Cencora, Inc. (NYSE:COR) Shares Sold by ICW Investment Advisors LLC

ICW Investment Advisors LLC lessened its stake in Cencora, Inc. (NYSE:COR) by 2.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,421 shares of the company’s stock after selling 294 shares during the quarter. Cencora accounts for 1.4% of ICW Investment Advisors LLC’s investment portfolio, making the stock its 15th largest position. ICW Investment Advisors LLC’s holdings in Cencora were worth $3,024,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Kingswood Wealth Advisors LLC acquired a new stake in shares of Cencora during the 2nd quarter valued at approximately $655,000. TD Asset Management Inc purchased a new stake in Cencora during the first quarter worth $95,313,000. LSV Asset Management acquired a new stake in Cencora in the first quarter valued at $3,579,000. Cairn Investment Group Inc. purchased a new position in shares of Cencora in the first quarter valued at $2,294,000. Finally, Lake Street Advisors Group LLC acquired a new position in shares of Cencora during the 1st quarter worth $836,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Trading Down 0.4 %

COR traded down $0.92 during midday trading on Friday, hitting $235.32. The company’s stock had a trading volume of 69,121 shares, compared to its average volume of 1,358,074. Cencora, Inc. has a 52-week low of $172.41 and a 52-week high of $247.66. The firm has a 50-day moving average price of $232.08 and a two-hundred day moving average price of $233.16. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. The firm has a market cap of $46.94 billion, a P/E ratio of 25.85, a PEG ratio of 1.57 and a beta of 0.45.

Cencora (NYSE:COR) last released its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. The firm 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 revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.92 earnings per share. On average, research analysts anticipate that Cencora, Inc. will post 13.61 earnings per share for the current year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Friday, August 9th. Cencora’s dividend payout ratio (DPR) is currently 22.32%.

Insider Activity at Cencora

In other news, CEO Steven H. Collis sold 10,755 shares of Cencora stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the transaction, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Steven H. Collis sold 10,755 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total value of $2,388,900.60. Following the completion of the sale, the chief executive officer now owns 285,088 shares of the company’s stock, valued at $63,323,746.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,450,399 shares of company stock worth $1,070,392,799. 15.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Wells Fargo & Company raised their price objective 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. Leerink Partners restated an “outperform” rating and set a $275.00 price objective on shares of Cencora in a research report on Thursday, June 27th. StockNews.com upgraded Cencora from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Robert W. Baird cut their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a report on Friday. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $258.13.

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.