Jackson Wealth Management LLC Sells 26,240 Shares of Cencora, Inc. $COR

Jackson Wealth Management LLC lessened its stake in Cencora, Inc. (NYSE:COR) by 91.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,404 shares of the company’s stock after selling 26,240 shares during the quarter. Jackson Wealth Management LLC’s holdings in Cencora were worth $680,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Cencora in the second quarter valued at $5,154,136,000. T. Rowe Price Investment Management Inc. increased its stake in shares of Cencora by 160.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock worth $2,262,956,000 after purchasing an additional 4,123,795 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Cencora in the 2nd quarter valued at about $1,056,625,000. Norges Bank bought a new stake in shares of Cencora in the 4th quarter valued at about $822,506,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Cencora in the 2nd quarter valued at about $483,772,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cencora

In related news, EVP Elizabeth S. Campbell sold 11,300 shares of the company’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 transaction, the executive vice president directly owned 19,455 shares in the company, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lauren M. Tyler purchased 550 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the transaction, the director owned 4,359 shares of the company’s stock, valued at $1,177,932.57. This trade represents a 14.44% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.38% of the stock is owned by company insiders.

Analysts Set New Price Targets

COR has been the subject of a number of research analyst reports. Robert W. Baird set a $370.00 price target on Cencora in a report on Thursday, August 6th. Evercore reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of Cencora in a research report on Thursday, August 6th. UBS Group lifted their target price on Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Royal Bank Of Canada began coverage on Cencora in a report on Wednesday, August 19th. They set a “sector perform” rating and a $330.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their price target on Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and a consensus target price of $370.85.

Cencora Trading Up 0.5%

Shares of COR stock opened at $323.63 on Tuesday. Cencora, Inc. has a 12-month low of $244.82 and a 12-month high of $377.54. The company has a market capitalization of $61.76 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 1.85 and a beta of 0.57. The firm has a 50 day moving average price of $308.43 and a two-hundred day moving average price of $310.25. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, topping analysts’ consensus estimates of $4.35 by $0.13. The company had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.00 earnings per share. As a group, analysts predict that Cencora, Inc. will post 17.87 earnings per share for the current year.

Cencora declared that its Board of Directors has initiated a share buyback program on Thursday, May 21st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were given a dividend of $0.60 per share. The ex-dividend date was Friday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.7%. Cencora’s dividend payout ratio (DPR) is presently 17.83%.

Cencora Profile

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.