Cencora, Inc. $COR Stock Acquired by Mather Group LLC.

Key Points

• Mather Group LLC increased its Cencora stake by 119% during the third quarter, bringing its holdings to 6,227 shares valued at approximately $1.87 million. Institutional investors collectively own 97.52% of the company.
• Cencora reported quarterly adjusted earnings of $4.48 per share and revenue of $84.75 billion, exceeding analyst expectations; revenue rose 5.1% year over year.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $363.81. Cencora also pays a quarterly dividend of $0.60 per share, equivalent to a 0.7% yield.

Mather Group LLC. raised its stake in Cencora, Inc. (NYSE:COR - Free Report) by 119.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,227 shares of the company's stock after buying an additional 3,383 shares during the period. Mather Group LLC.'s holdings in Cencora were worth $1,870,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Cencora during the 2nd quarter worth $5,154,136,000. T. Rowe Price Investment Management Inc. increased its stake in Cencora by 160.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company's stock valued at $2,262,956,000 after acquiring an additional 4,123,795 shares during the last quarter. Bank of America Corp DE increased its stake in Cencora by 6.9% in the first quarter. Bank of America Corp DE now owns 4,138,388 shares of the company's stock valued at $1,300,033,000 after acquiring an additional 267,318 shares during the last quarter. Amundi increased its stake in Cencora by 43.5% in the second quarter. Amundi now owns 2,229,326 shares of the company's stock valued at $630,855,000 after acquiring an additional 676,066 shares during the last quarter. Finally, Carmignac Gestion raised its position in Cencora by 58.7% during the second quarter. Carmignac Gestion now owns 1,747,363 shares of the company's stock valued at $494,463,000 after purchasing an additional 646,112 shares in the last quarter. Institutional investors own 97.52% of the company's stock.

Cencora Trading Down 0.3%

Shares of COR stock traded down $0.87 on Friday, hitting $340.54. 1,978,868 shares of the company's stock traded hands, compared to its average volume of 1,282,490. The stock has a market capitalization of $64.99 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 1.75 and a beta of 0.58. The company's fifty day simple moving average is $320.38 and its 200 day simple moving average is $303.34. Cencora, Inc. has a one year low of $244.82 and a one 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 EPS for the quarter, topping analysts' consensus estimates of $4.35 by $0.13. The company had revenue of $84.75 billion for the quarter, compared to analysts' expectations of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The firm's revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.00 EPS. Equities analysts forecast that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have issued reports on COR shares. Evercore reaffirmed an "outperform" rating and set a $350.00 price target (up from $330.00) on shares of Cencora in a research note on Thursday, August 6th. Wells Fargo & Company upped their price objective on Cencora from $331.00 to $395.00 and gave the stock an "overweight" rating in a report on Tuesday, August 11th. UBS Group reduced their price objective on Cencora from $430.00 to $400.00 and set a "buy" rating on the stock in a research report on Friday. Morgan Stanley raised their price objective on Cencora from $342.00 to $346.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Finally, Citigroup reissued a "buy" rating on shares of Cencora in a report on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $363.81.

Insider Activity at Cencora

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

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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