Kingsview Wealth Management LLC Buys Shares of 1,723 Cencora, Inc. $COR

Kingsview Wealth Management LLC purchased a new stake in Cencora, Inc. (NYSE:COR) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,723 shares of the company’s stock, valued at approximately $488,000.

Other hedge funds have also modified their holdings of the company. Accent Capital Management LLC raised its holdings in Cencora by 36.1% in the 4th quarter. Accent Capital Management LLC now owns 113 shares of the company’s stock valued at $38,000 after buying an additional 30 shares during the period. MCF Advisors LLC boosted its stake in Cencora by 11.0% during the fourth quarter. MCF Advisors LLC now owns 303 shares of the company’s stock worth $102,000 after buying an additional 30 shares during the period. CYBER HORNET ETFs LLC increased its position in shares of Cencora by 6.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 485 shares of the company’s stock valued at $164,000 after acquiring an additional 31 shares during the last quarter. Steph & Co. raised its stake in shares of Cencora by 23.5% in the 1st quarter. Steph & Co. now owns 168 shares of the company’s stock valued at $53,000 after acquiring an additional 32 shares during the period. Finally, Beacon Pointe Advisors LLC raised its stake in shares of Cencora by 1.1% in the 4th quarter. Beacon Pointe Advisors LLC now owns 3,492 shares of the company’s stock valued at $1,180,000 after acquiring an additional 37 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on COR. Weiss Ratings raised shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Morgan Stanley boosted their target price on Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. UBS Group upped their price target on Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Evercore restated an “outperform” rating and set a $350.00 price target on shares of Cencora in a research report on Thursday, August 6th. Finally, Wall Street Zen raised Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $370.85.

Insiders Place Their Bets

In other news, EVP Elizabeth S. Campbell sold 11,300 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $324.12, for a total value of $3,662,556.00. Following the sale, the executive vice president directly owned 19,455 shares in the company, valued at approximately $6,305,754.60. This trade represents a 36.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren M. Tyler bought 550 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average price of $270.23 per share, with a total value of $148,626.50. Following the completion of the acquisition, the director owned 4,359 shares of the company’s stock, valued at $1,177,932.57. This trade represents a 14.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.38% of the stock is currently owned by corporate insiders.

Cencora Stock Up 0.0%

Shares of COR opened at $322.12 on Monday. The company’s 50-day simple moving average is $307.38 and its 200-day simple moving average is $310.51. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. The stock has a market capitalization of $61.47 billion, a PE ratio of 23.93, a P/E/G ratio of 1.85 and a beta of 0.57.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating analysts’ consensus estimates of $4.35 by $0.13. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The firm had revenue of $84.75 billion during the quarter, compared to analysts’ expectations of $84.31 billion. During the same quarter in the previous year, the business posted $4.00 earnings per share. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Analysts forecast that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be paid a $0.60 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. Cencora’s payout ratio is 17.83%.

Cencora announced that its board has authorized a share buyback program on Thursday, May 21st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Cencora Company Profile

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.