MJP Associates Inc. ADV Raises Stock Holdings in Cencora, Inc. (NYSE:COR)

MJP Associates Inc. ADV lifted its holdings in shares of Cencora, Inc. (NYSE:COR) by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,372 shares of the company’s stock after buying an additional 73 shares during the quarter. MJP Associates Inc. ADV’s holdings in Cencora were worth $534,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in COR. Valeo Financial Advisors LLC boosted its holdings in Cencora by 3.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,566 shares of the company’s stock worth $353,000 after buying an additional 51 shares during the last quarter. Rise Advisors LLC purchased a new position in shares of Cencora in the first quarter valued at approximately $25,000. Legacy Bridge LLC acquired a new stake in shares of Cencora in the first quarter worth approximately $27,000. TCTC Holdings LLC purchased a new stake in shares of Cencora during the first quarter worth approximately $29,000. Finally, TFO Wealth Partners LLC acquired a new position in Cencora in the 1st quarter valued at $30,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Trading Up 0.5 %

Shares of Cencora stock traded up $1.28 during mid-day trading on Friday, hitting $237.77. The stock had a trading volume of 1,258,770 shares, compared to its average volume of 1,395,790. The firm has a 50-day moving average of $230.76 and a two-hundred day moving average of $231.99. The firm has a market cap of $47.42 billion, a P/E ratio of 26.01, a price-to-earnings-growth ratio of 1.68 and a beta of 0.45. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 3.93. Cencora, Inc. has a 12-month low of $171.65 and a 12-month high of $247.66.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.16. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The company had revenue of $74.20 billion during the quarter, compared to analyst estimates of $73.32 billion. During the same period in the prior year, the business posted $2.92 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. Sell-side analysts forecast that Cencora, Inc. will post 13.56 earnings per share for the current year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 9th will be issued a $0.51 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.04 annualized dividend and a yield of 0.86%. Cencora’s dividend payout ratio (DPR) is currently 22.32%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on COR. Wells Fargo & Company lifted their target price on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Citigroup upped their price objective on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. SVB Leerink reiterated an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a report on Thursday, June 27th. StockNews.com upgraded Cencora from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Robert W. Baird increased their price target on Cencora from $285.00 to $287.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.57.

Insider Buying and Selling at Cencora

In related news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the transaction, the executive vice president now directly owns 10,948 shares in the company, valued at $2,656,970.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 19,980,000 shares of the company’s stock, valued at $4,806,388,800. The disclosure for this sale can be found here. Insiders have sold 6,338,756 shares of company stock valued at $1,476,658,274 over the last 90 days. 15.80% of the stock is owned by insiders.

Cencora Company 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.