Freedom Day Solutions LLC Acquires New Shares in Cencora, Inc. $COR

Key Points

• Freedom Day Solutions LLC acquired 8,072 Cencora shares worth approximately $2.424 million during the third quarter. Institutional investors collectively own 97.52% of the company.
• Cencora reported quarterly EPS of $4.48, exceeding estimates by $0.13, while revenue rose 5.1% year over year to $84.75 billion. Analysts expect the company to post $17.87 in EPS for the current fiscal year.
• The stock opened at $340.07, and analysts maintain a “Moderate Buy” consensus with an average price target of $363.81. Cencora also pays a quarterly dividend of $0.60 per share, yielding approximately 0.7%.

Freedom Day Solutions LLC acquired a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,072 shares of the company's stock, valued at approximately $2,424,000.

A number of other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Cencora in the second quarter worth $5,154,136,000. Bank of America Corp DE grew its holdings in shares of Cencora by 6.9% in the 1st quarter. Bank of America Corp DE now owns 4,138,388 shares of the company's stock valued at $1,300,033,000 after buying an additional 267,318 shares during the period. Amundi grew its holdings in shares of Cencora by 43.5% in the 2nd quarter. Amundi now owns 2,229,326 shares of the company's stock valued at $630,855,000 after buying an additional 676,066 shares during the period. Carmignac Gestion grew its holdings in shares of Cencora by 58.7% in the 2nd quarter. Carmignac Gestion now owns 1,747,363 shares of the company's stock valued at $494,463,000 after buying an additional 646,112 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Cencora by 2.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,549,047 shares of the company's stock valued at $486,576,000 after buying an additional 35,569 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Cencora Stock Down 0.2%

Cencora stock opened at $340.07 on Tuesday. The stock has a market capitalization of $64.90 billion, a PE ratio of 25.27, 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 $320.70 and a 200-day moving average of $303.48.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings data 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. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The company had revenue of $84.75 billion during the quarter, compared to the consensus estimate of $84.31 billion. During the same quarter in the prior year, the firm earned $4.00 earnings per share. The firm's revenue was up 5.1% compared to the same quarter last year. 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 announced 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 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, August 14th. Cencora's dividend payout ratio is 17.83%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Citigroup reaffirmed a "buy" rating on shares of Cencora in a research note on Thursday, August 6th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $330.00 target price on shares of Cencora in a report on Tuesday, September 8th. Weiss Ratings raised Cencora from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, October 6th. Wall Street Zen raised Cencora from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, Wells Fargo & Company raised their price target on Cencora from $331.00 to $395.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Cencora presently has an average rating of "Moderate Buy" and an average target price of $363.81.

Insider Transactions at Cencora

In other Cencora news, EVP Elizabeth Campbell sold 11,300 shares of Cencora 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 sale, the executive vice president owned 19,455 shares of the company's stock, valued at $6,305,754.60. This trade represents a 36.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.38% of the company's stock.

About Cencora

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.

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