ASR Vermogensbeheer N.V. Acquires Shares of 22,648 Cencora, Inc. (NYSE:COR)

Key Points

• ASR Vermogensbeheer N.V. made a new investment in Cencora, Inc., acquiring 22,648 shares valued at approximately $6.30 million.
• Cencora recently topped analysts' estimates with an EPS of $4.00 for the quarter, contributing to a revenue of $80.66 billion.
• Brokerages have raised their price targets for Cencora, with Citigroup increasing its target to $355.00 and maintaining a "buy" rating.

ASR Vermogensbeheer N.V. acquired a new position in Cencora, Inc. (NYSE:COR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 22,648 shares of the company's stock, valued at approximately $6,298,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Exchange Traded Concepts LLC raised its stake in shares of Cencora by 4.5% in the first quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company's stock valued at $307,000 after buying an additional 48 shares during the period. Dynamic Advisor Solutions LLC increased its holdings in Cencora by 6.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 1,535 shares of the company's stock worth $427,000 after acquiring an additional 93 shares during the last quarter. GAMMA Investing LLC raised its stake in Cencora by 57.0% in the 1st quarter. GAMMA Investing LLC now owns 5,748 shares of the company's stock valued at $1,598,000 after acquiring an additional 2,087 shares during the period. Golden State Wealth Management LLC boosted its position in Cencora by 157.6% during the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock worth $47,000 after purchasing an additional 104 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. increased its stake in shares of Cencora by 5.2% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 82,952 shares of the company's stock worth $18,638,000 after purchasing an additional 4,126 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on COR shares. Citigroup upped their price target on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Morgan Stanley set a $330.00 price target on Cencora and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Robert W. Baird increased their price objective on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, Bank of America upped their price target on Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research report on Friday, April 11th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $309.83.

Insider Buying and Selling

In other news, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction dated 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 owned 42,351 shares in the company, valued at approximately $12,455,852.61. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total value of $4,266,106.98. Following the sale, the chairman owned 311,913 shares of the company's stock, valued at $91,271,982.06. This represents a 4.47% 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 worth $9,993,789 over the last quarter. Company insiders own 10.80% of the company's stock.

Cencora Price Performance

Shares of NYSE:COR traded up $7.06 during trading on Friday, reaching $285.46. The company had a trading volume of 1,106,201 shares, compared to its average volume of 1,099,116. The company has a fifty day moving average of $292.51 and a two-hundred day moving average of $277.58. The company has a current ratio of 0.90, a quick ratio of 0.52 and a debt-to-equity ratio of 3.64. The stock has a market capitalization of $55.33 billion, a P/E ratio of 29.37, a price-to-earnings-growth ratio of 1.36 and a beta of 0.58. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35.

Cencora (NYSE:COR - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, beating analysts' consensus estimates of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%. The business had revenue of $80.66 billion for the quarter, compared to analysts' expectations of $80.34 billion. During the same quarter in the prior year, the firm earned $3.34 earnings per share. The firm's revenue was up 8.7% on a year-over-year basis. Equities research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, August 15th. Cencora's dividend payout ratio (DPR) is presently 22.63%.

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.