Baldwin Investment Management LLC Buys Shares of 3,858 Cencora, Inc. (NYSE:COR)

Key Points

• Baldwin Investment Management LLC invested approximately $1.07 million in Cencora, Inc. by acquiring 3,858 shares in the first quarter, signaling increased institutional interest in the stock.
• Multiple research analysts have raised their target prices for Cencora, with UBS Group increasing it from $298 to $335, and Citigroup raising it from $330 to $355, contributing to a consensual "Moderate Buy" rating for the stock.
• Cencora reported a quarterly earnings per share (EPS) of $4.42, exceeding analysts' expectations, and has announced a quarterly dividend of $0.55, reflecting a 0.76% annual yield.

Baldwin Investment Management LLC acquired a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,858 shares of the company's stock, valued at approximately $1,073,000.

A number of other institutional investors have also recently bought and sold shares of COR. Exchange Traded Concepts LLC raised its holdings in Cencora by 4.5% during 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 in the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in shares of 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 in the last quarter. GAMMA Investing LLC lifted its holdings in Cencora by 57.0% during the 1st quarter. GAMMA Investing LLC now owns 5,748 shares of the company's stock worth $1,598,000 after buying an additional 2,087 shares in the last quarter. Westpac Banking Corp lifted its holdings in Cencora by 13.5% during the 4th quarter. Westpac Banking Corp now owns 21,895 shares of the company's stock worth $4,919,000 after buying an additional 2,596 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its position in shares of Cencora by 157.6% during the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock valued at $47,000 after acquiring an additional 104 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Analyst Ratings Changes

COR has been the subject of a number of recent analyst reports. Robert W. Baird upped their price objective on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Bank of America raised their price objective on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $274.00 to $337.00 in a report on Tuesday, June 3rd. Finally, Jefferies Financial Group upped their price objective on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a report on Monday, June 30th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $309.83.

Cencora Stock Performance

Cencora stock traded down $4.31 during mid-day trading on Thursday, reaching $287.50. The company's stock had a trading volume of 568,389 shares, compared to its average volume of 1,568,847. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $309.35. The company has a market capitalization of $55.72 billion, a P/E ratio of 33.30, a PEG ratio of 1.44 and a beta of 0.57. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.52 and a current ratio of 0.87. The firm's fifty day moving average price is $293.13 and its two-hundred day moving average price is $275.35.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.07 by $0.35. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The company had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. During the same quarter last year, the business posted $3.80 earnings per share. The firm's revenue was up 10.3% compared to the same quarter last year. Sell-side analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Friday, May 16th. Cencora's dividend payout ratio is currently 25.52%.

Insider Buying and Selling at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,968 shares of the business's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $294.11, for a total value of $1,461,138.48. Following the completion of the sale, the chief executive officer directly owned 42,351 shares of the company's stock, valued at $12,455,852.61. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Steven H. Collis sold 14,578 shares of the business's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total transaction of $4,266,543.26. Following the completion of the transaction, the chairman owned 309,913 shares in the company, valued at $90,702,237.71. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,125 shares of company stock valued at $9,993,789 over the last three months. 10.80% of the stock is currently owned by 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.