Thrivent Financial for Lutherans Buys 54,949 Shares of Cencora, Inc. (NYSE:COR)

Thrivent Financial for Lutherans grew its stake in Cencora, Inc. (NYSE:COR) by 176.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,007 shares of the company’s stock after buying an additional 54,949 shares during the period. Thrivent Financial for Lutherans’ holdings in Cencora were worth $19,377,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in COR. Financial Advocates Investment Management raised its stake in shares of Cencora by 4.7% during the second quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock worth $220,000 after acquiring an additional 44 shares in the last quarter. Checchi Capital Advisers LLC raised its position in Cencora by 2.2% in the 2nd quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock worth $499,000 after purchasing an additional 48 shares during the period. Valeo Financial Advisors LLC lifted its stake in Cencora by 3.4% in the second quarter. Valeo Financial Advisors LLC now owns 1,566 shares of the company’s stock worth $353,000 after purchasing an additional 51 shares during the last quarter. Barlow Wealth Partners Inc. boosted its position in Cencora by 5.4% during the second quarter. Barlow Wealth Partners Inc. now owns 1,339 shares of the company’s stock valued at $303,000 after buying an additional 68 shares during the period. Finally, Tevis Investment Management grew its stake in shares of Cencora by 4.9% during the second quarter. Tevis Investment Management now owns 1,476 shares of the company’s stock valued at $333,000 after buying an additional 69 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

Cencora Price Performance

Shares of NYSE COR opened at $225.39 on Wednesday. Cencora, Inc. has a 1 year low of $178.21 and a 1 year high of $247.66. The stock has a market capitalization of $44.95 billion, a P/E ratio of 24.66, a P/E/G ratio of 1.55 and a beta of 0.44. The company’s 50-day moving average is $234.97 and its 200 day moving average is $232.95. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.16. The firm had revenue of $74.20 billion during the quarter, compared to analyst estimates of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. During the same quarter in the prior year, the company earned $2.92 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts expect that Cencora, Inc. will post 13.63 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date was Friday, August 9th. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on COR shares. Bank of America restated a “neutral” rating and set a $245.00 target price (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Wells Fargo & Company increased their price objective on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. lifted their target price on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Robert W. Baird cut their price target on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a report on Friday, September 6th. Finally, StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Cencora presently has a consensus rating of “Moderate Buy” and an average target price of $256.67.

Insider Transactions at Cencora

In related news, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the transaction, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the transaction, the executive vice president now owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the completion of the sale, the insider now directly owns 19,980,000 shares in the company, valued at $4,806,388,800. The disclosure for this sale can be found here. Insiders have sold 4,450,399 shares of company stock valued at $1,070,392,799 in the last three months. 15.80% of the stock is currently owned by company insiders.

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.