Cencora, Inc. $COR Shares Purchased by Martin Capital Partners LLC

Key Points

• Martin Capital Partners LLC increased its stake in Cencora, Inc. by 205.2% during the second quarter, acquiring an additional 2,544 shares, bringing their total holdings to 3,784 shares valued at approximately $1,135,000.
• Wall Street analysts have rated Cencora with a consensus rating of "Moderate Buy" and a target price averaging $311.25, with nine analysts recommending to buy the stock.
• Insider trading activity included CEO Robert P. Mauch selling nearly 5,000 shares, representing a 10.50% decrease in his ownership, and Chairman Steven H. Collis selling over 14,500 shares, representing a 4.49% decrease in his holdings.

Martin Capital Partners LLC lifted its stake in Cencora, Inc. (NYSE:COR - Free Report) by 205.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,784 shares of the company's stock after buying an additional 2,544 shares during the period. Martin Capital Partners LLC's holdings in Cencora were worth $1,135,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Voleon Capital Management LP purchased a new stake in shares of Cencora in the first quarter worth about $3,111,000. Exchange Traded Concepts LLC boosted its position in shares of Cencora by 4.5% in the first quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company's stock worth $307,000 after buying an additional 48 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in Cencora by 42.5% in the first quarter. Integrated Wealth Concepts LLC now owns 8,008 shares of the company's stock valued at $2,227,000 after purchasing an additional 2,389 shares during the last quarter. Ascent Group LLC boosted its holdings in Cencora by 42.7% in the first quarter. Ascent Group LLC now owns 12,586 shares of the company's stock valued at $3,500,000 after purchasing an additional 3,764 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Cencora by 370.6% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 24,683 shares of the company's stock valued at $6,864,000 after purchasing an additional 19,438 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Stock Up 0.8%

NYSE COR traded up $2.44 on Friday, hitting $293.28. 560,944 shares of the stock traded hands, compared to its average volume of 1,549,245. The stock has a 50-day moving average of $292.52 and a 200 day moving average of $286.56. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35. The company has a market capitalization of $56.86 billion, a P/E ratio of 30.17, a price-to-earnings-growth ratio of 1.37 and a beta of 0.62. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64.

Cencora (NYSE:COR - Get Free Report) last announced 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 business had revenue of $80.66 billion for 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%.The business's quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.34 EPS. As a group, analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business 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 0.8%. The ex-dividend date was Friday, August 15th. Cencora's dividend payout ratio is presently 22.63%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on COR shares. Morgan Stanley set a $330.00 price target on Cencora and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Jefferies Financial Group increased their price target on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a report on Monday, June 30th. Finally, Wells Fargo & Company increased 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. Nine investment 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, Cencora has an average rating of "Moderate Buy" and a consensus price target of $311.25.

Insider Buying and Selling

In other news, CEO Robert P. Mauch sold 4,968 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the sale, the chief executive officer directly owned 42,351 shares in the company, valued at approximately $12,455,852.61. This represents a 10.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total value of $9,087,111.00. Following the sale, the chairman owned 305,913 shares in the company, valued at $88,671,942.18. The trade was 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 65,475 shares of company stock worth $19,080,900 over the last quarter. Insiders own 10.80% of the company's stock.

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.