Stratos Wealth Partners LTD. Sells 129 Shares of Cencora, Inc. (NYSE:COR)

Stratos Wealth Partners LTD. trimmed its stake in Cencora, Inc. (NYSE:COR) by 14.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 781 shares of the company’s stock after selling 129 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Cencora were worth $217,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of COR. Hoey Investments Inc. acquired a new stake in Cencora in the first quarter worth $28,000. Banque Transatlantique SA acquired a new stake in Cencora in the fourth quarter worth $29,000. Vermillion Wealth Management Inc. acquired a new stake in Cencora in the fourth quarter worth $38,000. Golden State Wealth Management LLC grew its holdings in Cencora by 157.6% in 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 during the period. Finally, Olde Wealth Management LLC acquired a new stake in Cencora in the first quarter worth $48,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Up 1.1%

Cencora stock opened at $297.83 on Thursday. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35. The stock has a market cap of $57.73 billion, a PE ratio of 34.55, a price-to-earnings-growth ratio of 1.46 and a beta of 0.57. The firm’s 50-day simple moving average is $291.96 and its 200 day simple moving average is $271.13. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.52 and a current ratio of 0.87.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, topping the consensus estimate of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The business had revenue of $75.50 billion for the quarter, compared to analysts’ expectations of $75.41 billion. During the same period in the previous year, the company earned $3.80 earnings per share. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. Research analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.74%. The ex-dividend date was Friday, May 16th. Cencora’s dividend payout ratio (DPR) is presently 25.52%.

Analyst Upgrades and Downgrades

COR has been the subject of a number of research reports. Citigroup raised their price target on shares of Cencora from $330.00 to $355.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Jefferies Financial Group raised their price target on shares of Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a report on Monday, June 30th. Bank of America lifted their price objective on shares of Cencora from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, April 11th. UBS Group lifted their price objective on shares of Cencora from $298.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Finally, Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the company an “equal weight” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $309.83.

Insider Activity

In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of the business’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $289.33, for a total value of $1,437,680.77. Following the transaction, the chief executive officer directly owned 47,582 shares in the company, valued at $13,766,900.06. The trade was a 9.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the business’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the completion of the transaction, the chairman owned 311,913 shares in the company, valued at approximately $91,271,982.06. The trade was a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,127 shares of company stock worth $9,812,296. 10.80% of the stock is owned by corporate insiders.

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.