Cencora, Inc. $COR Stock Position Boosted by Monument Capital Management

Key Points

• Monument Capital Management increased its Cencora stake by 237.6% in the third quarter, bringing its holdings to 5,995 shares valued at approximately $1.8 million. Institutional investors collectively own 97.52% of the company.
• Cencora exceeded quarterly expectations, reporting $4.48 in earnings per share on $84.75 billion in revenue, with revenue up 5.1% year over year. The company also pays a quarterly dividend of $0.60 per share, yielding about 0.7%.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $372.07, compared with the reported share price of $321.16.

Monument Capital Management grew its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 237.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,995 shares of the company's stock after acquiring an additional 4,219 shares during the period. Monument Capital Management's holdings in Cencora were worth $1,800,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Deutsche Bank AG purchased a new stake in Cencora during the second quarter worth $286,673,000. ExodusPoint Capital Management LP purchased a new position in shares of Cencora in the 4th quarter valued at $16,487,000. Impact Partnership Wealth LLC bought a new position in shares of Cencora in the 1st quarter worth $1,170,000. SEB Asset Management AB bought a new position in shares of Cencora in the 1st quarter worth $134,139,000. Finally, Wedge Capital Management L L P NC lifted its stake in shares of Cencora by 31.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 105,614 shares of the company's stock worth $29,887,000 after purchasing an additional 24,968 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Trading Up 1.2%

Shares of NYSE:COR opened at $321.16 on Friday. The business's 50-day moving average is $318.25 and its 200 day moving average is $302.71. 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 1 year low of $244.82 and a 1 year high of $377.54. The firm has a market capitalization of $61.29 billion, a P/E ratio of 23.86, a P/E/G ratio of 1.63 and a beta of 0.58.

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

Cencora Dividend Announcement

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

Analysts Set New Price Targets

COR has been the topic of several analyst reports. Evercore reiterated an "outperform" rating and issued a $350.00 target price on shares of Cencora in a research note on Thursday, August 6th. Wall Street Zen raised shares of Cencora from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. raised their price target on shares of Cencora from $382.00 to $390.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Bank of America boosted their price objective on shares of Cencora from $280.00 to $285.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 24th. Finally, Robert W. Baird set a $370.00 target price on shares of Cencora in a research report on Thursday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $372.07.

Insider Transactions at Cencora

In other Cencora news, EVP Elizabeth Campbell sold 11,300 shares of the firm's stock in a transaction on 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 completion of the transaction, the executive vice president owned 19,455 shares of the company's stock, valued at approximately $6,305,754.60. This trade represents a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.38% of the company's stock.

Cencora Company Profile

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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