Hennessy Advisors Inc. Has $3.06 Million Holdings in Cencora, Inc. (NYSE:COR)

Hennessy Advisors Inc. lessened its holdings in shares of Cencora, Inc. (NYSE:COR) by 21.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,600 shares of the company’s stock after selling 3,500 shares during the quarter. Hennessy Advisors Inc.’s holdings in Cencora were worth $3,062,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Buckley Wealth Management LLC acquired a new stake in Cencora during the 1st quarter worth $1,299,000. Jessup Wealth Management Inc acquired a new stake in shares of Cencora in the 1st quarter valued at about $334,000. Lincoln Capital Corp acquired a new stake in shares of Cencora in the 1st quarter valued at about $5,732,000. Thrive Wealth Management LLC acquired a new stake in shares of Cencora in the 1st quarter valued at about $218,000. Finally, Chesley Taft & Associates LLC acquired a new stake in shares of Cencora in the 1st quarter valued at about $16,373,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Activity

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of Cencora stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total value of $399,991,976.80. Following the completion of the sale, the insider now directly owns 24,418,171 shares in the company, valued at $5,252,836,945.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Cencora news, COO Robert P. Mauch sold 57,564 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $235.09, for a total transaction of $13,532,720.76. Following the completion of the transaction, the chief operating officer now directly owns 24,412 shares in the company, valued at $5,739,017.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the transaction, the insider now owns 24,418,171 shares of the company’s stock, valued at $5,252,836,945.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,956,675 shares of company stock worth $422,352,056. Corporate insiders own 15.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on COR. Robert W. Baird lifted their price target on Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Citigroup lifted their price target on Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. SVB Leerink restated an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a report on Thursday. Finally, StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $235.30.

Cencora Stock Performance

Shares of NYSE:COR traded down $3.19 during trading on Friday, reaching $224.77. 781,902 shares of the stock were exchanged, compared to its average volume of 1,390,500. Cencora, Inc. has a 12 month low of $171.65 and a 12 month high of $246.75. The firm has a market cap of $44.83 billion, a PE ratio of 24.93, a PEG ratio of 1.65 and a beta of 0.48. The stock has a 50-day moving average price of $229.40 and a 200-day moving average price of $227.67. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.41.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $3.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.65 by $0.15. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The company had revenue of $68.41 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the previous year, the company posted $3.50 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. Research analysts expect that Cencora, Inc. will post 13.44 EPS for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a $0.51 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.91%. Cencora’s payout ratio is 22.32%.

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.