Cencora, Inc. $COR Position Boosted by Kathmere Capital Management LLC

Key Points

• Kathmere Capital Management LLC increased its stake in Cencora, Inc. by 42.3%, now owning 3,265 shares valued at approximately $979,000.
• Analysts have raised their price targets for Cencora, with Wells Fargo increasing theirs to $354.00 and Jefferies to $300.00, reflecting strong overall ratings with a consensus of "Moderate Buy."
• Cencora reported earnings of $4.00 per share for the last quarter, surpassing estimates and demonstrating an 8.7% revenue increase year-over-year.

Kathmere Capital Management LLC lifted its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 42.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,265 shares of the company's stock after purchasing an additional 970 shares during the period. Kathmere Capital Management LLC's holdings in Cencora were worth $979,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Cornerstone Planning Group LLC raised its stake in 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 during the period. Hoey Investments Inc. acquired a new stake in Cencora during the first quarter worth about $28,000. Costello Asset Management INC acquired a new stake in Cencora during the first quarter worth about $28,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Cencora during the first quarter worth about $39,000. Finally, Golden State Wealth Management LLC raised its stake in 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 acquiring an additional 104 shares during the period. Institutional investors own 97.52% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Jefferies Financial Group raised their price target 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. Finally, Morgan Stanley set a $330.00 price target on shares of Cencora and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $311.25.

Cencora Trading Up 2.7%

Cencora stock opened at $306.94 on Friday. The company has a 50 day moving average price of $293.00 and a 200 day moving average price of $288.59. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $310.00. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. The firm has a market capitalization of $59.51 billion, a price-to-earnings ratio of 31.58, a P/E/G ratio of 1.56 and a beta of 0.62.

Cencora (NYSE:COR - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The company had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. During the same quarter in the prior year, the firm earned $3.34 EPS. The company's revenue was up 8.7% compared to the same quarter last year. Research analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

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

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 31,350 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total value of $9,087,111.00. Following the completion of the sale, the chairman directly owned 305,913 shares of the company's stock, valued at $88,671,942.18. The trade was a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Robert P. Mauch sold 5,097 shares of the firm's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the transaction, the chief executive officer owned 39,274 shares in the company, valued at $11,389,460. This represents a 11.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,993 shares of company stock valued at $16,292,923 over the last three months. Insiders own 10.80% of the company's stock.

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.

Want to see what other hedge funds are holding COR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cencora, Inc. (NYSE:COR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.