Westover Capital Advisors LLC Sells 370 Shares of Cencora, Inc. (NYSE:COR)

Westover Capital Advisors LLC reduced its position in Cencora, Inc. (NYSE:COR) by 3.1% in the second quarter, Holdings Channel.com reports. The fund owned 11,719 shares of the company’s stock after selling 370 shares during the quarter. Westover Capital Advisors LLC’s holdings in Cencora were worth $2,640,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Fisher Asset Management LLC bought a new stake in Cencora during the fourth quarter valued at approximately $244,000. Trust Co. of Vermont bought a new stake in Cencora during the fourth quarter valued at approximately $62,000. Wahed Invest LLC bought a new stake in Cencora during the fourth quarter valued at approximately $567,000. Vanguard Group Inc. bought a new stake in Cencora during the fourth quarter valued at approximately $4,212,508,000. Finally, Hennessy Advisors Inc. bought a new stake in Cencora during the fourth quarter valued at approximately $3,307,000. 97.52% of the stock is currently owned by institutional investors.

Insider Activity at Cencora

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the sale, the insider now owns 19,980,000 shares in the company, valued at $4,806,388,800. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the sale, the insider now owns 19,980,000 shares in the company, valued at $4,806,388,800. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Steven H. Collis sold 10,755 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the sale, the chief executive officer now owns 285,088 shares in the company, valued at approximately $63,323,746.56. The disclosure for this sale can be found here. Insiders have sold a total of 4,450,399 shares of company stock worth $1,070,392,799 over the last quarter. Corporate insiders own 15.80% of the company’s stock.

Analyst Ratings Changes

COR has been the subject of several research analyst reports. Leerink Partners reiterated an “outperform” rating and set a $275.00 target price on shares of Cencora in a research report on Thursday, June 27th. Robert W. Baird decreased their price target on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. JPMorgan Chase & Co. lifted 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. Wells Fargo & Company lifted their price target 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. Finally, StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $258.13.

Cencora Stock Up 0.9 %

Shares of NYSE COR opened at $239.88 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93. Cencora, Inc. has a 52 week low of $175.50 and a 52 week high of $247.66. The firm’s fifty day moving average is $233.92 and its 200 day moving average is $233.28. The company has a market cap of $47.27 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 1.55 and a beta of 0.44.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The company had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. During the same period in the previous year, the firm earned $2.92 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities research analysts expect that Cencora, Inc. will post 13.63 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 0.85%. The ex-dividend date was Friday, August 9th. Cencora’s dividend payout ratio (DPR) is currently 22.32%.

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.