5,517 Shares in Cencora, Inc. (NYSE:COR) Acquired by Sowell Financial Services LLC

Sowell Financial Services LLC acquired a new position in shares of Cencora, Inc. (NYSE:COR) during the first quarter, Holdings Channel reports. The institutional investor acquired 5,517 shares of the company’s stock, valued at approximately $1,534,000.

A number of other large investors have also modified their holdings of COR. Vontobel Holding Ltd. increased its holdings in Cencora by 46.9% during the 4th quarter. Vontobel Holding Ltd. now owns 6,245 shares of the company’s stock worth $1,403,000 after purchasing an additional 1,995 shares during the period. Allworth Financial LP increased its stake in shares of Cencora by 43.7% during the fourth quarter. Allworth Financial LP now owns 2,403 shares of the company’s stock worth $593,000 after buying an additional 731 shares during the period. Valmark Advisers Inc. purchased a new stake in shares of Cencora during the fourth quarter worth approximately $233,000. J.W. Cole Advisors Inc. increased its stake in shares of Cencora by 9.9% during the fourth quarter. J.W. Cole Advisors Inc. now owns 4,031 shares of the company’s stock worth $906,000 after buying an additional 362 shares during the period. Finally, JFS Wealth Advisors LLC increased its stake in shares of Cencora by 63.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after buying an additional 46 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 14,579 shares of the firm’s stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the transaction, the chairman now owns 315,913 shares of the company’s stock, valued at $89,027,442.53. This trade represents a 4.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $289.33, for a total value of $1,437,680.77. Following the completion of the transaction, the chief executive officer now owns 47,582 shares in the company, valued at $13,766,900.06. This trade represents a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,253 shares of company stock valued at $10,582,297 over the last quarter. 10.80% of the stock is currently owned by insiders.

Cencora Trading Up 0.2%

NYSE:COR opened at $293.17 on Wednesday. The stock’s 50 day moving average price is $287.98 and its 200 day moving average price is $262.32. The company has a market capitalization of $56.82 billion, a PE ratio of 34.01, a P/E/G ratio of 1.45 and a beta of 0.58. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $309.35.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.07 by $0.35. The business had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the firm posted $3.80 earnings per share. On average, research analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.75%. The ex-dividend date was Friday, May 16th. Cencora’s payout ratio is currently 25.52%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on COR. Citigroup increased their price objective on shares of Cencora from $330.00 to $355.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Morgan Stanley set a $288.00 target price on Cencora in a report on Tuesday, April 15th. Bank of America increased their target price on Cencora from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, April 11th. Wells Fargo & Company upgraded Cencora from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $274.00 to $337.00 in a report on Tuesday, June 3rd. Finally, Robert W. Baird increased their price objective on Cencora from $314.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. One equities research 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $306.91.

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.