Jessup Wealth Management Inc Buys Shares of 1,375 Cencora, Inc. (NYSE:COR)

Jessup Wealth Management Inc purchased a new position in shares of Cencora, Inc. (NYSE:COR) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,375 shares of the company’s stock, valued at approximately $334,000.

Other hedge funds have also made changes to their positions in the company. NBC Securities Inc. acquired a new position in Cencora during the 1st quarter worth $976,000. Park Avenue Securities LLC bought a new position in shares of Cencora during the first quarter worth about $2,114,000. Cullen Investment Group LTD. acquired a new position in Cencora in the first quarter worth about $924,000. Alaska Permanent Fund Corp bought a new stake in Cencora in the first quarter valued at about $1,819,000. Finally, Vanguard Group Inc. acquired a new stake in Cencora during the fourth quarter valued at approximately $4,212,508,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Transactions at Cencora

In related news, EVP Gina Clark sold 1,874 shares of Cencora stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $223.86, for a total transaction of $419,513.64. Following the sale, the executive vice president now directly owns 13,284 shares in the company, valued at $2,973,756.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Gina Clark sold 1,874 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $223.86, for a total transaction of $419,513.64. Following the transaction, the executive vice president now owns 13,284 shares in the company, valued at $2,973,756.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dermot Mark Durcan purchased 500 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were purchased at an average cost of $218.58 per share, with a total value of $109,290.00. Following the completion of the purchase, the director now owns 21,876 shares in the company, valued at approximately $4,781,656.08. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 1,956,675 shares of company stock valued at $422,352,056. 15.80% of the stock is currently owned by corporate insiders.

Cencora Stock Performance

Shares of COR stock traded down $2.72 during trading hours on Friday, reaching $225.24. The stock had a trading volume of 566,433 shares, compared to its average volume of 1,388,762. The firm has a market capitalization of $44.92 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 1.65 and a beta of 0.48. The firm has a 50-day simple moving average of $229.40 and a 200-day simple moving average of $227.67. Cencora, Inc. has a twelve month low of $171.65 and a twelve month high of $246.75. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.89 and a quick ratio of 0.53.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $3.80 EPS for the quarter, beating the consensus estimate of $3.65 by $0.15. The company had revenue of $68.41 billion for the quarter, compared to analyst estimates of $70.60 billion. Cencora had a net margin of 0.67% and a return on equity of 268.67%. Cencora’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.50 earnings per share. As a group, equities analysts forecast that Cencora, Inc. will post 13.44 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.91%. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

Analyst Ratings Changes

COR has been the subject of several research reports. StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Citigroup lifted their price objective on shares of Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. SVB Leerink reissued an “outperform” rating and set a $275.00 target price on shares of Cencora in a report on Thursday. Finally, Robert W. Baird lifted their price target on shares of Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Cencora currently has an average rating of “Moderate Buy” and a consensus price target of $235.30.

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.