WBI Investments LLC Invests $424,000 in Cencora, Inc. (NYSE:COR)

WBI Investments LLC purchased a new position in shares of Cencora, Inc. (NYSE:COR) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 1,745 shares of the company’s stock, valued at approximately $424,000.

Other large investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in Cencora in the first quarter valued at $25,000. Legacy Bridge LLC acquired a new position in Cencora during the first quarter worth about $27,000. WASHINGTON TRUST Co acquired a new position in Cencora during the first quarter worth about $32,000. Concord Wealth Partners acquired a new position in Cencora during the first quarter worth about $33,000. Finally, Hanson & Doremus Investment Management acquired a new position in Cencora during the first quarter worth about $33,000. 97.52% of the stock is currently owned by institutional investors.

Insider Activity at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total value of $399,991,976.80. Following the completion of the sale, the insider now directly owns 24,418,171 shares in the company, valued at $5,252,836,945.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Steven H. Collis sold 10,754 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the completion of the transaction, the chief executive officer now directly owns 285,088 shares in the company, valued at $67,702,698.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total value of $399,991,976.80. Following the transaction, the insider now directly owns 24,418,171 shares of the company’s stock, valued at $5,252,836,945.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,956,675 shares of company stock worth $422,352,056. 15.80% of the stock is owned by insiders.

Cencora Price Performance

Cencora stock traded down $0.59 on Thursday, reaching $221.83. The company’s stock had a trading volume of 523,079 shares, compared to its average volume of 1,378,828. 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 company has a market cap of $44.24 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.55 and a beta of 0.45. The business’s fifty day moving average price is $226.74 and its 200 day moving average price is $229.18. Cencora, Inc. has a twelve month low of $171.65 and a twelve month high of $246.75.

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

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were issued a $0.51 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.92%. Cencora’s dividend payout ratio is presently 22.32%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on COR. SVB Leerink reissued an “outperform” rating and issued a $275.00 price target on shares of Cencora in a research note on Thursday, June 27th. Citigroup lifted their price target on Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Robert W. Baird lifted their price target on Cencora from $280.00 to $285.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.10.

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.