Greystone Financial Group LLC Purchases 425 Shares of Cencora, Inc. (NYSE:COR)

Greystone Financial Group LLC increased its position in Cencora, Inc. (NYSE:COR) by 15.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,095 shares of the company’s stock after acquiring an additional 425 shares during the quarter. Greystone Financial Group LLC’s holdings in Cencora were worth $697,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. purchased a new stake in Cencora in the fourth quarter valued at approximately $4,212,508,000. Price T Rowe Associates Inc. MD bought a new stake in Cencora in the first quarter valued at $2,183,619,000. JPMorgan Chase & Co. bought a new stake in shares of Cencora during the 1st quarter valued at $1,199,695,000. Boston Partners bought a new stake in shares of Cencora during the 1st quarter valued at $1,001,269,000. Finally, Capital Research Global Investors purchased a new position in shares of Cencora in the 1st quarter worth about $650,424,000. 97.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the sale, the executive vice president now owns 10,948 shares in the company, valued at $2,656,970.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the transaction, the insider now owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction on Tuesday, August 6th. The stock was 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 in the company, valued at approximately $2,656,970.12. The disclosure for this sale can be found here. Insiders have sold a total of 4,450,399 shares of company stock worth $1,070,392,799 over the last quarter. Company insiders own 15.80% of the company’s stock.

Cencora Trading Down 0.5 %

NYSE:COR traded down $1.27 during midday trading on Friday, hitting $234.97. 1,831,577 shares of the company traded hands, compared to its average volume of 1,368,321. The firm’s fifty day moving average is $232.25 and its 200-day moving average is $233.18. Cencora, Inc. has a 12-month low of $172.41 and a 12-month high of $247.66. The firm has a market capitalization of $46.87 billion, a P/E ratio of 25.70, a P/E/G ratio of 1.57 and a beta of 0.44. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.16. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The company had revenue of $74.20 billion for the quarter, compared to analyst estimates of $73.32 billion. During the same quarter in the prior year, the firm posted $2.92 EPS. Cencora’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts predict that Cencora, Inc. will post 13.61 EPS for the current year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a $0.51 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.87%. Cencora’s payout ratio is 22.32%.

Analysts Set New Price Targets

Several research firms have recently issued reports on COR. StockNews.com raised Cencora from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Robert W. Baird reduced their price target on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research report on Friday. Leerink Partners reiterated an “outperform” rating and set a $275.00 price objective on shares of Cencora in a research note on Thursday, June 27th. JPMorgan Chase & Co. upped their price target on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company upped their price target on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.13.

Cencora Company 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.