Strategic Wealth Partners Ltd. Purchases 624 Shares of Cencora, Inc. (NYSE:COR)

Strategic Wealth Partners Ltd. grew its position in shares of Cencora, Inc. (NYSE:COR) by 2.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,657 shares of the company’s stock after acquiring an additional 624 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Cencora were worth $5,325,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of COR. Kingswood Wealth Advisors LLC bought a new stake in Cencora in the second quarter valued at $655,000. TD Asset Management Inc purchased a new position in shares of Cencora during the first quarter valued at about $95,313,000. LSV Asset Management purchased a new stake in Cencora in the first quarter worth about $3,579,000. Cairn Investment Group Inc. bought a new stake in Cencora during the 1st quarter valued at approximately $2,294,000. Finally, Lake Street Advisors Group LLC purchased a new position in shares of Cencora during the 1st quarter worth approximately $836,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Stock Up 0.6 %

NYSE:COR opened at $220.80 on Wednesday. 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 firm has a market cap of $44.04 billion, a P/E ratio of 24.16, a P/E/G ratio of 1.58 and a beta of 0.44. Cencora, Inc. has a fifty-two week low of $182.62 and a fifty-two week high of $247.66. The firm has a 50-day simple moving average of $234.25 and a two-hundred day simple moving average of $231.76.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.16. The company had revenue of $74.20 billion during the quarter, compared to the consensus estimate of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.92 earnings per share. Analysts predict that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Friday, August 9th. Cencora’s payout ratio is currently 22.32%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Robert W. Baird lowered their target price on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. Leerink Partners dropped their target price on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday. Evercore ISI decreased their price target on shares of Cencora from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Tuesday. Wells Fargo & Company lifted their price target on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $259.44.

Insider Activity at Cencora

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the completion of the sale, the insider now directly owns 19,980,000 shares in the company, valued at $4,806,388,800. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was 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 directly owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the sale, the insider now directly owns 19,980,000 shares of the company’s stock, valued at $4,806,388,800. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,450,399 shares of company stock valued at $1,070,392,799 over the last ninety days. Insiders own 15.80% of the company’s stock.

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.