Sigma Investment Counselors Inc. Raises Stock Holdings in Cencora, Inc. (NYSE:COR)

Sigma Investment Counselors Inc. grew its holdings in Cencora, Inc. (NYSE:COR) by 2.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,230 shares of the company’s stock after buying an additional 449 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Cencora were worth $3,657,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Rise Advisors LLC acquired a new stake in Cencora in the 1st quarter worth about $25,000. Legacy Bridge LLC purchased a new stake in shares of Cencora during the first quarter worth approximately $27,000. TCTC Holdings LLC acquired a new position in Cencora in the 1st quarter valued at $29,000. TFO Wealth Partners LLC acquired a new position in Cencora in the 1st quarter valued at $30,000. Finally, LRI Investments LLC acquired a new stake in Cencora during the 1st quarter worth $31,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COR has been the subject of a number of recent research reports. Wells Fargo & Company increased their target price 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. StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. SVB Leerink restated an “outperform” rating and issued a $275.00 price target on shares of Cencora in a research report on Thursday, June 27th. Citigroup lifted their price objective on Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, Robert W. Baird boosted their price target on shares of Cencora from $285.00 to $287.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $258.63.

Insider Buying and Selling

In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value of $357,482.37. Following the completion of the transaction, the executive vice president now owns 10,948 shares in the company, valued at $2,656,970.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Gina Clark sold 27,093 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $216.07, for a total transaction of $5,853,984.51. Following the completion of the sale, the executive vice president now owns 15,158 shares in the company, valued at approximately $3,275,189.06. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 1,473 shares of Cencora 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 completion of the transaction, the executive vice president now owns 10,948 shares in the company, valued at $2,656,970.12. The disclosure for this sale can be found here. Insiders sold 4,479,366 shares of company stock valued at $1,076,666,297 in the last three months. 15.80% of the stock is owned by corporate insiders.

Cencora Trading Down 1.2 %

Shares of NYSE:COR traded down $2.85 during midday trading on Friday, reaching $237.74. 1,170,844 shares of the company’s stock were exchanged, compared to its average volume of 1,367,834. The stock has a market cap of $47.42 billion, a price-to-earnings ratio of 26.01, a P/E/G ratio of 1.68 and a beta of 0.45. Cencora, Inc. has a fifty-two week low of $171.65 and a fifty-two week high of $247.66. The firm’s 50 day simple moving average is $231.85 and its two-hundred day simple moving average is $232.79. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.53.

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 analysts’ consensus estimates of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business had revenue of $74.20 billion during the quarter, compared to analysts’ expectations of $73.32 billion. During the same period last year, the business earned $2.92 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, sell-side analysts forecast that Cencora, Inc. will post 13.56 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 9th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.86%. Cencora’s dividend payout ratio (DPR) is presently 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.