Cheviot Value Management LLC Buys Shares of 1,788 Cencora, Inc. (NYSE:COR)

Key Points

• Cheviot Value Management LLC acquired 1,788 shares of Cencora, Inc. (NYSE:COR), valued at approximately $522,000, marking a significant investment in the company during the 1st quarter.
• Analyst ratings for Cencora have generally improved, with multiple firms raising their target prices; the consensus rating is now a “Moderate Buy” with a target price of $309.83.
• Cencora has reported a 10.3% year-over-year increase in revenue and a net margin of 0.55%, highlighting its recent financial performance amidst broader market developments.

Cheviot Value Management LLC purchased a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,788 shares of the company's stock, valued at approximately $522,000.

Several other hedge funds have also recently modified their holdings of the stock. Franklin Resources Inc. increased its position in shares of Cencora by 1.9% in the fourth quarter. Franklin Resources Inc. now owns 211,076 shares of the company's stock valued at $47,425,000 after buying an additional 3,945 shares in the last quarter. Arete Wealth Advisors LLC grew its holdings in Cencora by 6.3% in the 4th quarter. Arete Wealth Advisors LLC now owns 2,565 shares of the company's stock valued at $576,000 after buying an additional 153 shares during the period. Resona Asset Management Co. Ltd. purchased a new stake in Cencora in the 4th quarter valued at about $19,050,000. Rhenman & Partners Asset Management AB lifted its stake in shares of Cencora by 19.0% in the 4th quarter. Rhenman & Partners Asset Management AB now owns 53,750 shares of the company's stock valued at $12,077,000 after purchasing an additional 8,600 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Cencora by 0.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 589,072 shares of the company's stock valued at $132,353,000 after purchasing an additional 3,546 shares in the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Stock Performance

NYSE:COR traded down $8.16 on Thursday, hitting $275.62. The company's stock had a trading volume of 518,661 shares, compared to its average volume of 1,564,964. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01. The stock has a fifty day moving average of $292.87 and a two-hundred day moving average of $277.05. The firm has a market capitalization of $53.42 billion, a P/E ratio of 31.96, a price-to-earnings-growth ratio of 1.45 and a beta of 0.58. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35.

Cencora (NYSE:COR - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, beating the consensus estimate of $3.79 by $0.21. The company had revenue of $80.66 billion for the quarter, compared to the consensus estimate of $80.34 billion. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The firm's revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.34 earnings per share. Research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.8%. Cencora's payout ratio is presently 25.52%.

Analyst Upgrades and Downgrades

COR has been the subject of a number of research analyst reports. UBS Group boosted their price target on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Citigroup increased their price target on Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Bank of America raised their target price on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Finally, Jefferies Financial Group lifted their target price on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, June 30th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Cencora currently has a consensus rating of "Moderate Buy" and a consensus price target of $309.83.

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 14,578 shares of the stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $292.67, for a total value of $4,266,543.26. Following the completion of the transaction, the chairman directly owned 309,913 shares in the company, valued at approximately $90,702,237.71. This represents a 4.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert P. Mauch sold 4,968 shares of the firm's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $294.11, for a total value of $1,461,138.48. Following the transaction, the chief executive officer directly owned 42,351 shares of the company's stock, valued at approximately $12,455,852.61. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,125 shares of company stock valued at $9,993,789 over the last 90 days. Corporate insiders own 10.80% of the company's stock.

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.