Cencora, Inc. $COR Stake Lowered by Counterpoint Mutual Funds LLC

Key Points

• Counterpoint Mutual Funds cut its Cencora stake by 92.6% in the third quarter, selling 26,041 shares and retaining 2,083 shares valued at approximately $625,000. Institutional investors overall 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. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $363.81.
• The company declared a quarterly dividend of $0.60 per share, equivalent to $2.40 annually and a 0.7% yield. Shares opened at $340.54, with a 52-week range of $244.82 to $377.54.

Counterpoint Mutual Funds LLC cut its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 92.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,083 shares of the company's stock after selling 26,041 shares during the quarter. Counterpoint Mutual Funds LLC's holdings in Cencora were worth $625,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Cencora during the second quarter worth $5,154,136,000. Bank of America Corp DE acquired a new position in Cencora in the second quarter valued at about $1,056,625,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Cencora in the second quarter valued at about $483,772,000. Legal & General Group Plc bought a new position in Cencora during the second quarter worth about $339,556,000. Finally, The Manufacturers Life Insurance Company bought a new position in Cencora during the second quarter worth about $313,668,000. Institutional investors and hedge funds own 97.52% of the company's stock.

Insider Activity at Cencora

In other news, EVP Elizabeth Campbell sold 11,300 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $6,305,754.60. This represents a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is currently owned by company insiders.

Cencora Stock Down 0.1%

Cencora stock opened at $340.54 on Monday. The stock has a market capitalization of $64.99 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 1.75 and a beta of 0.58. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. The company has a 50 day moving average of $320.38 and a 200-day moving average of $303.30.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping 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 firm's quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the business posted $4.00 earnings per share. On average, equities research analysts anticipate that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on COR shares. Leerink Partners increased their price target on shares of Cencora from $380.00 to $388.00 and gave the company an "outperform" rating in a research report on Wednesday, October 7th. Weiss Ratings upgraded shares of Cencora from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, October 6th. Morgan Stanley boosted their price objective on shares of Cencora from $342.00 to $346.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Evercore reaffirmed an "outperform" rating and issued a $350.00 target price (up from $330.00) on shares of Cencora in a research note on Thursday, August 6th. Finally, Bank of America increased their target price on shares of Cencora from $285.00 to $310.00 in a report on Tuesday, July 21st. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cencora presently has a consensus rating of "Moderate Buy" and an average target price of $363.81.

Cencora Company Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical sourcing and distribution company. It provides branded, generic and specialty pharmaceuticals, over-the-counter products and related health care supplies to pharmacies, hospitals, health systems, physician practices and other health care providers.

The company also offers services to pharmaceutical and biotechnology manufacturers, including logistics, commercialization support, market access, consulting, clinical trial support and patient assistance programs.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.