Pines Wealth Management LLC Takes Position in Cencora, Inc. (NYSE:COR)

Pines Wealth Management LLC acquired a new position in shares of Cencora, Inc. (NYSE:COR) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 850 shares of the company’s stock, valued at approximately $234,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. acquired a new stake in shares of Cencora in the fourth quarter valued at $205,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Cencora by 15.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,037 shares of the company’s stock worth $7,233,000 after buying an additional 4,283 shares during the period. Choreo LLC increased its position in shares of Cencora by 1.6% in the fourth quarter. Choreo LLC now owns 4,841 shares of the company’s stock worth $1,088,000 after acquiring an additional 76 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Cencora by 1.1% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,597 shares of the company’s stock valued at $6,425,000 after acquiring an additional 312 shares during the period. Finally, Generate Investment Management Ltd lifted its position in shares of Cencora by 92.4% in the 4th quarter. Generate Investment Management Ltd now owns 46,508 shares of the company’s stock valued at $10,449,000 after acquiring an additional 22,330 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. UBS Group upped their price target on shares of Cencora from $298.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Wells Fargo & Company upgraded shares of Cencora from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Morgan Stanley set a $288.00 target price on shares of Cencora in a research note on Tuesday, April 15th. Wall Street Zen upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, Robert W. Baird increased their price target on shares of Cencora from $314.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $306.91.

Cencora Stock Performance

Shares of COR opened at $289.01 on Friday. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35. The firm has a fifty day simple moving average of $286.29 and a 200 day simple moving average of $260.27. The stock has a market capitalization of $56.02 billion, a price-to-earnings ratio of 41.11, a PEG ratio of 1.31 and a beta of 0.58. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.07 by $0.35. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The firm had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. During the same period in the prior year, the firm posted $3.80 earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. Research analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 annualized dividend and a dividend yield of 0.76%. Cencora’s dividend payout ratio (DPR) is presently 25.52%.

Insider Activity at Cencora

In other news, CAO Lazarus Krikorian sold 2,000 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $260.06, for a total value of $520,120.00. Following the completion of the transaction, the chief accounting officer now owns 20,154 shares of the company’s stock, valued at approximately $5,241,249.24. This represents a 9.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the firm’s stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the completion of the transaction, the chairman now owns 315,913 shares of the company’s stock, valued at approximately $89,027,442.53. This trade represents a 4.41% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,253 shares of company stock worth $11,102,417. Corporate insiders own 10.80% of the company’s stock.

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.