LGT Fund Management Co Ltd. Raises Stake in Cencora, Inc. $COR

Key Points

• LGT Fund Management Co Ltd. increased its stake in Cencora, Inc. by 15.6% during the second quarter, holding 12,323 shares valued at approximately $3.7 million.
• Cencora recently reported earnings per share of $4.00, surpassing analyst expectations, and experienced an 8.7% revenue growth from the previous year.
• The company's quarterly dividend was $0.55 per share, representing a 0.7% annual yield and a payout ratio of 22.63%.

LGT Fund Management Co Ltd. grew its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 15.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,323 shares of the company's stock after buying an additional 1,666 shares during the period. LGT Fund Management Co Ltd.'s holdings in Cencora were worth $3,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of COR. Merit Financial Group LLC raised its position in shares of Cencora by 47.6% during the first quarter. Merit Financial Group LLC now owns 9,749 shares of the company's stock valued at $2,711,000 after buying an additional 3,146 shares during the last quarter. Vest Financial LLC bought a new stake in shares of Cencora during the first quarter valued at approximately $240,000. Curat Global LLC bought a new stake in shares of Cencora during the first quarter valued at approximately $111,000. Unique Wealth LLC raised its position in shares of Cencora by 14.5% during the first quarter. Unique Wealth LLC now owns 1,586 shares of the company's stock valued at $441,000 after buying an additional 201 shares during the last quarter. Finally, Permanent Capital Management LP raised its position in shares of Cencora by 4.0% during the first quarter. Permanent Capital Management LP now owns 1,238 shares of the company's stock valued at $344,000 after buying an additional 48 shares during the last quarter. Institutional investors own 97.52% of the company's stock.

Cencora Trading Down 2.0%

Shares of COR opened at $302.54 on Friday. The company's fifty day moving average is $294.68 and its 200 day moving average is $290.08. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $315.23. The stock has a market capitalization of $58.66 billion, a PE ratio of 31.13, a P/E/G ratio of 1.44 and a beta of 0.63. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share 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 business 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 business posted $3.34 earnings per share. The business's revenue was up 8.7% compared to the same quarter last year. Sell-side analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

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

Insiders Place Their Bets

In other Cencora news, CEO Robert P. Mauch sold 5,097 shares of the business's 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 transaction, the chief executive officer owned 39,274 shares in the company, valued at $11,389,460. The trade was a 11.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Steven H. Collis sold 31,350 shares of the business's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the transaction, the chairman owned 305,913 shares in the company, valued at $88,671,942.18. This trade represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,993 shares of company stock worth $16,292,923 in the last quarter. Company insiders own 10.80% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on COR shares. Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Wells Fargo & Company lifted their price objective on shares of Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Jefferies Financial Group boosted their price target on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Cencora in a research report on Saturday, September 27th. Ten analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $311.25.

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.

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