Caxton Associates LLP Acquires New Holdings in Cencora, Inc. $COR

Key Points

• Caxton Associates LLP has acquired a new stake in Cencora, Inc., purchasing 7,520 shares valued at approximately $2,091,000 during the first quarter.
• Cencora announced a quarterly dividend of $0.55 per share, with a dividend yield of 0.7%, reflecting its commitment to returning value to shareholders.
• Equities analysts have rated Cencora with a consensus target price of $311.25, indicating a generally positive outlook, with nine analysts recommending a "Buy."

Caxton Associates LLP acquired a new stake in Cencora, Inc. (NYSE:COR - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 7,520 shares of the company's stock, valued at approximately $2,091,000.

Several other hedge funds have also recently bought and sold shares of COR. Bernard Wealth Management Corp. bought a new stake in Cencora in the 4th quarter valued at about $67,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Cencora by 28.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,407 shares of the company's stock valued at $1,215,000 after purchasing an additional 1,201 shares during the last quarter. Ethic Inc. lifted its position in Cencora by 11.0% in the 4th quarter. Ethic Inc. now owns 9,536 shares of the company's stock valued at $2,143,000 after purchasing an additional 945 shares during the last quarter. Jefferies Financial Group Inc. increased its stake in Cencora by 61.6% during the 4th quarter. Jefferies Financial Group Inc. now owns 9,375 shares of the company's stock valued at $2,106,000 after buying an additional 3,574 shares during the period. Finally, Lighthouse Investment Partners LLC acquired a new position in Cencora during the 4th quarter valued at about $2,112,000. 97.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on COR shares. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company raised their target price on shares of Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Finally, Jefferies Financial Group raised their target price on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, June 30th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Cencora has an average rating of "Moderate Buy" and a consensus price target of $311.25.

Cencora Stock Performance

Shares of COR opened at $297.64 on Tuesday. The firm's 50 day moving average is $292.81 and its 200-day moving average is $284.56. The stock has a market capitalization of $57.71 billion, a P/E ratio of 30.62, a P/E/G ratio of 1.39 and a beta of 0.62. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. 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 announced its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The business's revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.34 EPS. Equities research analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Cencora's dividend payout ratio (DPR) is 22.63%.

Insider Activity at Cencora

In other news, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction that occurred on 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 transaction, the chairman directly owned 311,913 shares of the company's stock, valued at $91,271,982.06. This trade represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the completion of the transaction, the chief executive officer directly owned 42,351 shares in the company, valued at approximately $12,455,852.61. This trade represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,125 shares of company stock worth $9,993,789. 10.80% of the stock is currently owned by insiders.

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.

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