Smithbridge Asset Management Inc. DE Boosts Stock Position in Cencora, Inc. (NYSE:COR)

Smithbridge Asset Management Inc. DE lifted its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 85.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,704 shares of the company's stock after purchasing an additional 2,164 shares during the quarter. Smithbridge Asset Management Inc. DE's holdings in Cencora were worth $1,059,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Sunbelt Securities Inc. bought a new stake in shares of Cencora in the 1st quarter worth about $67,000. Hennion & Walsh Asset Management Inc. purchased a new stake in Cencora during the first quarter valued at approximately $1,862,000. Trilogy Capital Inc. bought a new stake in shares of Cencora in the 1st quarter valued at approximately $312,000. LVW Advisors LLC bought a new stake in shares of Cencora in the 1st quarter valued at approximately $623,000. Finally, Claro Advisors LLC purchased a new position in shares of Cencora in the 1st quarter worth approximately $278,000. Institutional investors own 97.52% of the company's stock.

Cencora Stock Down 0.4 %

Shares of COR stock traded down $0.86 during mid-day trading on Monday, hitting $233.61. The stock had a trading volume of 835,420 shares, compared to its average volume of 1,408,331. Cencora, Inc. has a 12-month low of $182.75 and a 12-month high of $247.66. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. The firm's 50-day moving average is $232.15 and its two-hundred day moving average is $230.76. The firm has a market capitalization of $46.59 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 1.40 and a beta of 0.44.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data 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 company had revenue of $74.20 billion during 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 firm's revenue for the quarter 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, analysts predict that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Dividend Announcement

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

Insider Buying and Selling

In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the transaction, the executive vice president now owns 10,948 shares in the company, valued at $2,656,970.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the 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 sale, the insider now directly owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 1,473 shares of the business's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the sale, the executive vice president now owns 10,948 shares in the company, valued at $2,656,970.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,461,153 shares of company stock worth $1,073,075,720 in the last three months. 15.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

COR has been the subject of a number of analyst reports. Evercore ISI lowered their price target on Cencora from $270.00 to $250.00 and set an "outperform" rating for the company in a research report on Tuesday, October 8th. Leerink Partners dropped their price target 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. Wells Fargo & Company increased their price objective 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. Bank of America restated a "neutral" rating and set a $245.00 target price (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. raised their price target on Cencora from $280.00 to $287.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Cencora presently has an average rating of "Moderate Buy" and an average target price of $259.44.

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.