Axxcess Wealth Management LLC Has $2.14 Million Position in Cencora, Inc. (NYSE:COR)

Axxcess Wealth Management LLC raised its position in shares of Cencora, Inc. (NYSE:COR) by 5.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,488 shares of the company’s stock after acquiring an additional 517 shares during the period. Axxcess Wealth Management LLC’s holdings in Cencora were worth $2,138,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Denali Advisors LLC boosted its stake in Cencora by 6.3% during the 2nd quarter. Denali Advisors LLC now owns 1,700 shares of the company’s stock valued at $383,000 after purchasing an additional 100 shares during the period. Tower Wealth Partners Inc. acquired a new position in shares of Cencora during the second quarter worth approximately $209,000. Virtu Financial LLC bought a new stake in shares of Cencora in the second quarter valued at approximately $1,086,000. Quantbot Technologies LP grew its stake in shares of Cencora by 39.2% in the second quarter. Quantbot Technologies LP now owns 81,560 shares of the company’s stock worth $18,375,000 after acquiring an additional 22,987 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Cencora by 10.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,262,882 shares of the company’s stock worth $284,544,000 after acquiring an additional 119,927 shares during the period. 97.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on COR shares. Robert W. Baird decreased their price target 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. JPMorgan Chase & Co. lifted their target price on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Wells Fargo & Company raised their price objective on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Leerink Partners reaffirmed an “outperform” rating and issued a $275.00 target price on shares of Cencora in a research report on Thursday, June 27th. Finally, Bank of America reissued a “neutral” rating and issued a $245.00 price target (down previously from $275.00) on shares of Cencora in a report on Wednesday. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Cencora has an average rating of “Moderate Buy” and a consensus price target of $256.67.

Insider Buying and Selling at Cencora

In other news, CEO Steven H. Collis sold 10,755 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the sale, the chief executive officer now owns 285,088 shares in the company, valued at $63,323,746.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the sale, the chief executive officer now owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’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 completion of the sale, the insider now 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. In the last quarter, insiders sold 4,450,399 shares of company stock worth $1,070,392,799. 15.80% of the stock is currently owned by insiders.

Cencora Stock Down 2.6 %

Shares of NYSE:COR opened at $228.48 on Thursday. The company has a market capitalization of $45.57 billion, a PE ratio of 25.00, a P/E/G ratio of 1.55 and a beta of 0.44. 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’s fifty day moving average is $234.64 and its 200-day moving average is $233.23. Cencora, Inc. has a 52 week low of $178.21 and a 52 week high of $247.66.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.16. The firm 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 company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.92 earnings per share. Equities research 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. Investors of record on Friday, August 9th were issued a dividend of $0.51 per share. The ex-dividend date was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.89%. Cencora’s dividend payout ratio is 22.32%.

Cencora 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.