Belmont Capital LLC Has $30.34 Million Stock Position in Cencora, Inc. $COR

Key Points

• Belmont Capital LLC increased its stake in Cencora, Inc. by 23.5%, making it the 5th largest position in its portfolio, now holding 109,100 shares valued at approximately $30.34 million.
• Several institutional investors have significantly boosted their positions in Cencora, with Cornerstone Planning Group LLC increasing its stake by 106.7% during the first quarter.
• Cencora reported earnings of $4.00 per share in its latest quarterly results, exceeding expectations and revealing an 8.7% year-over-year revenue growth to $80.66 billion.

Belmont Capital LLC boosted its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 23.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 109,100 shares of the company's stock after acquiring an additional 20,750 shares during the period. Cencora accounts for about 5.4% of Belmont Capital LLC's investment portfolio, making the stock its 5th largest position. Belmont Capital LLC owned about 0.06% of Cencora worth $30,340,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its stake in Cencora by 106.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock valued at $26,000 after acquiring an additional 48 shares during the last quarter. Hoey Investments Inc. purchased a new position in shares of Cencora during the 1st quarter worth about $28,000. Costello Asset Management INC purchased a new position in shares of Cencora during the 1st quarter worth about $28,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Cencora during the 1st quarter worth about $39,000. Finally, Vermillion Wealth Management Inc. purchased a new position in shares of Cencora during the 4th quarter worth about $38,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Price Performance

Shares of COR stock traded down $0.18 during trading hours on Friday, hitting $292.52. 1,012,863 shares of the company's stock were exchanged, compared to its average volume of 1,275,659. The stock's 50-day moving average is $292.84 and its 200-day moving average is $283.88. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. The stock has a market cap of $56.71 billion, a price-to-earnings ratio of 30.09, a price-to-earnings-growth ratio of 1.39 and a beta of 0.62. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35.

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

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.20 annualized dividend and a yield of 0.8%. Cencora's dividend payout ratio is presently 22.63%.

Insider Activity

In other news, CEO Robert P. Mauch sold 4,968 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer owned 42,351 shares of the company's stock, valued at $12,455,852.61. This trade represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total value of $4,266,106.98. Following the transaction, the chairman owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. The trade was a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,125 shares of company stock worth $9,993,789 in the last three months. Insiders own 10.80% of the company's stock.

Analyst Upgrades and Downgrades

COR has been the topic of several research reports. Wells Fargo & Company raised their price target on shares of Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Jefferies Financial Group boosted their price target 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, Morgan Stanley set a $330.00 price target on Cencora and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $311.25.

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.