Bernard Wealth Management Corp. Takes Position in Cencora, Inc. (NYSE:COR)

Bernard Wealth Management Corp. bought a new stake in Cencora, Inc. (NYSE:COR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 296 shares of the company’s stock, valued at approximately $67,000.

Other hedge funds also recently modified their holdings of the company. JFS Wealth Advisors LLC raised its holdings in shares of Cencora by 63.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after acquiring an additional 46 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Cencora during the fourth quarter worth $30,000. Kentucky Trust Co purchased a new stake in shares of Cencora during the fourth quarter worth $33,000. WASHINGTON TRUST Co raised its holdings in shares of Cencora by 37.7% during the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock worth $38,000 after acquiring an additional 46 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new stake in shares of Cencora during the fourth quarter worth $41,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Trading Up 0.7%

Shares of NYSE:COR opened at $292.23 on Monday. The company has a market cap of $56.64 billion, a P/E ratio of 41.57, a P/E/G ratio of 1.31 and a beta of 0.60. The stock’s 50-day moving average is $282.42 and its 200-day moving average is $257.20. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $309.35. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.07 by $0.35. The company had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. Cencora had a return on equity of 328.62% and a net margin of 0.46%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the business posted $3.80 earnings per share. Equities research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 16th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Friday, May 16th. Cencora’s dividend payout ratio (DPR) is presently 25.52%.

Wall Street Analysts Forecast Growth

COR has been the topic of several recent research reports. Morgan Stanley set a $288.00 target price on Cencora in a report on Tuesday, April 15th. Wells Fargo & Company raised their target price on Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Citigroup raised their target price on Cencora from $330.00 to $355.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Bank of America raised their target price on Cencora from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, April 11th. Finally, UBS Group raised their target price on Cencora from $298.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $301.18.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the sale, the chairman now directly owns 315,913 shares of the company’s stock, valued at $89,027,442.53. This trade represents a 4.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Elizabeth S. Campbell sold 4,127 shares of Cencora stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $268.28, for a total value of $1,107,191.56. Following the sale, the executive vice president now directly owns 14,665 shares in the company, valued at approximately $3,934,326.20. This trade represents a 21.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,223 shares of company stock valued at $12,369,767 over the last three months. 10.80% of the stock is owned by corporate insiders.

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.