Foundations Investment Advisors LLC Raises Position in Cencora, Inc. (NYSE:COR)

Foundations Investment Advisors LLC lifted its stake in shares of Cencora, Inc. (NYSE:COR) by 35.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,287 shares of the company’s stock after purchasing an additional 1,395 shares during the period. Foundations Investment Advisors LLC’s holdings in Cencora were worth $1,190,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of COR. Fisher Asset Management LLC purchased a new stake in shares of Cencora during the 4th quarter worth approximately $244,000. AdvisorNet Financial Inc purchased a new position in Cencora in the 1st quarter valued at approximately $134,000. Gateway Investment Advisers LLC purchased a new position in Cencora in the 1st quarter valued at approximately $845,000. Sunbelt Securities Inc. purchased a new position in Cencora in the 1st quarter valued at approximately $67,000. Finally, Brookstone Capital Management purchased a new position in Cencora in the 1st quarter valued at approximately $1,183,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Transactions at Cencora

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction on 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 transaction, the insider now owns 19,980,000 shares in the company, valued at $4,806,388,800. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total value of $5,071,822.20. Following the transaction, the chairman now owns 285,088 shares in the company, valued at $67,223,750.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction on Thursday, August 1st. The stock was 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 owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,461,153 shares of company stock valued at $1,073,075,720. Insiders own 15.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Robert W. Baird reduced their price objective on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Evercore ISI reduced their price objective on shares of Cencora from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Bank of America reissued a “neutral” rating and issued a $245.00 price target (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Finally, Wells Fargo & Company raised their price target on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Cencora has a consensus rating of “Moderate Buy” and a consensus target price of $259.44.

Cencora Stock Performance

NYSE COR opened at $234.52 on Thursday. Cencora, Inc. has a 52-week low of $182.75 and a 52-week high of $247.66. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. The company has a market capitalization of $46.78 billion, a P/E ratio of 25.66, a P/E/G ratio of 1.40 and a beta of 0.44. The company has a fifty day moving average of $232.25 and a 200-day moving average of $230.88.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The company had revenue of $74.20 billion during the quarter, compared to the consensus estimate of $73.32 billion. During the same period in the previous year, the firm posted $2.92 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. As a group, equities research analysts predict that Cencora, Inc. will post 13.63 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Friday, August 9th. Cencora’s dividend payout ratio is currently 22.32%.

About Cencora

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.