Equitable Trust Co. Purchases 2,552 Shares of Cencora, Inc. $COR

Equitable Trust Co. grew its position in shares of Cencora, Inc. (NYSE:COR) by 31.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,767 shares of the company’s stock after buying an additional 2,552 shares during the quarter. Equitable Trust Co.’s holdings in Cencora were worth $3,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Invesco Ltd. increased its holdings in shares of 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 purchasing an additional 1,364,433 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of 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 purchasing an additional 975,362 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 purchasing an additional 787,858 shares during the last quarter. Nuveen LLC bought a new stake in shares of Cencora in the first quarter worth about $181,284,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of 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 purchasing an additional 439,008 shares during the last quarter. 97.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on COR. Evercore ISI set a $340.00 target price on Cencora in a report on Wednesday, October 8th. Wells Fargo & Company lifted their target price on Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a report on Wednesday, August 13th. Jefferies Financial Group lifted their price target on Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research report on Monday, June 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cencora in a research report on Wednesday, October 8th. Finally, Morgan Stanley set a $330.00 price target on Cencora and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $320.00.

Cencora Stock Down 0.2%

Shares of NYSE:COR opened at $317.24 on Tuesday. The business has a 50 day simple moving average of $297.46 and a two-hundred day simple moving average of $292.16. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. Cencora, Inc. has a 1 year low of $221.95 and a 1 year high of $319.87. The firm has a market capitalization of $61.51 billion, a PE ratio of 32.64, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63.

Cencora (NYSE:COR) last posted 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. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. During the same quarter in the previous year, the firm posted $3.34 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. On average, equities analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. Cencora’s payout ratio is 22.63%.

Insider Buying and Selling

In related news, CEO Robert P. Mauch sold 5,097 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $290.00, for a total value of $1,478,130.00. Following the completion of the transaction, the chief executive officer owned 39,274 shares of the company’s stock, valued at $11,389,460. The trade was a 11.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Steven H. Collis sold 31,350 shares of the company’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total value of $9,087,111.00. Following the transaction, the chairman directly owned 305,913 shares in the company, valued at approximately $88,671,942.18. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,993 shares of company stock valued at $16,292,923 in the last three months. 10.80% of the stock is currently 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.