Global Trust Asset Management LLC Trims Position in Cencora, Inc. (NYSE:COR)

Global Trust Asset Management LLC decreased its position in shares of Cencora, Inc. (NYSE:COR) by 1.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 6,521 shares of the company’s stock after selling 110 shares during the period. Global Trust Asset Management LLC’s holdings in Cencora were worth $1,468,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. New Millennium Group LLC purchased a new position in shares of Cencora during the second quarter valued at approximately $26,000. TCTC Holdings LLC purchased a new position in shares of Cencora during the first quarter valued at approximately $29,000. TFO Wealth Partners LLC purchased a new position in shares of Cencora during the first quarter valued at approximately $30,000. MFA Wealth Advisors LLC purchased a new position in shares of Cencora during the second quarter valued at approximately $30,000. Finally, LRI Investments LLC purchased a new position in shares of Cencora during the first quarter valued at approximately $31,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on COR. Wells Fargo & Company increased their price target on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Evercore ISI cut their price target on shares of Cencora from $270.00 to $250.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. Robert W. Baird cut their price target on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. Bank of America reaffirmed a “neutral” rating and set a $245.00 price target (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. increased their price target on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cencora has an average rating of “Moderate Buy” and an average target price of $259.44.

Insider Buying and Selling at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction on 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 transaction, the insider now directly owns 19,980,000 shares in the company, valued at $4,806,388,800. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 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 transaction, the insider now owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,461,153 shares of company stock worth $1,073,075,720 in the last ninety days. 15.80% of the stock is owned by insiders.

Cencora Price Performance

COR opened at $235.17 on Friday. The company has a fifty day simple moving average of $232.22 and a 200 day simple moving average of $230.91. The firm has a market cap of $46.91 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 1.40 and a beta of 0.44. Cencora, Inc. has a twelve month low of $182.75 and a twelve month high of $247.66. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93.

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

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.87%. Cencora’s dividend payout ratio (DPR) is 22.32%.

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.