Valley National Advisers Inc. Raises Stock Position in Cencora, Inc. (NYSE:COR)

Valley National Advisers Inc. raised its stake in Cencora, Inc. (NYSE:COR) by 34,181.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 7,542 shares of the company’s stock after buying an additional 7,520 shares during the quarter. Valley National Advisers Inc.’s holdings in Cencora were worth $1,697,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of COR. Price T Rowe Associates Inc. MD purchased a new position in shares of Cencora during the 1st quarter worth approximately $2,183,619,000. JPMorgan Chase & Co. purchased a new position in shares of Cencora during the 1st quarter worth approximately $1,199,695,000. Boston Partners purchased a new position in shares of Cencora during the 1st quarter worth approximately $1,001,269,000. Capital Research Global Investors purchased a new position in shares of Cencora during the 1st quarter worth approximately $650,424,000. Finally, Bessemer Group Inc. purchased a new position in shares of Cencora during the 1st quarter worth approximately $556,245,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the sale, the insider now owns 19,980,000 shares of the company’s stock, valued at $4,806,388,800. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a 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 Cencora stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the completion of the transaction, the insider now directly owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Silvana Battaglia sold 1,473 shares of the business’s 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 owns 10,948 shares of the company’s stock, valued at $2,656,970.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,461,153 shares of company stock valued at $1,073,075,720 in the last quarter. Company insiders own 15.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on COR. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Leerink Partners decreased their target price on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Bank of America restated a “neutral” rating and set a $245.00 target price (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company raised their target price on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Cencora has a consensus rating of “Moderate Buy” and an average target price of $259.44.

Cencora Stock Performance

NYSE:COR opened at $234.47 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. The firm has a market capitalization of $46.77 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.40 and a beta of 0.44. The firm’s fifty day simple moving average is $232.15 and its 200 day simple moving average is $230.81. Cencora, Inc. has a twelve month low of $182.75 and a twelve month high of $247.66.

Cencora (NYSE:COR) last posted its 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. The business had revenue of $74.20 billion for the quarter, compared to analyst estimates of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.92 EPS. As a group, equities research analysts expect that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Dividend Announcement

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

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.