Ballentine Partners LLC Increases Holdings in Cencora, Inc. $COR

Key Points

• Ballentine Partners LLC increased its holdings in Cencora, Inc. by 14.0% during the second quarter, owning 10,198 shares valued at approximately $3,058,000.
• Analysts have raised Cencora's target price, with Wells Fargo increasing it from $337.00 to $354.00 and maintaining an "overweight" rating.
• Cencora has announced a quarterly dividend of $0.55 per share, resulting in an annual yield of 0.7%, with a payout ratio of 22.63%.

Ballentine Partners LLC grew its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 14.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,198 shares of the company's stock after buying an additional 1,255 shares during the period. Ballentine Partners LLC's holdings in Cencora were worth $3,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of COR. Cornerstone Planning Group LLC increased its position in shares of Cencora by 106.7% during the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after purchasing an additional 48 shares in the last quarter. Hoey Investments Inc. acquired a new stake in shares of Cencora during the first quarter worth about $28,000. Costello Asset Management INC acquired a new stake in shares of Cencora during the first quarter worth about $28,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Cencora during the first quarter worth about $39,000. Finally, Golden State Wealth Management LLC increased its position in shares of 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 in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Morgan Stanley set a $330.00 target price on Cencora and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Jefferies Financial Group lifted their target price on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Cencora presently has an average rating of "Moderate Buy" and a consensus target price of $311.25.

Cencora Stock Performance

Shares of COR stock opened at $308.33 on Thursday. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $309.64. The stock's 50-day moving average price is $292.62 and its 200 day moving average price is $287.78. The stock has a market capitalization of $59.78 billion, a PE ratio of 31.72, a price-to-earnings-growth ratio of 1.54 and a beta of 0.62. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share 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 company had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. During the same quarter in the previous year, the company earned $3.34 EPS. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, equities research analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Cencora's payout ratio is currently 22.63%.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 31,350 shares of Cencora stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total value of $9,087,111.00. Following the sale, the chairman owned 305,913 shares of the company's stock, valued at approximately $88,671,942.18. The trade was a 9.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert P. Mauch sold 5,097 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $290.00, for a total value of $1,478,130.00. Following the sale, the chief executive officer directly owned 39,274 shares in the company, valued at $11,389,460. This trade represents a 11.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,993 shares of company stock worth $16,292,923 in the last ninety days. 10.80% of the stock is owned by corporate 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.

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