Cencora, Inc. (NYSE:COR) Shares Sold by First Foundation Advisors

First Foundation Advisors trimmed its stake in shares of Cencora, Inc. (NYSE:COR) by 5.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,899 shares of the company’s stock after selling 5,071 shares during the quarter. First Foundation Advisors’ holdings in Cencora were worth $19,128,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in shares of Cencora during the first quarter valued at approximately $25,000. Legacy Bridge LLC bought a new position in Cencora during the 1st quarter valued at $27,000. New Millennium Group LLC acquired a new position in shares of Cencora during the 2nd quarter valued at $26,000. TCTC Holdings LLC bought a new stake in shares of Cencora in the 1st quarter worth $29,000. Finally, TFO Wealth Partners LLC acquired a new stake in shares of Cencora in the first quarter valued at $30,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on COR shares. Wells Fargo & Company boosted their price target on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. boosted their target price on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Robert W. Baird cut their target price on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research note on Friday. StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Leerink Partners reiterated an “outperform” rating and set a $275.00 price objective on shares of Cencora in a research report on Thursday, June 27th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $258.13.

Cencora Stock Down 0.5 %

Shares of NYSE:COR opened at $234.97 on Monday. The firm has a 50 day simple moving average of $232.44 and a 200 day simple moving average of $233.20. Cencora, Inc. has a 52 week low of $172.41 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 cap of $46.30 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 1.54 and a beta of 0.44.

Cencora (NYSE:COR) last released its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. The company had revenue of $74.20 billion during the quarter, compared to analyst estimates of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.92 earnings per share. As a group, research analysts expect that Cencora, Inc. will post 13.61 earnings per share for the current year.

Cencora Dividend Announcement

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

Insider Activity

In related news, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the completion of the sale, the chief executive officer now directly owns 285,088 shares in the company, valued at $63,323,746.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Steven H. Collis sold 10,755 shares of Cencora stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the completion of the sale, the chief executive officer now owns 285,088 shares of the company’s stock, valued at $63,323,746.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the completion of the transaction, the insider now directly owns 19,980,000 shares in the company, valued at $4,806,388,800. The disclosure for this sale can be found here. Insiders have sold 4,450,399 shares of company stock worth $1,070,392,799 in the last 90 days. Company insiders own 15.80% of the company’s stock.

Cencora Company 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.