Nicholson Wealth Management Group LLC Makes New Investment in Cencora, Inc. (NYSE:COR)

Nicholson Wealth Management Group LLC bought a new stake in Cencora, Inc. (NYSE:COR - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,456 shares of the company's stock, valued at approximately $1,678,000. Cencora makes up 1.4% of Nicholson Wealth Management Group LLC's holdings, making the stock its 15th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. New Millennium Group LLC acquired a new position in Cencora in the second quarter valued at approximately $26,000. TCTC Holdings LLC acquired a new position in shares of Cencora in the 1st quarter valued at $29,000. TFO Wealth Partners LLC purchased a new position in shares of Cencora during the 1st quarter worth $30,000. MFA Wealth Advisors LLC acquired a new stake in shares of Cencora during the 2nd quarter worth about $30,000. Finally, LRI Investments LLC purchased a new stake in Cencora in the 1st quarter valued at about $31,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on COR. Leerink Partners lowered their target price on shares of Cencora from $277.00 to $275.00 and set an "outperform" rating for the company in a research note on Monday, October 7th. Bank of America reaffirmed a "neutral" rating and set a $245.00 price objective (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Evercore ISI cut their target price on Cencora from $270.00 to $250.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 8th. Robert W. Baird lowered their price target on Cencora from $287.00 to $283.00 and set an "outperform" rating for the company in a research report on Friday, September 6th. Finally, Wells Fargo & Company boosted their price objective on Cencora from $236.00 to $249.00 and gave the company an "equal weight" rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Cencora currently has a consensus rating of "Moderate Buy" and a consensus price target of $259.44.

Cencora Stock Down 0.3 %

COR traded down $0.69 on Friday, hitting $234.47. 1,003,864 shares of the company were exchanged, compared to its average volume of 1,411,099. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. The company has a market cap of $46.77 billion, a price-to-earnings ratio of 25.65, a price-to-earnings-growth ratio of 1.40 and a beta of 0.44. The firm has a 50-day moving average price of $232.15 and a two-hundred day moving average price of $230.87. Cencora, Inc. has a twelve month low of $182.75 and a twelve month high of $247.66.

Cencora (NYSE:COR - Get Free Report) last released 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 firm had revenue of $74.20 billion for the quarter, compared to analyst estimates of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.92 earnings per share. On average, equities analysts predict that Cencora, Inc. will post 13.63 earnings per share for the current year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders 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 annualized dividend and a dividend yield of 0.87%. Cencora's dividend payout ratio (DPR) is currently 22.32%.

Insider Buying and Selling

In other news, Chairman Steven H. Collis sold 21,509 shares of the 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 transaction, the chairman now owns 285,088 shares in the company, valued at approximately $67,223,750.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Silvana Battaglia sold 1,473 shares of the business's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value of $357,482.37. Following the completion of the sale, the executive vice president now directly owns 10,948 shares of the company's stock, valued at $2,656,970.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Steven H. Collis sold 21,509 shares of the firm's 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 transaction, the chairman now directly owns 285,088 shares in the company, valued at approximately $67,223,750.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,461,153 shares of company stock worth $1,073,075,720. Corporate insiders own 15.80% 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.