Axxcess Wealth Management LLC Has $1.53 Million Stock Position in Cencora, Inc. (NYSE:COR)

Axxcess Wealth Management LLC reduced its position in shares of Cencora, Inc. (NYSE:COR) by 34.3% in the 4th quarter, Holdings Channel reports. The firm owned 6,826 shares of the company’s stock after selling 3,563 shares during the period. Axxcess Wealth Management LLC’s holdings in Cencora were worth $1,534,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Swedbank AB increased its holdings in shares of Cencora by 2.3% during the third quarter. Swedbank AB now owns 1,394,449 shares of the company’s stock worth $313,863,000 after buying an additional 31,104 shares in the last quarter. United Bank increased its holdings in shares of Cencora by 4.2% during the third quarter. United Bank now owns 5,601 shares of the company’s stock worth $1,261,000 after buying an additional 225 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of Cencora by 2.9% during the third quarter. Mutual of America Capital Management LLC now owns 21,528 shares of the company’s stock worth $4,846,000 after buying an additional 605 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Cencora by 28.5% during the third quarter. Thrivent Financial for Lutherans now owns 110,499 shares of the company’s stock worth $24,871,000 after buying an additional 24,492 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Cencora during the third quarter worth $1,648,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Performance

Shares of COR opened at $266.10 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. The stock has a market capitalization of $51.60 billion, a P/E ratio of 37.85, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51. The firm’s fifty day simple moving average is $249.41 and its two-hundred day simple moving average is $239.67. Cencora, Inc. has a 12 month low of $214.77 and a 12 month high of $270.94.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. As a group, analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.55 per share. The ex-dividend date was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.83%. Cencora’s dividend payout ratio (DPR) is presently 31.29%.

Insider Transactions at Cencora

In other news, CEO Robert P. Mauch sold 4,970 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $255.00, for a total transaction of $1,267,350.00. Following the transaction, the chief executive officer now owns 51,070 shares of the company’s stock, valued at $13,022,850. This represents a 8.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Silvana Battaglia sold 5,000 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the sale, the executive vice president now owns 15,374 shares in the company, valued at $3,724,197.76. This represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,648 shares of company stock valued at $3,382,462 in the last 90 days. 10.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on COR shares. Mizuho started coverage on shares of Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target for the company. Wells Fargo & Company increased their price objective on Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. StockNews.com upgraded Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Evercore ISI increased their price objective on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. increased their price objective on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.20.

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.