Argent Trust Co Has $5.39 Million Holdings in Cencora, Inc. (NYSE:COR)

Argent Trust Co increased its stake in shares of Cencora, Inc. (NYSE:COR) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,903 shares of the company’s stock after purchasing an additional 449 shares during the period. Argent Trust Co’s holdings in Cencora were worth $5,385,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in COR. Rise Advisors LLC acquired a new position in Cencora in the first quarter valued at about $25,000. New Millennium Group LLC acquired a new position in Cencora in the second quarter valued at about $26,000. Legacy Bridge LLC acquired a new position in Cencora in the first quarter valued at about $27,000. TCTC Holdings LLC acquired a new position in Cencora in the first quarter valued at about $29,000. Finally, TFO Wealth Partners LLC acquired a new position in Cencora in the first quarter valued at about $30,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 19,980,000 shares in the company, valued at $4,806,388,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 19,980,000 shares in the company, valued at $4,806,388,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Steven H. Collis sold 10,755 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total value of $2,388,900.60. Following the completion of the transaction, the chief executive officer now directly owns 285,088 shares in the company, valued at approximately $63,323,746.56. The disclosure for this sale can be found here. Insiders have sold 4,450,399 shares of company stock worth $1,070,392,799 over the last 90 days. Company insiders own 15.80% of the company’s stock.

Cencora Stock Performance

COR opened at $234.53 on Wednesday. Cencora, Inc. has a 52-week low of $177.00 and a 52-week high of $247.66. The firm has a market capitalization of $46.78 billion, a PE ratio of 25.66, a PEG 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 business’s 50-day simple moving average is $234.52 and its 200 day simple moving average is $233.26.

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

Cencora Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Leerink Partners reissued an “outperform” rating and issued a $275.00 target price on shares of Cencora in a research note on Thursday, June 27th. JPMorgan Chase & Co. boosted their price target on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. StockNews.com upgraded Cencora from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Robert W. Baird cut their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a report on Friday, September 6th. Finally, Wells Fargo & Company boosted their price target on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $258.13.

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.