Cencora, Inc. $COR Stock: Forvis Mazars Wealth Advisors LLC Grows Stake

Forvis Mazars Wealth Advisors LLC raised its holdings in shares of Cencora, Inc. (NYSE:COR) by 2,696.5% during the third quarter, Holdings Channel reports. The fund owned 25,364 shares of the company’s stock after buying an additional 24,457 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Cencora were worth $7,616,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Cencora during the second quarter worth approximately $5,154,136,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Cencora by 160.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock worth $2,262,956,000 after acquiring an additional 4,123,795 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Cencora in the 2nd quarter valued at $1,056,625,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Cencora in the 2nd quarter valued at $483,772,000. Finally, Legal & General Group Plc bought a new position in shares of Cencora during the 2nd quarter valued at $339,556,000. 97.52% of the stock is currently owned by institutional investors.

Cencora Trading Up 1.5%

Cencora stock traded up $5.01 during trading hours on Tuesday, reaching $330.07. The company had a trading volume of 1,113,849 shares, compared to its average volume of 1,474,959. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. Cencora, Inc. has a 12-month low of $244.82 and a 12-month high of $377.54. The company has a 50-day moving average price of $318.82 and a 200 day moving average price of $302.72. The firm has a market cap of $62.99 billion, a price-to-earnings ratio of 24.52, a P/E/G ratio of 1.66 and a beta of 0.58.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating analysts’ consensus estimates of $4.35 by $0.13. Cencora had a return on equity of 125.45% and a net margin of 0.79%. The firm had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. During the same quarter in the prior year, the firm posted $4.00 earnings per share. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities analysts forecast that Cencora, Inc. will post 17.87 earnings per share for the current year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, August 14th. Cencora’s dividend payout ratio is currently 17.83%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on COR shares. Weiss Ratings raised shares of Cencora from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, October 6th. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. upped their price target on shares of Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Leerink Partners upped their price target on shares of Cencora from $380.00 to $388.00 and gave the company an “outperform” rating in a research report on Wednesday, October 7th. Finally, Morgan Stanley raised their price objective on Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $365.69.

Insider Buying and Selling

In other Cencora news, EVP Elizabeth Campbell sold 11,300 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the sale, the executive vice president owned 19,455 shares of the company’s stock, valued at $6,305,754.60. This represents a 36.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.38% of the stock is owned by corporate insiders.

About Cencora

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical solutions company that sources, distributes and supports the delivery of medicines and healthcare products. The company serves pharmaceutical manufacturers, healthcare providers, pharmacies and animal-health customers through its supply-chain and commercialization services.

Its activities include pharmaceutical and specialty-product distribution, manufacturer services, specialty logistics, clinical-trial support, patient-support programs and other services designed to help bring medicines to market and improve access to treatment.