Jackson Wealth Management LLC Trims Position in Cencora, Inc. $COR

Jackson Wealth Management LLC lowered its stake in shares of Cencora, Inc. (NYSE:COR) by 3.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,153 shares of the company’s stock after selling 921 shares during the period. Jackson Wealth Management LLC’s holdings in Cencora were worth $8,442,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of COR. Merit Financial Group LLC raised its stake in Cencora by 47.6% during the first quarter. Merit Financial Group LLC now owns 9,749 shares of the company’s stock worth $2,711,000 after purchasing an additional 3,146 shares during the period. Vest Financial LLC purchased a new position in Cencora during the first quarter worth approximately $240,000. Curat Global LLC purchased a new position in Cencora during the first quarter worth approximately $111,000. Unique Wealth LLC raised its stake in Cencora by 14.5% during the first quarter. Unique Wealth LLC now owns 1,586 shares of the company’s stock worth $441,000 after purchasing an additional 201 shares during the period. Finally, Permanent Capital Management LP raised its stake in Cencora by 4.0% during the first quarter. Permanent Capital Management LP now owns 1,238 shares of the company’s stock worth $344,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Price Performance

COR opened at $302.54 on Friday. The company has a fifty day simple moving average of $294.68 and a 200 day simple moving average of $290.08. The firm has a market cap of $58.66 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 1.44 and a beta of 0.63. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $315.23. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64.

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

Cencora Announces Dividend

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

Insiders Place Their Bets

In other Cencora news, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction on 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 transaction, the chairman directly 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 legal filing with the SEC, which is available through this link. Also, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction on Thursday, September 18th. The shares were 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 in the company, valued at $11,389,460. This trade represents a 11.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,993 shares of company stock worth $16,292,923 over the last quarter. 10.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

COR has been the topic of a number of recent analyst reports. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Wells Fargo & Company increased their price objective on shares of Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Cencora in a research report on Saturday, September 27th. Finally, Jefferies Financial Group increased their price objective on shares of Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research report on Monday, June 30th. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $311.25.

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.