora by 157.6% in the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock valued at $47,000 after purchasing an additional 104 shares during the period. Finally, Olde Wealth Management LLC purchased a new stake in shares of Cencora in the first quarter valued at about $48,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Stock Up 0.7%

Shares of COR opened at $320.02 on Thursday. The stock has a market capitalization of $62.05 billion, a PE ratio of 32.92, a P/E/G ratio of 1.49 and a beta of 0.63. Cencora, Inc. has a 1 year low of $223.92 and a 1 year high of $320.37. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. The company’s 50-day simple moving average is $298.69 and its 200-day simple moving average is $292.53.

Cencora (NYSE:COR) last issued its quarterly 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. The business had revenue of $80.66 billion for the quarter, compared to analysts’ expectations of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.34 earnings per share. Analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm 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. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Cencora’s dividend payout ratio is currently 22.63%.

Insider Activity

In related news, Chairman Steven H. Collis sold 31,350 shares of the company’s stock in a transaction that occurred on 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 sale, the chairman directly owned 305,913 shares in the company, valued at approximately $88,671,942.18. This represents a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert P. Mauch sold 5,097 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 39,274 shares in the company, valued at $11,389,460. The trade was a 11.49% decrease in their ownership of the stock. 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 three months. Corporate insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

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