KFG Wealth Management LLC Reduces Stake in Cencora, Inc. (NYSE:COR)

KFG Wealth Management LLC cut its holdings in shares of Cencora, Inc. (NYSE:COR) by 5.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,168 shares of the company’s stock after selling 131 shares during the quarter. KFG Wealth Management LLC’s holdings in Cencora were worth $603,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. DAVENPORT & Co LLC increased its position in shares of Cencora by 2.2% during the fourth quarter. DAVENPORT & Co LLC now owns 5,509 shares of the company’s stock valued at $1,238,000 after buying an additional 120 shares during the period. Stratos Wealth Partners LTD. bought a new stake in Cencora during the 4th quarter valued at approximately $205,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Cencora by 15.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,037 shares of the company’s stock worth $7,233,000 after acquiring an additional 4,283 shares during the period. Choreo LLC grew its holdings in shares of Cencora by 1.6% during the 4th quarter. Choreo LLC now owns 4,841 shares of the company’s stock worth $1,088,000 after acquiring an additional 76 shares during the period. Finally, Trilogy Capital Inc. raised its position in shares of Cencora by 5.1% in the 4th quarter. Trilogy Capital Inc. now owns 1,038 shares of the company’s stock worth $233,000 after acquiring an additional 50 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cencora

In other news, CAO Lazarus Krikorian sold 2,000 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $260.06, for a total value of $520,120.00. Following the completion of the transaction, the chief accounting officer now owns 20,154 shares in the company, valued at $5,241,249.24. The trade was a 9.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $268.28, for a total value of $1,107,191.56. Following the transaction, the executive vice president now directly owns 14,665 shares in the company, valued at approximately $3,934,326.20. The trade was a 21.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,253 shares of company stock worth $11,102,417. Insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on COR shares. Morgan Stanley set a $288.00 price target on Cencora in a research report on Tuesday, April 15th. UBS Group raised their price objective on Cencora from $298.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Wall Street Zen upgraded shares of Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Wells Fargo & Company raised shares of Cencora from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $274.00 to $337.00 in a research report on Tuesday. Finally, Robert W. Baird lifted their price target on shares of Cencora from $314.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $306.91.

Cencora Stock Performance

Shares of COR stock opened at $289.01 on Friday. The company has a market capitalization of $56.02 billion, a price-to-earnings ratio of 41.11, a price-to-earnings-growth ratio of 1.31 and a beta of 0.58. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35. The company’s 50-day moving average is $286.29 and its 200 day moving average is $260.15.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.07 by $0.35. The firm had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.80 earnings per share. Sell-side analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 annualized dividend and a yield of 0.76%. Cencora’s dividend payout ratio (DPR) is presently 25.52%.

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.