Motley Fool Asset Management LLC Acquires 13,559 Shares of Cencora, Inc. $COR

Key Points

• Motley Fool Asset Management acquired 13,559 Cencora shares worth approximately $4.07 million, while institutional investors collectively own 97.52% of the company.
• Analysts remain broadly bullish: 14 rate Cencora a Buy and four rate it Hold, producing a “Moderate Buy” consensus and an average price target of $366.44.
• Cencora exceeded quarterly expectations with adjusted EPS of $4.48 and revenue of $84.75 billion; it also declared a quarterly dividend of $0.60 per share, equivalent to a 0.7% yield.

Motley Fool Asset Management LLC acquired a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 13,559 shares of the company's stock, valued at approximately $4,071,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COR. Pinnacle Associates Ltd. lifted its holdings in Cencora by 1.8% in the 3rd quarter. Pinnacle Associates Ltd. now owns 2,203 shares of the company's stock valued at $662,000 after purchasing an additional 38 shares in the last quarter. Staley Capital Advisers Inc. raised its position in shares of Cencora by 0.7% in the first quarter. Staley Capital Advisers Inc. now owns 6,127 shares of the company's stock valued at $1,925,000 after buying an additional 40 shares during the last quarter. Elmwood Wealth Management Inc. raised its position in shares of Cencora by 0.9% in the second quarter. Elmwood Wealth Management Inc. now owns 4,314 shares of the company's stock valued at $1,221,000 after buying an additional 40 shares during the last quarter. Signature Equity Partners LLC raised its position in shares of Cencora by 4.6% in the first quarter. Signature Equity Partners LLC now owns 937 shares of the company's stock valued at $294,000 after buying an additional 41 shares during the last quarter. Finally, Mosley Wealth Management lifted its stake in shares of Cencora by 11.5% during the third quarter. Mosley Wealth Management now owns 407 shares of the company's stock valued at $122,000 after buying an additional 42 shares during the period. Hedge funds and other institutional investors own 97.52% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on COR shares. Evercore restated an "outperform" rating and set a $350.00 target price (up from $330.00) on shares of Cencora in a research report on Thursday, August 6th. Wells Fargo & Company boosted their price target on Cencora from $331.00 to $395.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. Weiss Ratings upgraded Cencora from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, October 6th. Leerink Partners increased their price target on Cencora from $380.00 to $388.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 7th. Finally, UBS Group decreased their price objective on Cencora from $430.00 to $400.00 and set a "buy" rating on the stock in a report on Friday, October 16th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $366.44.

Cencora Stock Performance

NYSE:COR opened at $324.15 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. The company has a market cap of $61.86 billion, a P/E ratio of 24.08, a P/E/G ratio of 1.70 and a beta of 0.58. Cencora, Inc. has a fifty-two week low of $244.82 and a fifty-two week high of $377.54. The firm's 50 day moving average is $322.76 and its two-hundred day moving average is $317.61.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping analysts' consensus estimates of $4.35 by $0.13. The business had revenue of $84.75 billion during the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%. The business's revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.00 EPS. Analysts expect that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.7%. Cencora's dividend payout ratio is currently 17.83%.

Insider Buying and Selling

In other news, EVP Elizabeth Campbell sold 11,300 shares of Cencora stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $324.12, for a total value of $3,662,556.00. Following the transaction, the executive vice president directly owned 19,455 shares of the company's stock, valued at $6,305,754.60. The trade was a 36.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.38% of the stock is owned by corporate insiders.

Cencora Company Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical sourcing and distribution company. It provides branded, generic and specialty pharmaceuticals, over-the-counter products and related health care supplies to pharmacies, hospitals, health systems, physician practices and other health care providers.

The company also offers services to pharmaceutical and biotechnology manufacturers, including logistics, commercialization support, market access, consulting, clinical trial support and patient assistance programs.

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