Sax Wealth Advisors LLC Invests $222,000 in Cencora, Inc. $COR

Sax Wealth Advisors LLC purchased a new position in Cencora, Inc. (NYSE:COR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 739 shares of the company’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. KLP Kapitalforvaltning AS increased its stake in shares of Cencora by 35.1% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 116,281 shares of the company’s stock valued at $34,867,000 after acquiring an additional 30,200 shares in the last quarter. Iowa State Bank increased its stake in shares of Cencora by 1.4% in the 2nd quarter. Iowa State Bank now owns 6,758 shares of the company’s stock valued at $2,026,000 after acquiring an additional 94 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in shares of Cencora by 6.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,270 shares of the company’s stock valued at $681,000 after acquiring an additional 130 shares in the last quarter. Knights of Columbus Asset Advisors LLC increased its stake in shares of Cencora by 6.2% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 44,209 shares of the company’s stock valued at $13,256,000 after acquiring an additional 2,586 shares in the last quarter. Finally, Marks Group Wealth Management Inc bought a new stake in shares of Cencora in the 2nd quarter valued at $201,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Analysts Set New Price Targets

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

Cencora Stock Performance

NYSE COR opened at $314.14 on Friday. Cencora, Inc. has a 1 year low of $220.82 and a 1 year high of $315.23. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. The firm has a market cap of $60.91 billion, a price-to-earnings ratio of 32.32, a PEG ratio of 1.45 and a beta of 0.63. The company has a fifty day moving average price of $296.39 and a 200-day moving average price of $291.26.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $80.34 billion. During the same quarter in the prior year, the business posted $3.34 EPS. The business’s revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

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

Insider Buying and Selling at Cencora

In other news, CEO Robert P. Mauch sold 5,097 shares of the company’s stock in a transaction 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 sale, the chief executive officer owned 39,274 shares in the company, valued at $11,389,460. This represents a 11.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction dated 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 transaction, the chairman owned 305,913 shares of the company’s stock, valued at approximately $88,671,942.18. The trade was a 9.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,993 shares of company stock valued at $16,292,923. Company insiders own 10.80% of the company’s stock.

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.