Cencora, Inc. $COR Shares Sold by Venturi Wealth Management LLC

Venturi Wealth Management LLC lessened its holdings in shares of Cencora, Inc. (NYSE:COR) by 7.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,437 shares of the company’s stock after selling 351 shares during the period. Venturi Wealth Management LLC’s holdings in Cencora were worth $1,330,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cornerstone Planning Group LLC grew its holdings in Cencora by 106.7% during the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock worth $26,000 after acquiring an additional 48 shares during the period. Hoey Investments Inc. acquired a new position in Cencora during the first quarter worth $28,000. Costello Asset Management INC acquired a new position in Cencora during the first quarter worth $28,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Cencora during the first quarter worth $39,000. Finally, Golden State Wealth Management LLC boosted its position in Cencora by 157.6% during the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock worth $47,000 after purchasing an additional 104 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Stock Performance

NYSE COR opened at $310.77 on Thursday. The business’s 50-day moving average price is $295.83 and its 200 day moving average price is $290.94. Cencora, Inc. has a twelve month low of $220.03 and a twelve month high of $315.23. The company has a market capitalization of $60.25 billion, a PE ratio of 31.97, a price-to-earnings-growth ratio of 1.44 and a beta of 0.63. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64.

Cencora (NYSE:COR) last released its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.21. The firm had revenue of $80.66 billion for the quarter, compared to the consensus estimate of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.34 earnings per share. On average, research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

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

Insider Activity

In other news, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $290.00, for a total value of $1,478,130.00. Following the completion of the sale, the chief executive officer owned 39,274 shares in the company, valued at approximately $11,389,460. This trade represents a 11.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total value of $9,087,111.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 55,993 shares of company stock valued at $16,292,923 over the last 90 days. 10.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

COR has been the topic of a number of research analyst reports. Evercore ISI set a $340.00 target price on Cencora in a research report on Wednesday. Weiss Ratings reiterated a “buy (b)” rating on shares of Cencora in a research report on Wednesday. Wells Fargo & Company boosted their target price on Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Jefferies Financial Group boosted their target price on 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 target price on Cencora and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cencora has an average rating of “Moderate Buy” and a consensus target price of $320.00.

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.