Horizon Investments LLC Acquires 86 Shares of Cencora, Inc. (NYSE:COR)

Horizon Investments LLC lifted its holdings in Cencora, Inc. (NYSE:COR) by 3.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,496 shares of the company’s stock after purchasing an additional 86 shares during the period. Horizon Investments LLC’s holdings in Cencora were worth $694,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in COR. Cornerstone Planning Group LLC lifted its stake in shares of Cencora by 106.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock worth $26,000 after purchasing an additional 48 shares during the period. Hoey Investments Inc. purchased a new position in Cencora during the first quarter valued at approximately $28,000. Costello Asset Management INC purchased a new position in Cencora during the first quarter valued at approximately $28,000. Banque Transatlantique SA purchased a new position in Cencora during the fourth quarter valued at approximately $29,000. Finally, Vermillion Wealth Management Inc. purchased a new position in Cencora during the fourth quarter valued at approximately $38,000. Institutional investors own 97.52% of the company’s stock.

Cencora Trading Down 0.5%

Shares of COR opened at $293.28 on Friday. The company’s fifty day moving average is $292.70 and its 200 day moving average is $279.16. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35. The stock has a market capitalization of $56.86 billion, a PE ratio of 30.17, a P/E/G ratio of 1.39 and a beta of 0.58. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The company had revenue of $80.66 billion for the quarter, compared to analysts’ expectations of $80.34 billion. During the same quarter in the previous year, the business posted $3.34 earnings per share. Cencora’s quarterly revenue was up 8.7% on a year-over-year basis. Sell-side analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, August 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, August 15th. Cencora’s payout ratio is currently 22.63%.

Analyst Upgrades and Downgrades

COR has been the topic of several analyst reports. Robert W. Baird lifted 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. Jefferies Financial Group lifted their price target on shares of Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a report on Monday, June 30th. Wells Fargo & Company set a $354.00 price target on shares of Cencora and gave the company an “overweight” rating in a report on Wednesday. Citigroup lifted their price target on shares of Cencora from $330.00 to $355.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Finally, Morgan Stanley set a $330.00 price target on shares of Cencora and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $311.25.

Insider Buying and Selling at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction on Friday, July 18th. The shares were sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the completion of the transaction, the chief executive officer directly owned 42,351 shares of the company’s stock, valued at $12,455,852.61. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 14,578 shares of Cencora stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $292.67, for a total transaction of $4,266,543.26. Following the transaction, the chairman directly owned 309,913 shares of the company’s stock, valued at $90,702,237.71. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,125 shares of company stock worth $9,993,789 in the last 90 days. 10.80% of the stock is currently owned by company insiders.

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.