Arkadios Wealth Advisors Boosts Stock Position in Cencora, Inc. $COR

Arkadios Wealth Advisors boosted its stake in Cencora, Inc. (NYSE:COR) by 24.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,969 shares of the company’s stock after buying an additional 2,529 shares during the period. Arkadios Wealth Advisors’ holdings in Cencora were worth $3,889,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of COR. Invesco Ltd. lifted its holdings in Cencora by 42.1% in the first quarter. Invesco Ltd. now owns 4,607,964 shares of the company’s stock worth $1,281,429,000 after buying an additional 1,364,433 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in Cencora by 4,459.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 997,233 shares of the company’s stock worth $277,321,000 after buying an additional 975,362 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Cencora by 8.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company’s stock worth $2,682,821,000 after buying an additional 787,858 shares during the period. Nuveen LLC purchased a new stake in Cencora in the first quarter worth about $181,284,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in Cencora by 144.4% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 743,072 shares of the company’s stock worth $206,641,000 after buying an additional 439,008 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on COR. UBS Group raised their price objective on shares of Cencora from $350.00 to $380.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company raised their price objective on shares of Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a report on Wednesday, August 13th. Wall Street Zen downgraded shares of Cencora from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Evercore ISI set a $340.00 target price on shares of Cencora in a research note on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cencora in a research note on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $329.00.

Cencora Price Performance

Shares of NYSE COR opened at $333.20 on Thursday. The company has a market capitalization of $64.60 billion, a price-to-earnings ratio of 34.28, a P/E/G ratio of 1.57 and a beta of 0.63. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. The company has a 50 day simple moving average of $306.43 and a two-hundred day simple moving average of $296.34. Cencora, Inc. has a fifty-two week low of $223.92 and a fifty-two week high of $338.22.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.21. The company had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.34 earnings per share. Analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. Cencora’s dividend payout ratio (DPR) is 22.63%.

Insider Activity at Cencora

In related news, Chairman Steven H. Collis sold 31,350 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of the sale, the chairman owned 305,913 shares of the company’s stock, valued at $88,671,942.18. This trade represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert P. Mauch sold 5,097 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $326.80, for a total transaction of $1,665,699.60. Following the sale, the chief executive officer directly owned 37,940 shares of the company’s stock, valued at $12,398,792. This trade represents a 11.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,544 shares of company stock valued at $12,230,941 in the last three months. 10.80% of the stock is owned by insiders.

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.