Cencora, Inc. $COR Shares Sold by World Investment Advisors

World Investment Advisors lowered its stake in shares of Cencora, Inc. (NYSE:COR) by 28.9% in the second quarter, Holdings Channel reports. The institutional investor owned 14,767 shares of the company’s stock after selling 5,994 shares during the quarter. World Investment Advisors’ holdings in Cencora were worth $4,428,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in COR. Atlantic Edge Private Wealth Management LLC grew its position in shares of Cencora by 70.0% during the second quarter. Atlantic Edge Private Wealth Management LLC now owns 85 shares of the company’s stock worth $25,000 after buying an additional 35 shares in the last quarter. Cornerstone Planning Group LLC grew its position in shares of Cencora by 106.7% during the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock worth $26,000 after buying an additional 48 shares in the last quarter. Costello Asset Management INC acquired a new position in Cencora in the first quarter worth $28,000. University of Texas Texas AM Investment Management Co. acquired a new position in Cencora in the first quarter worth $39,000. Finally, Golden State Wealth Management LLC boosted its holdings in Cencora by 157.6% in the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock worth $47,000 after purchasing an additional 104 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Transactions at Cencora

In related news, CEO Robert P. Mauch sold 5,097 shares of Cencora stock in a transaction dated 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 in the company, valued at $12,398,792. The trade was a 11.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Steven H. Collis sold 31,350 shares of Cencora 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 sale, the chairman owned 305,913 shares in the company, valued at approximately $88,671,942.18. This represents a 9.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 41,544 shares of company stock worth $12,230,941. Company insiders own 10.80% of the company’s stock.

Cencora Stock Performance

Shares of COR opened at $333.20 on Thursday. Cencora, Inc. has a 1 year low of $223.92 and a 1 year high of $338.22. The company has a market cap of $64.60 billion, a price-to-earnings ratio of 34.28, a price-to-earnings-growth 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 firm has a fifty day moving average of $306.43 and a 200-day moving average of $296.34.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) 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 company 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 company posted $3.34 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, equities analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cencora in a report on Wednesday, October 8th. Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Evercore ISI set a $340.00 price objective on shares of Cencora in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Cencora from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Finally, Mizuho lifted their price objective on shares of Cencora from $316.00 to $334.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and an average target price of $329.00.

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.