Valley National Advisers Inc. Acquires 7,520 Shares of Cencora, Inc. (NYSE:COR)

Valley National Advisers Inc. raised its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 34,181.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,542 shares of the company's stock after acquiring an additional 7,520 shares during the period. Valley National Advisers Inc.'s holdings in Cencora were worth $1,697,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in COR. New Millennium Group LLC acquired a new stake in Cencora in the 2nd quarter valued at approximately $26,000. TCTC Holdings LLC acquired a new stake in shares of Cencora in the first quarter worth $29,000. TFO Wealth Partners LLC bought a new position in Cencora during the first quarter worth $30,000. LRI Investments LLC acquired a new position in Cencora during the 1st quarter valued at $31,000. Finally, MFA Wealth Advisors LLC bought a new stake in Cencora in the 2nd quarter valued at $30,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Steven H. Collis sold 21,509 shares of the business's stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the transaction, the chairman now owns 285,088 shares of the company's stock, valued at $67,223,750.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the sale, the executive vice president now owns 10,948 shares of the company's stock, valued at $2,656,970.12. This represents 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 business's stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the sale, the chairman now directly owns 285,088 shares in the company, valued at $67,223,750.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,461,153 shares of company stock worth $1,073,075,720. Company insiders own 15.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Evercore ISI cut their price objective on shares of Cencora from $270.00 to $250.00 and set an "outperform" rating for the company in a research report on Tuesday, October 8th. 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 research report on Thursday, August 1st. Robert W. Baird lowered their price target on shares of Cencora from $287.00 to $283.00 and set an "outperform" rating on the stock in a report on Friday, September 6th. Bank of America reissued a "neutral" rating and issued a $245.00 target price (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. raised their price target on shares of Cencora from $280.00 to $287.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 21st. Three investment 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, Cencora currently has an average rating of "Moderate Buy" and a consensus target price of $259.44.

Cencora Price Performance

Shares of Cencora stock traded down $0.69 during trading on Friday, reaching $234.47. The company's stock had a trading volume of 1,009,552 shares, compared to its average volume of 1,411,099. Cencora, Inc. has a one year low of $182.75 and a one year high of $247.66. 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 stock has a 50-day moving average price of $232.15 and a two-hundred day moving average price of $230.76. The stock has a market capitalization of $46.77 billion, a P/E ratio of 25.65, a price-to-earnings-growth ratio of 1.40 and a beta of 0.44.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, topping analysts' consensus estimates of $3.18 by $0.16. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The business had revenue of $74.20 billion during the quarter, compared to analysts' expectations of $73.32 billion. During the same period in the previous year, the firm earned $2.92 earnings per share. The firm's quarterly revenue was up 10.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cencora, Inc. will post 13.63 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Friday, August 9th. Cencora's payout ratio is presently 22.32%.

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.