Campbell & CO Investment Adviser LLC Boosts Holdings in Cencora, Inc. $COR

Key Points

• Campbell & CO Investment Adviser LLC significantly increased its stake in Cencora, Inc. by 77.8% during the 1st quarter, bringing its holdings to 11,342 shares valued at approximately $3.15 million.
• Several analysts have raised their price targets for Cencora, with Citigroup setting a new target of $355.00, indicating strong positive sentiment around the stock with a consensus rating of "Moderate Buy."
• Cencora recently announced a quarterly dividend of $0.55 per share, which equates to an annualized dividend yield of 0.8%.

Campbell & CO Investment Adviser LLC lifted its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 77.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,342 shares of the company's stock after acquiring an additional 4,962 shares during the period. Campbell & CO Investment Adviser LLC's holdings in Cencora were worth $3,154,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 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 acquiring an additional 48 shares in the last quarter. Hoey Investments Inc. bought a new stake in shares of Cencora during the first quarter worth about $28,000. Costello Asset Management INC bought a new stake in Cencora in the 1st quarter worth about $28,000. Banque Transatlantique SA bought a new stake in Cencora in the 4th quarter worth about $29,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Cencora in the 1st quarter worth about $39,000. 97.52% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Robert P. Mauch sold 4,968 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the sale, the chief executive officer directly owned 42,351 shares in the company, valued at approximately $12,455,852.61. This represents a 10.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Steven H. Collis sold 14,578 shares of the company's stock in a transaction that occurred on 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 sale, the chairman owned 309,913 shares in the company, valued at $90,702,237.71. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,125 shares of company stock worth $9,993,789 over the last 90 days. 10.80% of the stock is currently owned by corporate insiders.

Cencora Stock Performance

Shares of COR stock traded up $1.31 during trading on Tuesday, reaching $289.61. 1,413,672 shares of the company's stock traded hands, compared to its average volume of 1,391,677. The company has a market capitalization of $56.15 billion, a P/E ratio of 29.80, a PEG ratio of 1.37 and a beta of 0.58. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. The firm's 50-day moving average is $293.33 and its 200 day moving average is $281.21. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly 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. The company had revenue of $80.66 billion for the quarter, compared to analysts' expectations of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. Cencora's revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $3.34 EPS. Equities research analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company upped their price objective on shares of 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 price objective on shares of Cencora and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Citigroup upped their price objective on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Jefferies Financial Group upped their price objective on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. Finally, Robert W. Baird upped their price objective on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $311.25.

About Cencora

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.