Cencora, Inc. (NYSE:COR) Shares Acquired by Ieq Capital LLC

Ieq Capital LLC boosted its position in Cencora, Inc. (NYSE:COR) by 8.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,613 shares of the company’s stock after purchasing an additional 768 shares during the period. Ieq Capital LLC’s holdings in Cencora were worth $2,166,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Advocates Investment Management boosted its stake in Cencora by 4.7% during the second quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock valued at $220,000 after buying an additional 44 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of Cencora by 2.2% in the 2nd quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock worth $499,000 after purchasing an additional 48 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in Cencora by 3.4% during the second quarter. Valeo Financial Advisors LLC now owns 1,566 shares of the company’s stock valued at $353,000 after purchasing an additional 51 shares during the last quarter. Barlow Wealth Partners Inc. lifted its stake in Cencora by 5.4% during the second quarter. Barlow Wealth Partners Inc. now owns 1,339 shares of the company’s stock valued at $303,000 after purchasing an additional 68 shares during the last quarter. Finally, Tevis Investment Management boosted its holdings in Cencora by 4.9% during the second quarter. Tevis Investment Management now owns 1,476 shares of the company’s stock worth $333,000 after buying an additional 69 shares in the last quarter. 97.52% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the transaction, the executive vice president now owns 10,948 shares in the company, valued at $2,656,970.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the transaction, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total value of $2,388,900.60. Following the transaction, the chief executive officer now owns 285,088 shares in the company, valued at $63,323,746.56. The disclosure for this sale can be found here. Insiders sold a total of 4,450,399 shares of company stock worth $1,070,392,799 in the last three months. 15.80% of the stock is owned by insiders.

Cencora Stock Performance

Shares of COR opened at $228.11 on Friday. Cencora, Inc. has a 52 week low of $178.21 and a 52 week high of $247.66. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. The company has a market capitalization of $45.50 billion, a PE ratio of 24.96, a PEG ratio of 1.55 and a beta of 0.44. The company’s 50 day moving average price is $234.84 and its 200 day moving average price is $233.11.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. During the same period in the prior year, the business posted $2.92 earnings per share. Cencora’s revenue for the quarter was up 10.8% compared to the same quarter last year. Research analysts expect that Cencora, Inc. will post 13.63 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Friday, August 9th. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on COR. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday. Bank of America reaffirmed a “neutral” rating and set a $245.00 target price (down from $275.00) on shares of Cencora in a report on Wednesday. Leerink Partners reissued an “outperform” rating and issued a $275.00 price target on shares of Cencora in a research note on Thursday, June 27th. JPMorgan Chase & Co. upped their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Robert W. Baird dropped their target price on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research report on Friday, September 6th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and an average target price of $256.67.

Cencora Company 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.