American Institute for Advanced Investment Management LLP purchased a new stake in Cencora, Inc. (NYSE:COR - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,751 shares of the company's stock, valued at approximately $2,870,000. Cencora comprises 2.0% of American Institute for Advanced Investment Management LLP's holdings, making the stock its 9th largest position.
Other hedge funds have also recently bought and sold shares of the company. Kingswood Wealth Advisors LLC bought a new position in Cencora during the second quarter worth about $655,000. TD Asset Management Inc bought a new position in Cencora in the first quarter valued at approximately $95,313,000. LSV Asset Management acquired a new position in Cencora during the first quarter valued at approximately $3,579,000. Lake Street Advisors Group LLC bought a new stake in Cencora during the first quarter worth $836,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Cencora in the 1st quarter valued at $1,862,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.
Cencora Trading Up 0.3 %
Cencora stock traded up $0.64 during trading hours on Thursday, reaching $235.16. 866,647 shares of the company's stock were exchanged, compared to its average volume of 1,413,047. The firm's 50 day simple moving average is $232.25 and its 200 day simple moving average is $230.88. Cencora, Inc. has a twelve month low of $182.75 and a twelve month high of $247.66. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93. The firm has a market capitalization of $46.90 billion, a PE ratio of 25.66, a PEG ratio of 1.40 and a beta of 0.44.
Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping analysts' consensus estimates of $3.18 by $0.16. The business had revenue of $74.20 billion during the quarter, compared to the consensus estimate of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The firm's revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.92 earnings per share. Research analysts predict that Cencora, Inc. will post 13.63 earnings per share for the current year.
Cencora Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid 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 dividend payout ratio (DPR) is presently 22.32%.
Insider Buying and Selling at Cencora
In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company's stock in a transaction dated 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 sale, the insider now owns 19,980,000 shares in the company, valued at $4,806,388,800. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the sale, the chairman now owns 285,088 shares of the company's stock, valued at approximately $67,223,750.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction dated 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 of the company's stock, valued at $4,806,388,800. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,461,153 shares of company stock valued at $1,073,075,720. Corporate insiders own 15.80% of the company's stock.
Analyst Ratings Changes
Several brokerages recently weighed in on COR. Wells Fargo & Company upped their price objective on Cencora from $236.00 to $249.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 1st. Evercore ISI dropped their target price on shares of Cencora from $270.00 to $250.00 and set an "outperform" rating for the company in a report on Tuesday, October 8th. StockNews.com cut shares of Cencora from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 20th. Robert W. Baird cut their target price on shares of Cencora from $287.00 to $283.00 and set an "outperform" rating on the stock in a research report on Friday, September 6th. Finally, Bank of America reiterated a "neutral" rating and set a $245.00 price target (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $259.44.
Read Our Latest Analysis on Cencora
Cencora Profile
(
Free Report)
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.
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