LVW Advisors LLC Acquires New Shares in Cencora, Inc. (NYSE:COR)

LVW Advisors LLC acquired a new stake in shares of Cencora, Inc. (NYSE:COR) during the first quarter, according to its most recent filing with the SEC. The fund acquired 2,564 shares of the company’s stock, valued at approximately $623,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COR. Rise Advisors LLC bought a new position in Cencora in the 1st quarter worth about $25,000. CVA Family Office LLC bought a new position in Cencora in the 1st quarter worth about $34,000. Bruce G. Allen Investments LLC bought a new position in Cencora in the 1st quarter worth about $43,000. Trust Co. of Vermont bought a new position in Cencora in the 4th quarter worth about $62,000. Finally, Iron Horse Wealth Management LLC bought a new position in Cencora in the 1st quarter worth about $64,000. 97.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on COR. StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Citigroup increased their price objective on Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. SVB Leerink reiterated an “outperform” rating and set a $275.00 price objective on shares of Cencora in a research report on Thursday, June 27th. Finally, Robert W. Baird increased their price objective on Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $235.30.

Cencora Trading Down 0.8 %

Shares of COR stock opened at $223.58 on Tuesday. The stock has a market capitalization of $44.59 billion, a PE ratio of 24.46, a P/E/G ratio of 1.57 and a beta of 0.45. Cencora, Inc. has a 1-year low of $171.65 and a 1-year high of $246.75. The business has a 50-day moving average of $228.85 and a 200 day moving average of $228.32. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.89 and a quick ratio of 0.53.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, beating the consensus estimate of $3.65 by $0.15. The company had revenue of $68.41 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Cencora had a return on equity of 268.67% and a net margin of 0.67%. Cencora’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $3.50 EPS. As a group, sell-side analysts anticipate that Cencora, Inc. will post 13.44 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend was Thursday, May 9th. Cencora’s dividend payout ratio (DPR) is currently 22.32%.

Insiders Place Their Bets

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total value of $399,991,976.80. Following the completion of the sale, the insider now owns 24,418,171 shares in the company, valued at approximately $5,252,836,945.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Cencora news, CEO Steven H. Collis sold 10,754 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $237.48, for a total value of $2,553,859.92. Following the completion of the sale, the chief executive officer now owns 285,088 shares in the company, valued at approximately $67,702,698.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total value of $399,991,976.80. Following the completion of the transaction, the insider now owns 24,418,171 shares of the company’s stock, valued at approximately $5,252,836,945.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,956,675 shares of company stock worth $422,352,056. 15.80% of the stock is currently owned by company insiders.

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.