Cencora, Inc. (NYSE:COR) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. reduced its stake in shares of Cencora, Inc. (NYSE:COR) by 25.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,873 shares of the company’s stock after selling 1,329 shares during the period. Raymond James Trust N.A.’s holdings in Cencora were worth $873,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in Cencora during the 1st quarter worth $25,000. Legacy Bridge LLC acquired a new position in shares of Cencora in the 1st quarter valued at about $27,000. TCTC Holdings LLC acquired a new position in shares of Cencora in the 1st quarter valued at about $29,000. TFO Wealth Partners LLC acquired a new position in shares of Cencora in the 1st quarter valued at about $30,000. Finally, LRI Investments LLC acquired a new position in shares of Cencora in the 1st quarter valued at about $31,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Price Performance

Shares of NYSE COR traded down $1.36 during midday trading on Monday, reaching $236.38. The company’s stock had a trading volume of 156,779 shares, compared to its average volume of 1,360,474. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.93. The company has a 50 day moving average price of $231.85 and a 200 day moving average price of $232.76. Cencora, Inc. has a one year low of $171.65 and a one year high of $247.66. The company has a market cap of $47.15 billion, a price-to-earnings ratio of 26.01, a price-to-earnings-growth ratio of 1.68 and a beta of 0.45.

Cencora (NYSE:COR) last released its earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. During the same period in the previous year, the firm earned $2.92 EPS. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities research analysts expect that Cencora, Inc. will post 13.56 EPS for the current year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, August 9th. Cencora’s dividend payout ratio (DPR) is currently 22.32%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on COR. Robert W. Baird lifted their price target on shares of Cencora from $285.00 to $287.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Wells Fargo & Company lifted their price objective on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Citigroup lifted their price objective on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $258.63.

Insider Transactions at Cencora

In other news, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value of $357,482.37. Following the transaction, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the transaction, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gina Clark sold 1,874 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $223.86, for a total transaction of $419,513.64. Following the transaction, the executive vice president now directly owns 13,284 shares in the company, valued at $2,973,756.24. The disclosure for this sale can be found here. Insiders have sold a total of 4,479,366 shares of company stock valued at $1,076,666,297 over the last ninety days. Corporate insiders own 15.80% of the company’s stock.

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.