Cencora, Inc. $COR Position Lifted by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors increased its Cencora stake by 210.8% in the third quarter, bringing its holdings to 22,454 shares valued at $6.74 million. Institutional investors collectively own 97.52% of the company.
• Cencora reported quarterly earnings of $4.48 per share, exceeding estimates by $0.13, while revenue rose 5.1% year over year to $84.75 billion. The company also maintains a quarterly dividend of $0.60 per share, yielding approximately 0.7%.
• Analysts remain broadly positive, with 13 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $372.07 versus the reported share price of $323.59.

Farther Finance Advisors LLC lifted its stake in Cencora, Inc. (NYSE:COR - Free Report) by 210.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,454 shares of the company's stock after purchasing an additional 15,230 shares during the quarter. Farther Finance Advisors LLC's holdings in Cencora were worth $6,742,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CoreCap Advisors LLC boosted its position in shares of Cencora by 5,496.9% during the 3rd quarter. CoreCap Advisors LLC now owns 9,123 shares of the company's stock valued at $2,739,000 after acquiring an additional 8,960 shares during the last quarter. Apella Capital LLC increased its position in Cencora by 139.9% during the third quarter. Apella Capital LLC now owns 2,370 shares of the company's stock worth $712,000 after purchasing an additional 1,382 shares during the last quarter. Everhart Financial Group Inc. increased its position in Cencora by 130.1% during the third quarter. Everhart Financial Group Inc. now owns 9,170 shares of the company's stock worth $2,753,000 after purchasing an additional 5,184 shares during the last quarter. Valeo Financial Advisors LLC increased its position in Cencora by 144.4% during the third quarter. Valeo Financial Advisors LLC now owns 4,514 shares of the company's stock worth $1,355,000 after purchasing an additional 2,667 shares during the last quarter. Finally, Burr Financial Services LLC raised its stake in Cencora by 30.4% during the third quarter. Burr Financial Services LLC now owns 1,714 shares of the company's stock worth $515,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 97.52% of the company's stock.

Cencora Price Performance

COR opened at $323.59 on Friday. The company has a 50-day moving average of $318.47 and a 200-day moving average of $302.85. The company has a market capitalization of $61.75 billion, a P/E ratio of 24.04, a PEG ratio of 1.66 and a beta of 0.58. Cencora, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93.

Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.35 by $0.13. The business had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The company's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.00 EPS. Equities analysts expect that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 14th. Cencora's dividend payout ratio is 17.83%.

Insider Buying and Selling at Cencora

In other news, EVP Elizabeth Campbell sold 11,300 shares of the firm's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the transaction, the executive vice president directly owned 19,455 shares in the company, valued at approximately $6,305,754.60. This trade represents a 36.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

COR has been the topic of a number of analyst reports. UBS Group lifted their target price on shares of Cencora from $412.00 to $430.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. increased their price target on shares of Cencora from $382.00 to $390.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Robert W. Baird set a $370.00 price target on shares of Cencora in a report on Thursday, August 6th. Weiss Ratings upgraded shares of Cencora from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday. Finally, Morgan Stanley lifted their price target on shares of Cencora from $342.00 to $346.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $372.07.

About Cencora

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical solutions company that sources, distributes and supports the delivery of medicines and healthcare products. The company serves pharmaceutical manufacturers, healthcare providers, pharmacies and animal-health customers through its supply-chain and commercialization services.

Its activities include pharmaceutical and specialty-product distribution, manufacturer services, specialty logistics, clinical-trial support, patient-support programs and other services designed to help bring medicines to market and improve access to treatment.

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