Cencora, Inc. (NYSE:COR) Shares Sold by Annex Advisory Services LLC

Annex Advisory Services LLC reduced its stake in shares of Cencora, Inc. (NYSE:COR) by 4.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,067 shares of the company’s stock after selling 53 shares during the period. Annex Advisory Services LLC’s holdings in Cencora were worth $240,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COR. Fisher Asset Management LLC acquired a new stake in Cencora during the 4th quarter worth about $244,000. Trust Co. of Vermont purchased a new stake in shares of Cencora during the 4th quarter worth about $62,000. Wahed Invest LLC purchased a new stake in shares of Cencora during the 4th quarter worth about $567,000. Vanguard Group Inc. purchased a new stake in shares of Cencora during the 4th quarter worth about $4,212,508,000. Finally, Hennessy Advisors Inc. purchased a new stake in shares of Cencora during the 4th quarter worth about $3,307,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on COR shares. StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company increased their target price on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Citigroup raised their price target on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. SVB Leerink reaffirmed an “outperform” rating and issued a $275.00 price target on shares of Cencora in a research note on Thursday, June 27th. Finally, Robert W. Baird raised their price target on shares of Cencora from $285.00 to $287.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $254.57.

Cencora Price Performance

Cencora stock traded up $1.28 during midday trading on Friday, reaching $237.77. The company had a trading volume of 1,258,770 shares, compared to its average volume of 1,395,790. The company has a market capitalization of $47.42 billion, a P/E ratio of 26.01, a P/E/G ratio of 1.68 and a beta of 0.45. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.53. Cencora, Inc. has a 12-month low of $171.65 and a 12-month high of $247.66. The firm’s fifty day simple moving average is $230.76 and its 200-day simple moving average is $231.89.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. The company had revenue of $74.20 billion during the quarter, compared to the consensus estimate of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. Cencora’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.92 EPS. As a group, equities analysts anticipate that Cencora, Inc. will post 13.56 EPS for the current year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 9th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.86%. Cencora’s payout ratio is 22.32%.

Insider Buying and Selling at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the 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 sale, the insider now owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total transaction of $357,482.37. Following the sale, the executive vice president now owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,338,756 shares of company stock worth $1,476,658,274. Insiders own 15.80% of the company’s stock.

Cencora 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.