Steele Capital Management Inc. Invests $409,000 in Cencora, Inc. (NYSE:COR)

Steele Capital Management Inc. bought a new position in shares of Cencora, Inc. (NYSE:COR) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,685 shares of the company’s stock, valued at approximately $409,000.

Several other hedge funds have also recently added to or reduced their stakes in COR. Rise Advisors LLC purchased a new stake in shares of Cencora in the 1st quarter valued at approximately $25,000. CVA Family Office LLC purchased a new position in Cencora in the first quarter valued at $34,000. Bruce G. Allen Investments LLC acquired a new stake in Cencora in the first quarter valued at $43,000. Park Place Capital Corp purchased a new stake in Cencora during the 1st quarter worth about $46,000. Finally, Kathmere Capital Management LLC lifted its holdings in Cencora by 15.2% during the 1st quarter. Kathmere Capital Management LLC now owns 1,498 shares of the company’s stock worth $364,000 after buying an additional 198 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. SVB Leerink reissued an “outperform” rating and set a $275.00 target price on shares of Cencora in a research report on Thursday. StockNews.com cut shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Citigroup boosted their price target 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. Finally, Robert W. Baird upped their price objective on shares of Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $235.30.

Insider Transactions at Cencora

In other news, EVP Gina Clark sold 1,874 shares of the business’s stock in a transaction dated 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Gina Clark sold 1,874 shares of Cencora stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $223.86, for a total value of $419,513.64. Following the sale, the executive vice president now directly owns 13,284 shares in the company, valued at $2,973,756.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Robert P. Mauch sold 57,564 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $235.09, for a total value of $13,532,720.76. Following the completion of the transaction, the chief operating officer now owns 24,412 shares of the company’s stock, valued at approximately $5,739,017.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,956,675 shares of company stock worth $422,352,056. Company insiders own 15.80% of the company’s stock.

Cencora Stock Performance

Shares of COR traded down $1.72 during mid-day trading on Monday, hitting $223.58. 1,723,139 shares of the company’s stock were exchanged, compared to its average volume of 1,409,780. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.41. Cencora, Inc. has a fifty-two week low of $171.65 and a fifty-two week high of $246.75. The business’s 50 day moving average is $228.85 and its two-hundred day moving average is $228.32. The firm has a market capitalization of $44.59 billion, a P/E ratio of 24.46, a P/E/G ratio of 1.57 and a beta of 0.45.

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

Cencora Announces Dividend

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