Invesco Ltd. Purchases 1,364,433 Shares of Cencora, Inc. (NYSE:COR)

Key Points

• Invesco Ltd. increased its holdings in Cencora, Inc. by 42.1%, now owning 4,607,964 shares valued at approximately $1.28 billion.
• Cencora recently reported earnings of $4.00 per share, exceeding analysts' expectations, with a quarterly revenue of $80.66 billion, marking an 8.7% year-over-year increase.
• The company announced a quarterly dividend of $0.55 per share, representing an annualized yield of 0.8%, with a payout ratio currently at 22.63%.

Invesco Ltd. grew its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 42.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,607,964 shares of the company's stock after purchasing an additional 1,364,433 shares during the period. Invesco Ltd. owned approximately 2.38% of Cencora worth $1,281,429,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Exchange Traded Concepts LLC raised its holdings in shares of Cencora by 4.5% during the first quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company's stock worth $307,000 after acquiring an additional 48 shares in the last quarter. Dynamic Advisor Solutions LLC raised its holdings in shares of Cencora by 6.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 1,535 shares of the company's stock worth $427,000 after acquiring an additional 93 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Cencora by 57.0% during the first quarter. GAMMA Investing LLC now owns 5,748 shares of the company's stock worth $1,598,000 after acquiring an additional 2,087 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Cencora by 157.6% during the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock worth $47,000 after acquiring an additional 104 shares in the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. raised its holdings in Cencora by 5.2% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 82,952 shares of the company's stock valued at $18,638,000 after buying an additional 4,126 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on COR shares. Jefferies Financial Group raised their target price on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a report on Monday, June 30th. Morgan Stanley set a $330.00 target price on Cencora and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Citigroup raised their target price on Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, May 8th. UBS Group raised their price target on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, Robert W. Baird raised their price target on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Cencora has a consensus rating of "Moderate Buy" and an average target price of $311.25.

Cencora Price Performance

COR traded up $3.51 during midday trading on Wednesday, reaching $292.66. 48,925 shares of the company's stock were exchanged, compared to its average volume of 1,565,642. The firm has a market capitalization of $56.72 billion, a price-to-earnings ratio of 30.20, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35. The business has a 50-day simple moving average of $292.44 and a two-hundred day simple moving average of $278.38.

Cencora (NYSE:COR - Get Free Report) last posted its earnings results 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. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The company had revenue of $80.66 billion during the quarter, compared to analysts' expectations of $80.34 billion. During the same quarter in the previous year, the company posted $3.34 earnings per share. Cencora's quarterly revenue was up 8.7% compared to the same quarter last year. As a group, research analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, August 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, August 15th. Cencora's payout ratio is 22.63%.

Insider Activity at Cencora

In other news, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total value of $4,266,106.98. Following the completion of the transaction, the chairman owned 311,913 shares of the company's stock, valued at $91,271,982.06. The trade was a 4.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert P. Mauch sold 4,968 shares of the business's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the completion of the transaction, the chief executive officer directly owned 42,351 shares of the company's stock, valued at $12,455,852.61. This trade represents a 10.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,125 shares of company stock valued at $9,993,789 in the last 90 days. 10.80% of the stock is currently owned by corporate 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.