Journey Advisory Group LLC Lowers Stock Holdings in Cencora, Inc. $COR

Journey Advisory Group LLC cut its holdings in Cencora, Inc. (NYSE:COR) by 10.0% during the second quarter, Holdings Channel reports. The institutional investor owned 1,841 shares of the company’s stock after selling 204 shares during the quarter. Journey Advisory Group LLC’s holdings in Cencora were worth $552,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COR. Obermeyer Wealth Partners raised its holdings in shares of Cencora by 1.3% in the first quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company’s stock worth $758,000 after acquiring an additional 36 shares during the last quarter. Grove Bank & Trust boosted its position in shares of Cencora by 4.3% in the second quarter. Grove Bank & Trust now owns 879 shares of the company’s stock worth $264,000 after buying an additional 36 shares during the period. U.S. Capital Wealth Advisors LLC boosted its position in shares of Cencora by 0.4% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 8,547 shares of the company’s stock worth $2,563,000 after buying an additional 38 shares during the period. Monument Capital Management boosted its position in shares of Cencora by 2.4% in the second quarter. Monument Capital Management now owns 1,637 shares of the company’s stock worth $491,000 after buying an additional 38 shares during the period. Finally, Cromwell Holdings LLC boosted its holdings in Cencora by 9.5% in the first quarter. Cromwell Holdings LLC now owns 450 shares of the company’s stock valued at $125,000 after purchasing an additional 39 shares during the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COR has been the subject of a number of analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Cencora in a report on Wednesday, October 8th. Evercore ISI set a $340.00 price target on Cencora in a research report on Wednesday, October 8th. Wall Street Zen downgraded Cencora from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Morgan Stanley set a $330.00 price target on Cencora and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Finally, Mizuho lifted their target price on Cencora from $316.00 to $334.00 and gave the stock an “outperform” rating in a report on Thursday. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.91.

Cencora Price Performance

NYSE COR opened at $327.56 on Tuesday. The stock has a 50-day simple moving average of $301.04 and a 200 day simple moving average of $293.60. 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 stock has a market capitalization of $63.51 billion, a PE ratio of 33.70, a P/E/G ratio of 1.52 and a beta of 0.63. Cencora, Inc. has a twelve month low of $223.92 and a twelve month high of $329.58.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, beating the consensus estimate of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The firm had revenue of $80.66 billion during the quarter, compared to analysts’ expectations of $80.34 billion. During the same quarter in the prior year, the firm posted $3.34 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Research analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

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

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 31,350 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the sale, the chairman owned 305,913 shares of the company’s stock, valued at approximately $88,671,942.18. This trade represents a 9.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert P. Mauch sold 5,097 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $290.00, for a total value of $1,478,130.00. Following the sale, the chief executive officer directly owned 39,274 shares in the company, valued at $11,389,460. The trade was a 11.49% decrease in their position. The disclosure for this sale can be found here. 10.80% of the stock is currently owned by company insiders.

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.