Joel Isaacson & Co. LLC Buys Shares of 22,815 Cencora, Inc. $COR

Key Points

• Joel Isaacson & Co. LLC opened a new position in Cencora (NYSE:COR) in Q4, buying 22,815 shares valued at about $7.706 million.
• Institutional ownership is very high at roughly 97.52%, though several other firms made small/new purchases or position changes in Q3/Q4, indicating concentrated but active institutional holdings.
• Cencora beat Q4 estimates with EPS $4.08 and 5.5% revenue growth year-over-year, carries a market cap of about $60.7B, pays a $0.60 quarterly dividend (0.8% yield), and has a consensus rating of "Moderate Buy" with an average price target near $398.

Joel Isaacson & Co. LLC bought a new position in Cencora, Inc. (NYSE:COR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,815 shares of the company's stock, valued at approximately $7,706,000.

A number of other large investors have also made changes to their positions in COR. Oakworth Capital Inc. bought a new position in shares of Cencora in the 4th quarter worth approximately $26,000. Archer Investment Corp grew its position in Cencora by 134.3% during the fourth quarter. Archer Investment Corp now owns 82 shares of the company's stock valued at $28,000 after buying an additional 47 shares during the period. Optima Capital LLC purchased a new stake in Cencora during the fourth quarter valued at approximately $31,000. IAG Wealth Partners LLC purchased a new stake in Cencora during the third quarter valued at approximately $30,000. Finally, Cloud Capital Management LLC bought a new position in Cencora in the third quarter worth approximately $31,000. 97.52% of the stock is currently owned by institutional investors.

Cencora Stock Performance

COR opened at $312.09 on Wednesday. The firm has a market cap of $60.71 billion, a P/E ratio of 37.51, a PEG ratio of 1.45 and a beta of 0.72. Cencora, Inc. has a 1-year low of $271.00 and a 1-year high of $377.54. The company has a 50 day simple moving average of $335.37 and a two-hundred day simple moving average of $343.42. The company has a debt-to-equity ratio of 3.62, a current ratio of 0.92 and a quick ratio of 0.51.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $4.08 EPS for the quarter, beating the consensus estimate of $4.04 by $0.04. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The firm had revenue of $85.93 billion for the quarter, compared to the consensus estimate of $86.12 billion. During the same period last year, the firm earned $3.73 EPS. The company's revenue was up 5.5% on a year-over-year basis. Equities analysts forecast that Cencora, Inc. will post 17.57 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.40 dividend on an annualized basis and a yield of 0.8%. Cencora's dividend payout ratio (DPR) is currently 28.85%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on COR. Wells Fargo & Company lifted their price target on shares of Cencora from $405.00 to $429.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 10th. William Blair started coverage on Cencora in a report on Tuesday. They issued a "market perform" rating on the stock. Jefferies Financial Group upgraded Cencora from an "underperform" rating to a "buy" rating in a research report on Thursday, January 22nd. Evercore set a $360.00 price target on Cencora in a report on Wednesday, April 8th. Finally, Barclays upped their price target on Cencora from $400.00 to $425.00 and gave the stock an "overweight" rating in a research report on Friday, February 13th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $398.17.

About Cencora

Cencora NYSE: COR is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company's core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.