Tidal Investments LLC Sells 11,126 Shares of Cencora, Inc. $COR

Tidal Investments LLC reduced its stake in shares of Cencora, Inc. (NYSE:COR) by 28.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,973 shares of the company’s stock after selling 11,126 shares during the quarter. Tidal Investments LLC’s holdings in Cencora were worth $7,916,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Kemnay Advisory Services Inc. bought a new stake in Cencora during the 4th quarter valued at about $25,000. Elyxium Wealth LLC bought a new position in Cencora in the 4th quarter worth about $27,000. Elevation Wealth Partners LLC grew its stake in Cencora by 506.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock worth $27,000 after acquiring an additional 81 shares in the last quarter. Bell Investment Advisors Inc purchased a new position in shares of Cencora during the second quarter worth approximately $28,000. Finally, Caitlin John LLC purchased a new position in shares of Cencora during the second quarter worth approximately $28,000. 97.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on COR. Robert W. Baird set a $370.00 price target on Cencora in a report on Thursday, August 6th. Citigroup restated a “buy” rating on shares of Cencora in a report on Thursday, August 6th. Weiss Ratings raised Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. UBS Group upped their target price on Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. increased their price target on Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $370.85.

Insiders Place Their Bets

In other Cencora news, EVP Elizabeth S. Campbell sold 11,300 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the completion of the transaction, the executive vice president directly owned 19,455 shares in the company, valued at approximately $6,305,754.60. The trade was a 36.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lauren M. Tyler purchased 550 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were purchased at an average cost of $270.23 per share, with a total value of $148,626.50. Following the completion of the transaction, the director owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. The trade was a 14.44% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.38% of the company’s stock.

Cencora Price Performance

NYSE COR opened at $321.44 on Friday. The company has a market cap of $61.34 billion, a PE ratio of 23.88, a P/E/G ratio of 1.82 and a beta of 0.57. The firm’s 50 day moving average price is $315.82 and its 200-day moving average price is $308.62. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. Cencora, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping analysts’ consensus estimates of $4.35 by $0.13. The company had revenue of $84.75 billion during the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. Cencora’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.00 earnings per share. Sell-side analysts forecast that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 14th. Cencora’s payout ratio is presently 17.83%.

Cencora announced that its board has approved a share buyback plan on Thursday, May 21st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Cencora Profile

Cencora, Inc (NYSE:COR) is a global healthcare company that provides pharmaceutical sourcing, distribution and related services. The company connects biopharmaceutical manufacturers with pharmacies, hospitals, health systems, physician practices and other healthcare providers, helping move prescription medicines and healthcare products through the supply chain.

Cencora’s operations include pharmaceutical distribution, specialty pharmaceutical services, manufacturer support and patient-centered solutions.