AE Wealth Management LLC Raises Stake in Cencora, Inc. (NYSE:COR)

AE Wealth Management LLC lifted its position in shares of Cencora, Inc. (NYSE:COR) by 2.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 18,826 shares of the company’s stock after buying an additional 468 shares during the period. AE Wealth Management LLC’s holdings in Cencora were worth $4,242,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Rise Advisors LLC purchased a new position in shares of Cencora during the 1st quarter worth $25,000. New Millennium Group LLC purchased a new position in Cencora during the second quarter worth about $26,000. Legacy Bridge LLC purchased a new position in Cencora during the first quarter worth about $27,000. TCTC Holdings LLC acquired a new stake in Cencora in the 1st quarter worth about $29,000. Finally, TFO Wealth Partners LLC acquired a new stake in shares of Cencora in the first quarter worth approximately $30,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on COR shares. JPMorgan Chase & Co. upped their price target on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Robert W. Baird cut their target price on Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research report on Friday, September 6th. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday. Leerink Partners restated an “outperform” rating and set a $275.00 price target on shares of Cencora in a research note on Thursday, June 27th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $245.00 price objective (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $256.67.

Cencora Stock Performance

Cencora stock opened at $228.11 on Monday. The firm has a market capitalization of $45.50 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 1.55 and a beta of 0.44. Cencora, Inc. has a one year low of $178.21 and a one year high of $247.66. The stock’s 50 day moving average price is $234.84 and its 200 day moving average price is $233.10. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89.

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

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were given 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 payout ratio is 22.32%.

Insider Buying and Selling at Cencora

In other 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 transaction of $357,482.37. Following the completion of the transaction, the executive vice president now directly owns 10,948 shares in the company, valued at approximately $2,656,970.12. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 in the company, valued at approximately $2,656,970.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the sale, the insider now directly owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. 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 90 days. 15.80% of the stock is owned by corporate insiders.

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.