InterOcean Capital Group LLC Buys Shares of 1,034 Cencora, Inc. (NYSE:COR)

InterOcean Capital Group LLC purchased a new position in shares of Cencora, Inc. (NYSE:COR) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,034 shares of the company’s stock, valued at approximately $251,000.

A number of other hedge funds have also recently modified their holdings of the business. TD Asset Management Inc purchased a new stake in Cencora in the 1st quarter worth approximately $95,313,000. LSV Asset Management bought a new position in shares of Cencora in the first quarter worth approximately $3,579,000. Cairn Investment Group Inc. purchased a new stake in shares of Cencora in the first quarter worth $2,294,000. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Cencora during the 1st quarter valued at $1,862,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Cencora during the 1st quarter valued at $15,632,000. Institutional investors own 97.52% of the company’s stock.

Cencora Trading Up 0.5 %

NYSE:COR opened at $227.11 on Friday. The company has a market capitalization of $45.30 billion, a P/E ratio of 24.85, a PEG ratio of 1.57 and a beta of 0.45. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.41. Cencora, Inc. has a 12 month low of $171.65 and a 12 month high of $246.75. The firm has a fifty day simple moving average of $226.85 and a 200-day simple moving average of $230.36.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $3.80 EPS for the quarter, beating the consensus estimate of $3.65 by $0.15. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The business had revenue of $68.41 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same period in the previous year, the business posted $3.50 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts anticipate that Cencora, Inc. will post 13.46 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Thursday, May 9th. Cencora’s dividend payout ratio (DPR) is 22.32%.

Wall Street Analyst Weigh In

COR has been the topic of several research analyst reports. Citigroup boosted their price objective on Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. SVB Leerink reissued an “outperform” rating and set a $275.00 target price on shares of Cencora in a research note on Thursday, June 27th. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Finally, Robert W. Baird lifted their price objective on shares of Cencora from $280.00 to $285.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $238.78.

Insider Activity at Cencora

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of Cencora stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the completion of the transaction, the insider now directly owns 24,418,171 shares of the company’s stock, valued at approximately $5,252,836,945.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of Cencora stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total value of $399,991,976.80. Following the completion of the transaction, the insider now owns 24,418,171 shares in the company, valued at approximately $5,252,836,945.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,899,112 shares of company stock worth $408,654,376. 15.80% of the stock is owned by corporate insiders.

Cencora 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.