Grimes & Company Inc. Takes Position in Cencora, Inc. (NYSE:COR)

Grimes & Company Inc. bought a new stake in shares of Cencora, Inc. (NYSE:COR) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,197 shares of the company’s stock, valued at approximately $291,000.

A number of other large investors have also recently modified their holdings of the stock. Rise Advisors LLC bought a new stake in Cencora during the first quarter worth about $25,000. CVA Family Office LLC bought a new stake in Cencora during the first quarter worth about $34,000. Bruce G. Allen Investments LLC bought a new stake in Cencora during the first quarter worth about $43,000. Kathmere Capital Management LLC boosted its stake in Cencora by 15.2% during the first quarter. Kathmere Capital Management LLC now owns 1,498 shares of the company’s stock worth $364,000 after acquiring an additional 198 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in Cencora during the first quarter worth about $67,000. Institutional investors own 97.52% of the company’s stock.

Cencora Stock Performance

Shares of COR traded down $2.66 during mid-day trading on Friday, hitting $225.30. 2,859,201 shares of the company traded hands, compared to its average volume of 1,758,029. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.53 and a current ratio of 0.89. The stock has a 50-day moving average price of $229.12 and a two-hundred day moving average price of $227.99. Cencora, Inc. has a 1 year low of $171.65 and a 1 year high of $246.75. The stock has a market cap of $44.94 billion, a price-to-earnings ratio of 24.65, a P/E/G ratio of 1.58 and a beta of 0.48.

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

Cencora Dividend Announcement

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

Insider Buying and Selling at Cencora

In related news, COO Robert P. Mauch sold 57,564 shares of the company’s stock in a transaction 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 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 is available through this hyperlink. In other Cencora news, COO Robert P. Mauch sold 57,564 shares of the stock in a transaction 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 owns 24,412 shares in the company, valued at $5,739,017.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven H. Collis sold 10,754 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the transaction, the chief executive officer now owns 285,088 shares of the company’s stock, valued at approximately $67,702,698.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,956,675 shares of company stock valued at $422,352,056. Insiders own 15.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.