HBK Sorce Advisory LLC Sells 1,106 Shares of Cencora, Inc. $COR

HBK Sorce Advisory LLC lowered its position in Cencora, Inc. (NYSE:COR) by 7.1% during the 2nd quarter, Holdings Channel reports. The fund owned 14,505 shares of the company’s stock after selling 1,106 shares during the period. HBK Sorce Advisory LLC’s holdings in Cencora were worth $4,349,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Premier Path Wealth Partners LLC boosted its holdings in Cencora by 5.6% in the second quarter. Premier Path Wealth Partners LLC now owns 1,379 shares of the company’s stock worth $413,000 after acquiring an additional 73 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in Cencora by 712.0% in the second quarter. Hantz Financial Services Inc. now owns 203 shares of the company’s stock worth $61,000 after acquiring an additional 178 shares in the last quarter. Arkadios Wealth Advisors boosted its holdings in Cencora by 24.2% in the second quarter. Arkadios Wealth Advisors now owns 12,969 shares of the company’s stock worth $3,889,000 after acquiring an additional 2,529 shares in the last quarter. Emerald Advisers LLC bought a new position in Cencora in the second quarter worth approximately $628,000. Finally, Barnes Dennig Private Wealth Management LLC raised its stake in shares of Cencora by 24.1% in the second quarter. Barnes Dennig Private Wealth Management LLC now owns 288 shares of the company’s stock worth $86,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction on Tuesday, September 16th. The stock was 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 directly owned 305,913 shares of the company’s stock, valued at approximately $88,671,942.18. This represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction on Monday, October 20th. The shares were sold at an average price of $326.80, for a total value of $1,665,699.60. Following the transaction, the chief executive officer directly owned 37,940 shares of the company’s stock, valued at approximately $12,398,792. This trade represents a 11.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 41,544 shares of company stock valued at $12,230,941 over the last ninety days. 10.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on COR shares. Weiss Ratings reissued a “buy (b)” rating on shares of Cencora in a research note on Wednesday, October 8th. Wall Street Zen downgraded Cencora from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Mizuho increased their price objective on Cencora from $316.00 to $334.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Evercore ISI set a $340.00 price objective on Cencora in a research note on Wednesday, October 8th. Finally, UBS Group increased their price objective on Cencora from $350.00 to $380.00 and gave the stock a “buy” rating in a research note on Monday. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and a consensus price target of $329.00.

Cencora Stock Performance

Shares of COR opened at $333.20 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. The company has a market capitalization of $64.60 billion, a price-to-earnings ratio of 34.28, a PEG ratio of 1.57 and a beta of 0.63. The stock has a 50 day moving average of $306.43 and a 200 day moving average of $296.34. Cencora, Inc. has a 12 month low of $223.92 and a 12 month high of $338.22.

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

Cencora Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Cencora’s dividend payout ratio (DPR) is presently 22.63%.

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.