Beacon Financial Group Sells 323 Shares of Cencora, Inc. (NYSE:COR)

Beacon Financial Group reduced its stake in Cencora, Inc. (NYSE:COR) by 2.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,375 shares of the company’s stock after selling 323 shares during the period. Beacon Financial Group’s holdings in Cencora were worth $2,556,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Concord Wealth Partners purchased a new position in shares of Cencora during the 3rd quarter worth approximately $30,000. Householder Group Estate & Retirement Specialist LLC grew its stake in Cencora by 85.2% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock worth $33,000 after purchasing an additional 69 shares during the period. Ashton Thomas Securities LLC bought a new position in Cencora in the third quarter worth $41,000. Modus Advisors LLC bought a new position in Cencora in the fourth quarter worth $54,000. Finally, Carolina Wealth Advisors LLC lifted its position in Cencora by 366.7% during the third quarter. Carolina Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $60,000 after buying an additional 209 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction on Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the transaction, the executive vice president now owns 20,329 shares in the company, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 50,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $243.97, for a total value of $12,198,500.00. Following the completion of the sale, the chairman now owns 326,557 shares of the company’s stock, valued at $79,670,111.29. This trade represents a 13.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,187 shares of company stock valued at $17,790,912 in the last quarter. 10.80% of the stock is currently owned by insiders.

Cencora Stock Up 0.2 %

Shares of Cencora stock opened at $246.86 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. Cencora, Inc. has a twelve month low of $214.77 and a twelve month high of $262.26. The company has a market cap of $47.71 billion, a price-to-earnings ratio of 35.11, a price-to-earnings-growth ratio of 1.49 and a beta of 0.49. The company’s 50 day moving average is $238.86 and its 200 day moving average is $237.03.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. Research analysts anticipate that Cencora, Inc. will post 15.36 EPS for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.89%. Cencora’s dividend payout ratio is currently 31.29%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Robert W. Baird increased their price target on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Evercore ISI upped their price objective on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company lifted their target price on shares of Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Mizuho assumed coverage on Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target on the stock. Finally, Barclays raised their price objective on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.90.

About Cencora

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.