Harbour Investments Inc. Has $585,000 Position in Cencora, Inc. $COR

Key Points

• Harbour Investments Inc. increased its stake in Cencora, Inc. by 108.2%, owning 1,951 shares valued at $585,000 according to its latest SEC filing.
• Cencora reported a quarterly EPS of $4.00, exceeding analysts' expectations, with a net margin of 0.60% and revenue of $80.66 billion.
• The company declared a quarterly dividend of $0.55 per share, resulting in an annualized dividend yield of 0.7%.

Harbour Investments Inc. grew its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 108.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,951 shares of the company's stock after acquiring an additional 1,014 shares during the period. Harbour Investments Inc.'s holdings in Cencora were worth $585,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Obermeyer Wealth Partners grew its holdings in Cencora by 1.3% during the 1st quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company's stock worth $758,000 after acquiring an additional 36 shares during the period. Grove Bank & Trust grew its holdings in Cencora by 4.3% during the 2nd quarter. Grove Bank & Trust now owns 879 shares of the company's stock worth $264,000 after acquiring an additional 36 shares during the period. U.S. Capital Wealth Advisors LLC grew its holdings in Cencora by 0.4% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 8,547 shares of the company's stock worth $2,563,000 after acquiring an additional 38 shares during the period. Monument Capital Management grew its stake in shares of Cencora by 2.4% in the 2nd quarter. Monument Capital Management now owns 1,637 shares of the company's stock valued at $491,000 after buying an additional 38 shares during the period. Finally, Cromwell Holdings LLC grew its stake in shares of Cencora by 9.5% in the 1st quarter. Cromwell Holdings LLC now owns 450 shares of the company's stock valued at $125,000 after buying an additional 39 shares during the period. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Price Performance

Cencora stock opened at $324.83 on Monday. Cencora, Inc. has a 52 week low of $223.92 and a 52 week high of $325.70. The company's 50 day moving average price is $300.30 and its two-hundred day moving average price is $293.26. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. The stock has a market cap of $62.98 billion, a P/E ratio of 33.42, a P/E/G ratio of 1.52 and a beta of 0.63.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The company had revenue of $80.66 billion for the quarter, compared to analysts' expectations of $80.34 billion. During the same quarter in the previous year, the firm posted $3.34 EPS. Cencora's revenue was up 8.7% on a year-over-year basis. On average, equities analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on COR. Mizuho raised their target price on Cencora from $316.00 to $334.00 and gave the company an "outperform" rating in a research note on Thursday. Jefferies Financial Group lifted their price target on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, June 30th. Weiss Ratings reiterated a "buy (b)" rating on shares of Cencora in a research note on Wednesday, October 8th. Morgan Stanley set a $330.00 price target on Cencora and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company lifted their price target on Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $324.91.

Insiders Place Their Bets

In other news, 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 directly owned 39,274 shares of the company's stock, valued at approximately $11,389,460. The trade was a 11.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Steven H. Collis sold 31,350 shares of Cencora stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the sale, the chairman directly owned 305,913 shares of the company's stock, valued at $88,671,942.18. This represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,025 shares of company stock valued at $14,831,784 over the last ninety days. 10.80% of the stock is currently owned by insiders.

About Cencora

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.

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