Cencora, Inc. $COR Position Raised by CoreCap Advisors LLC

Key Points

• CoreCap Advisors significantly increased its Cencora position by 5,496.9% in the third quarter, ending with 9,123 shares valued at approximately $2.74 million. Institutional investors collectively own 97.52% of the company.
• Cencora reported quarterly earnings of $4.48 per share, beating estimates of $4.35, while revenue rose 5.1% year over year to $84.75 billion. The company also pays a quarterly dividend of $0.60 per share, equivalent to a 0.7% yield.
• Wall Street sentiment remains positive, with 13 analysts rating the stock a Buy and three issuing Holds. The consensus target price is $372.07, compared with shares opening at $321.16.

CoreCap Advisors LLC grew its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 5,496.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,123 shares of the company's stock after acquiring an additional 8,960 shares during the quarter. CoreCap Advisors LLC's holdings in Cencora were worth $2,739,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in COR. Elevation Wealth Partners LLC raised its holdings in Cencora by 506.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company's stock valued at $27,000 after buying an additional 81 shares during the last quarter. Bell Investment Advisors Inc bought a new stake in Cencora in the 2nd quarter worth $28,000. Caitlin John LLC bought a new stake in Cencora in the 2nd quarter worth $28,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Cencora in the first quarter valued at about $35,000. Finally, Western Wealth Management LLC purchased a new position in shares of Cencora in the first quarter valued at about $49,000. 97.52% of the stock is owned by institutional investors.

Cencora Stock Performance

Shares of COR opened at $321.16 on Friday. The firm has a market capitalization of $61.29 billion, a P/E ratio of 23.86, a PEG ratio of 1.63 and a beta of 0.58. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. Cencora, Inc. has a one year low of $244.82 and a one year high of $377.54. The business has a fifty day moving average of $318.25 and a 200 day moving average of $302.71.

Cencora (NYSE:COR - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.35 by $0.13. The business had revenue of $84.75 billion for the quarter, compared to analysts' expectations of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The business's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the firm posted $4.00 earnings per share. As a group, sell-side analysts anticipate that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 14th. Cencora's payout ratio is currently 17.83%.

Insider Buying and Selling

In related news, EVP Elizabeth Campbell sold 11,300 shares of the business's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the transaction, the executive vice president directly owned 19,455 shares in the company, valued at approximately $6,305,754.60. The trade was a 36.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.38% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

COR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on Cencora from $382.00 to $390.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $330.00 price objective on shares of Cencora in a research report on Tuesday, September 8th. Bank of America boosted their target price on Cencora from $280.00 to $285.00 and gave the company a "neutral" rating in a research note on Wednesday, June 24th. Morgan Stanley upped their price objective on shares of Cencora from $342.00 to $346.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Finally, UBS Group lifted their target price on shares of Cencora from $412.00 to $430.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price 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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