Cencora, Inc. $COR Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC trimmed its stake in shares of Cencora, Inc. (NYSE:COR) by 15.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,395 shares of the company’s stock after selling 1,926 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Cencora were worth $2,942,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Kemnay Advisory Services Inc. purchased a new stake in shares of Cencora during the fourth quarter worth about $25,000. Elyxium Wealth LLC purchased a new position in Cencora in the 4th quarter valued at about $27,000. Elevation Wealth Partners LLC boosted its holdings in Cencora by 506.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock worth $27,000 after buying an additional 81 shares during the last quarter. Bell Investment Advisors Inc acquired a new stake in Cencora in the 2nd quarter worth about $28,000. Finally, Caitlin John LLC purchased a new stake in Cencora during the 2nd quarter worth approximately $28,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Stock Down 0.0%

COR stock opened at $321.44 on Monday. The company has a market cap of $61.34 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 1.82 and a beta of 0.57. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54. The firm has a 50-day moving average of $315.82 and a two-hundred day moving average of $308.22.

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

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were given a dividend of $0.60 per share. The ex-dividend date was Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. Cencora’s dividend payout ratio (DPR) is presently 17.83%.

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

Analyst Ratings Changes

COR has been the subject of a number of research analyst reports. Royal Bank Of Canada reissued a “sector perform” rating and set a $330.00 target price on shares of Cencora in a report on Tuesday, September 8th. Robert W. Baird set a $370.00 price target on Cencora in a research note on Thursday, August 6th. Wells Fargo & Company boosted their price target on Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. UBS Group increased their price objective on Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $370.85.

Insiders Place Their Bets

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

About Cencora

Cencora, Inc (NYSE:COR) is a global healthcare company that provides pharmaceutical sourcing, distribution and related services. The company connects biopharmaceutical manufacturers with pharmacies, hospitals, health systems, physician practices and other healthcare providers, helping move prescription medicines and healthcare products through the supply chain.

Cencora’s operations include pharmaceutical distribution, specialty pharmaceutical services, manufacturer support and patient-centered solutions.