Obermeyer Wood Investment Counsel Lllp Grows Position in Cencora, Inc. (NYSE:COR)

Obermeyer Wood Investment Counsel Lllp increased its position in shares of Cencora, Inc. (NYSE:COR) by 8.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,666 shares of the company’s stock after purchasing an additional 216 shares during the period. Obermeyer Wood Investment Counsel Lllp’s holdings in Cencora were worth $601,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Claro Advisors LLC lifted its holdings in Cencora by 9.3% during the 2nd quarter. Claro Advisors LLC now owns 1,250 shares of the company’s stock valued at $282,000 after buying an additional 106 shares in the last quarter. Barlow Wealth Partners Inc. raised its holdings in shares of Cencora by 5.4% in the 2nd quarter. Barlow Wealth Partners Inc. now owns 1,339 shares of the company’s stock valued at $303,000 after purchasing an additional 68 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Cencora in the 2nd quarter valued at about $631,000. Farther Finance Advisors LLC raised its holdings in shares of Cencora by 15.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,569 shares of the company’s stock valued at $351,000 after purchasing an additional 207 shares in the last quarter. Finally, Concurrent Investment Advisors LLC raised its holdings in shares of Cencora by 9.7% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 6,865 shares of the company’s stock valued at $1,547,000 after purchasing an additional 606 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

Cencora Stock Performance

NYSE:COR traded up $1.97 during trading hours on Friday, hitting $239.57. 1,229,115 shares of the company were exchanged, compared to its average volume of 1,239,012. The stock has a market capitalization of $47.21 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 1.57 and a beta of 0.45. Cencora, Inc. has a 52-week low of $171.65 and a 52-week high of $247.66. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. The company’s 50 day moving average price is $231.85 and its 200-day moving average price is $232.94.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.18 by $0.16. The business had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.92 EPS. As a group, research analysts forecast that Cencora, Inc. will post 13.61 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend was Friday, August 9th. Cencora’s dividend payout ratio (DPR) is currently 22.32%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on COR shares. Wells Fargo & Company boosted their price target on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Robert W. Baird boosted their price target on shares of Cencora from $285.00 to $287.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Leerink Partners reiterated an “outperform” rating and set a $275.00 price objective on shares of Cencora in a research note on Thursday, June 27th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $258.63.

Insider Activity

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the sale, the insider now directly owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the completion of the transaction, the chief executive officer now directly owns 285,088 shares in the company, valued at $63,323,746.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the transaction, the insider now owns 19,980,000 shares of the company’s stock, valued at $4,806,388,800. The disclosure for this sale can be found here. Insiders have sold 4,450,399 shares of company stock valued at $1,070,392,799 in the last ninety days. Insiders own 15.80% of the company’s stock.

Cencora Company 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.