Fifth Third Wealth Advisors LLC Reduces Position in Cencora, Inc. $COR

Fifth Third Wealth Advisors LLC cut its stake in shares of Cencora, Inc. (NYSE:COR) by 3.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,476 shares of the company’s stock after selling 87 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Cencora were worth $742,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC grew its holdings in shares of Cencora by 106.7% during the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock valued at $26,000 after buying an additional 48 shares during the last quarter. Costello Asset Management INC acquired a new position in Cencora during the first quarter valued at $28,000. University of Texas Texas AM Investment Management Co. acquired a new position in Cencora during the first quarter valued at $39,000. Golden State Wealth Management LLC lifted its position in Cencora by 157.6% during the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock valued at $47,000 after purchasing an additional 104 shares during the period. Finally, Olde Wealth Management LLC acquired a new position in Cencora during the first quarter valued at $48,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Chairman Steven H. Collis sold 31,350 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of the transaction, the chairman owned 305,913 shares in the company, valued at $88,671,942.18. This represents a 9.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert P. Mauch sold 5,097 shares of the company’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the transaction, the chief executive officer owned 39,274 shares of the company’s stock, valued at approximately $11,389,460. This trade represents a 11.49% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,993 shares of company stock valued at $16,292,923. Insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Cencora in a research report on Wednesday, October 8th. Jefferies Financial Group boosted their target price on shares of Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research report on Monday, June 30th. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Evercore ISI set a $340.00 target price on shares of Cencora in a research report on Wednesday. Finally, Wall Street Zen downgraded shares of Cencora from a “buy” rating to a “hold” rating in a research report on Saturday. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $320.00.

Cencora Trading Up 1.2%

Shares of Cencora stock opened at $318.01 on Monday. The firm has a 50-day simple moving average of $296.99 and a two-hundred day simple moving average of $291.87. The company has a market cap of $61.66 billion, a P/E ratio of 32.72, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63. Cencora, Inc. has a fifty-two week low of $221.95 and a fifty-two week high of $319.68. 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 issued its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, topping analysts’ consensus estimates of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The business had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. During the same quarter in the prior year, the firm posted $3.34 earnings per share. The company’s revenue was up 8.7% compared to the same quarter last year. As a group, equities analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora’s dividend payout ratio is 22.63%.

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.