HBK Sorce Advisory LLC Decreases Holdings in Cencora, Inc. (NYSE:COR)

HBK Sorce Advisory LLC decreased its holdings in Cencora, Inc. (NYSE:COR) by 1.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,939 shares of the company’s stock after selling 192 shares during the period. HBK Sorce Advisory LLC’s holdings in Cencora were worth $4,042,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in COR. Rise Advisors LLC purchased a new stake in Cencora during the first quarter valued at about $25,000. Legacy Bridge LLC bought a new position in Cencora during the 1st quarter worth approximately $27,000. New Millennium Group LLC bought a new position in Cencora during the 2nd quarter worth approximately $26,000. TCTC Holdings LLC purchased a new position in Cencora in the 1st quarter worth approximately $29,000. Finally, TFO Wealth Partners LLC bought a new stake in Cencora in the first quarter valued at approximately $30,000. Institutional investors own 97.52% of the company’s stock.

Cencora Stock Up 0.6 %

Shares of NYSE:COR opened at $237.61 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. The stock has a fifty day simple moving average of $233.58 and a two-hundred day simple moving average of $233.27. Cencora, Inc. has a 12-month low of $175.50 and a 12-month high of $247.66. The stock has a market capitalization of $47.39 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 1.54 and a beta of 0.44.

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. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The company had revenue of $74.20 billion during the quarter, compared to the consensus estimate of $73.32 billion. During the same quarter last year, the firm earned $2.92 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, research analysts anticipate that Cencora, Inc. will post 13.61 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.86%. The ex-dividend date was Friday, August 9th. Cencora’s payout ratio is currently 22.32%.

Insider Activity at Cencora

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the 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 transaction, the insider now owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total transaction of $357,482.37. Following the sale, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The transaction was disclosed in a legal filing with the SEC, which is available 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 stock was sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the completion of the transaction, the insider now directly 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. Over the last 90 days, insiders sold 4,450,399 shares of company stock worth $1,070,392,799. 15.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on COR shares. JPMorgan Chase & Co. upped their price target on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Leerink Partners restated an “outperform” rating and set a $275.00 price target on shares of Cencora in a report on Thursday, June 27th. Wells Fargo & Company lifted 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. Robert W. Baird dropped their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. Finally, StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $258.13.

Cencora Company 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.