Hennessy Advisors Inc. Has $3.27 Million Stock Holdings in Cencora, Inc. $COR

Hennessy Advisors Inc. lowered its holdings in Cencora, Inc. (NYSE:COR) by 2.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,900 shares of the company’s stock after selling 300 shares during the period. Hennessy Advisors Inc.’s holdings in Cencora were worth $3,268,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of COR. Cornerstone Planning Group LLC boosted its holdings in Cencora by 106.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock valued at $26,000 after purchasing an additional 48 shares during the period. Hoey Investments Inc. bought a new stake in shares of Cencora during the 1st quarter worth approximately $28,000. Costello Asset Management INC bought a new stake in shares of Cencora during the 1st quarter worth approximately $28,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Cencora during the 1st quarter worth approximately $39,000. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Cencora by 157.6% during the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock worth $47,000 after acquiring an additional 104 shares during the period. Institutional investors own 97.52% of the company’s stock.

Cencora Price Performance

COR stock opened at $302.54 on Friday. The company has a 50 day simple moving average of $294.68 and a 200 day simple moving average of $290.25. The stock has a market cap of $58.66 billion, a price-to-earnings ratio of 31.13, a P/E/G ratio of 1.41 and a beta of 0.63. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $315.23. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm had revenue of $80.66 billion during the quarter, compared to analysts’ expectations of $80.34 billion. During the same period in the prior year, the company posted $3.34 EPS. The company’s revenue was up 8.7% on a year-over-year basis. Research analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora’s dividend payout ratio is 22.63%.

Insider Activity at Cencora

In other Cencora news, CEO Robert P. Mauch sold 5,097 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $290.00, for a total value of $1,478,130.00. Following the completion of the transaction, the chief executive officer directly owned 39,274 shares in the company, valued at approximately $11,389,460. This represents a 11.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Steven H. Collis sold 31,350 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of the transaction, the chairman owned 305,913 shares of the company’s stock, valued at approximately $88,671,942.18. This trade represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,993 shares of company stock valued at $16,292,923. Corporate insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a report on Wednesday, August 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cencora in a report on Saturday, September 27th. Jefferies Financial Group upped their price objective on shares of Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research report on Monday, June 30th. Finally, Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Ten research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $311.25.

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.