Clare Market Investments LLC Has $3.54 Million Position in Cencora, Inc. $COR

Key Points

• Clare Market Investments LLC increased its stake in Cencora, Inc. by 34.7% during Q2, acquiring an additional 3,040 shares, bringing its total to 11,790 shares valued at approximately $3.5 million.
• Analysts have set a new average price target of $311.25 for Cencora, with Morgan Stanley, Wells Fargo, and Jefferies Financial Group providing varied recommendations ranging from "equal weight" to "overweight."
• Insider trading activity revealed that Chairman Steven H. Collis sold 31,350 shares for over $9 million, reducing his ownership by 9.30%, while CEO Robert P. Mauch also sold shares, demonstrating significant insider selling.

Clare Market Investments LLC increased its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 34.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,790 shares of the company's stock after purchasing an additional 3,040 shares during the quarter. Cencora makes up approximately 0.8% of Clare Market Investments LLC's holdings, making the stock its 24th biggest holding. Clare Market Investments LLC's holdings in Cencora were worth $3,535,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its position in Cencora by 106.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock valued at $26,000 after acquiring an additional 48 shares in the last quarter. Hoey Investments Inc. bought a new position in shares of Cencora in the 1st quarter valued at about $28,000. Costello Asset Management INC bought a new position in shares of Cencora in the 1st quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Cencora in the 1st quarter valued at about $39,000. Finally, Vermillion Wealth Management Inc. bought a new position in shares of Cencora in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 97.52% of the company's stock.

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 31,350 shares of Cencora stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of the transaction, the chairman owned 305,913 shares of the company's stock, valued at $88,671,942.18. This trade represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert P. Mauch sold 5,097 shares of Cencora stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the completion of the sale, the chief executive officer owned 39,274 shares of the company's stock, valued at $11,389,460. This represents a 11.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,993 shares of company stock valued at $16,292,923 in the last three months. 10.80% of the stock is owned by insiders.

Cencora Trading Up 3.8%

NYSE COR traded up $11.10 during trading hours on Tuesday, reaching $299.89. The company's stock had a trading volume of 462,420 shares, compared to its average volume of 1,577,511. The firm has a fifty day simple moving average of $292.26 and a 200-day simple moving average of $287.53. The stock has a market cap of $58.14 billion, a P/E ratio of 30.82, a P/E/G ratio of 1.48 and a beta of 0.62. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.79 by $0.21. The business had revenue of $80.66 billion during the quarter, compared to analyst estimates of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm's quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business earned $3.34 EPS. Equities analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Cencora's dividend payout ratio (DPR) is currently 22.63%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on COR shares. Wells Fargo & Company raised their target price on shares of Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Jefferies Financial Group upped their price objective on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a report on Monday, June 30th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $311.25.

Cencora Company Profile

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.