Kestra Investment Management LLC Grows Holdings in Cencora, Inc. $COR

Key Points

• Kestra Investment Management LLC increased its stake in Cencora, Inc. by 45.4% during the first quarter, ultimately owning 5,003 shares valued at approximately $1,391,000.
• Analysts have set a new average price target of $311.25 for Cencora, with nine analysts rating the stock as a Buy and three as a Hold.
• Cencora has reported $4.00 earnings per share for the last quarter, surpassing estimates and achieving an 8.7% year-over-year revenue increase.

Kestra Investment Management LLC raised its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 45.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,003 shares of the company's stock after buying an additional 1,562 shares during the quarter. Kestra Investment Management LLC's holdings in Cencora were worth $1,391,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its holdings 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 buying an additional 48 shares during the period. Hoey Investments Inc. purchased a new stake in Cencora in the 1st quarter valued at about $28,000. Costello Asset Management INC purchased a new stake in Cencora in the 1st quarter valued at about $28,000. Vermillion Wealth Management Inc. purchased a new stake in Cencora in the 4th quarter valued at about $38,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in Cencora in the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Analyst Ratings Changes

COR has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price target on Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Morgan Stanley set a $330.00 target price on Cencora and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Finally, Jefferies Financial Group boosted their target price on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Cencora has a consensus rating of "Moderate Buy" and an average price target of $311.25.

Cencora Stock Up 0.0%

NYSE COR traded up $0.03 on Friday, reaching $302.83. The company had a trading volume of 1,189,360 shares, compared to its average volume of 1,313,938. The firm has a market capitalization of $58.71 billion, a PE ratio of 31.16, a P/E/G ratio of 1.44 and a beta of 0.62. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35. The firm has a 50-day moving average of $293.24 and a 200-day moving average of $285.74. 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 released its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. The firm had revenue of $80.66 billion during the quarter, compared to analysts' expectations of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.Cencora's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.34 EPS. On average, equities research analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

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

Insider Buying and Selling

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

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.