Steele Capital Management Inc. Invests $409,000 in Cencora, Inc. (NYSE:COR)

Steele Capital Management Inc. acquired a new stake in shares of Cencora, Inc. (NYSE:COR) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,685 shares of the company’s stock, valued at approximately $409,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Oak Thistle LLC bought a new position in shares of Cencora during the first quarter valued at approximately $262,000. Park Place Capital Corp bought a new position in Cencora during the 1st quarter worth $46,000. Silvia Mccoll Wealth Management LLC acquired a new stake in Cencora in the first quarter worth $211,000. Claro Advisors LLC bought a new stake in Cencora in the first quarter valued at $278,000. Finally, Diversified Trust Co bought a new stake in Cencora in the first quarter valued at $11,714,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Transactions at Cencora

In related news, CEO Steven H. Collis sold 10,754 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the completion of the sale, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at $67,702,698.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Steven H. Collis sold 10,754 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the completion of the sale, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at $67,702,698.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dermot Mark Durcan purchased 500 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was bought at an average price of $218.58 per share, with a total value of $109,290.00. Following the transaction, the director now directly owns 21,876 shares in the company, valued at $4,781,656.08. The disclosure for this purchase can be found here. Insiders have sold 1,956,675 shares of company stock valued at $422,352,056 in the last quarter. Insiders own 15.80% of the company’s stock.

Cencora Price Performance

NYSE:COR traded down $1.72 during midday trading on Monday, hitting $223.58. 1,723,139 shares of the stock were exchanged, compared to its average volume of 1,409,780. The company has a market capitalization of $44.59 billion, a price-to-earnings ratio of 24.46, a P/E/G ratio of 1.57 and a beta of 0.45. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.41. Cencora, Inc. has a one year low of $171.65 and a one year high of $246.75. The business has a 50-day moving average price of $228.85 and a two-hundred day moving average price of $228.32.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $3.80 EPS for the quarter, topping analysts’ consensus estimates of $3.65 by $0.15. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The company had revenue of $68.41 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the previous year, the business earned $3.50 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Sell-side analysts predict that Cencora, Inc. will post 13.44 EPS for the current year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were given a dividend of $0.51 per share. The ex-dividend date was Thursday, May 9th. This represents a $2.04 annualized dividend and a dividend yield of 0.91%. Cencora’s dividend payout ratio (DPR) is 22.32%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on COR shares. Robert W. Baird increased their price objective on shares of Cencora from $275.00 to $277.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. SVB Leerink restated an “outperform” rating and issued a $275.00 price target on shares of Cencora in a research note on Thursday. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Finally, Citigroup increased their price objective on Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $235.30.

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.