Wealth Enhancement Advisory Services LLC Raises Stock Position in Cencora, Inc. (NYSE:COR)

Wealth Enhancement Advisory Services LLC increased its holdings in shares of Cencora, Inc. (NYSE:COR) by 3.2% in the third quarter, Holdings Channel reports. The firm owned 277,077 shares of the company’s stock after acquiring an additional 8,636 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Cencora were worth $62,364,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. New Millennium Group LLC purchased a new stake in shares of Cencora in the second quarter worth about $26,000. TCTC Holdings LLC acquired a new stake in Cencora in the first quarter valued at approximately $29,000. TFO Wealth Partners LLC acquired a new stake in Cencora in the first quarter valued at approximately $30,000. LRI Investments LLC acquired a new position in shares of Cencora during the first quarter worth $31,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Cencora in the second quarter valued at $30,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction that occurred on Thursday, August 1st. The stock was 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 in the company, valued at $4,806,388,800. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Cencora 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 value of $1,067,646,415.76. Following the sale, the insider now directly owns 19,980,000 shares of the company’s stock, valued at $4,806,388,800. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Steven H. Collis sold 21,509 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the transaction, the chairman now directly owns 285,088 shares of the company’s stock, valued at approximately $67,223,750.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,461,153 shares of company stock worth $1,073,075,720 over the last quarter. 15.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Leerink Partners cut their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. JPMorgan Chase & Co. raised their price objective on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Robert W. Baird dropped their price objective on Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a report on Friday, September 6th. Finally, Bank of America reiterated a “neutral” rating and set a $245.00 target price (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Cencora has an average rating of “Moderate Buy” and a consensus price target of $259.44.

Cencora Trading Down 0.3 %

NYSE:COR opened at $234.47 on Friday. The company has a market cap of $46.77 billion, a PE ratio of 25.65, a P/E/G ratio of 1.40 and a beta of 0.44. The business’s 50 day moving average is $232.15 and its two-hundred day moving average is $230.81. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93. Cencora, Inc. has a 52 week low of $182.75 and a 52 week high of $247.66.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $74.20 billion for the quarter, compared to analysts’ expectations of $73.32 billion. During the same period last year, the business posted $2.92 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, analysts predict that Cencora, Inc. will post 13.63 EPS for the current year.

Cencora Dividend Announcement

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

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.