Quantitative Investment Management LLC Buys New Stake in Cencora, Inc. $COR

Key Points

• Quantitative Investment Management LLC purchased 26,808 shares of Cencora, Inc. valued at approximately $7.45 million during the first quarter, indicating significant investor interest in the company.
• Multiple analysts have raised their price targets for Cencora, with updates from Citigroup and UBS indicating a bullish outlook with current price targets ranging from $300.00 to $355.00.
• Cencora recently announced a quarterly dividend of $0.55 per share, set to be paid on September 3rd, which highlights their commitment to returning capital to shareholders.

Quantitative Investment Management LLC purchased a new stake in Cencora, Inc. (NYSE:COR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 26,808 shares of the company's stock, valued at approximately $7,455,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new stake in Cencora during the fourth quarter worth $67,000. Stifel Financial Corp raised its position in shares of Cencora by 1.1% in the fourth quarter. Stifel Financial Corp now owns 76,861 shares of the company's stock worth $17,284,000 after acquiring an additional 857 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Cencora during the 4th quarter worth about $4,914,000. Coppell Advisory Solutions LLC grew its position in shares of Cencora by 97.9% during the 4th quarter. Coppell Advisory Solutions LLC now owns 384 shares of the company's stock valued at $86,000 after acquiring an additional 190 shares during the period. Finally, Coldstream Capital Management Inc. grew its position in shares of Cencora by 3.0% during the 4th quarter. Coldstream Capital Management Inc. now owns 3,399 shares of the company's stock valued at $764,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 97.52% of the company's stock.

Cencora Trading Down 0.2%

Shares of COR traded down $0.53 during midday trading on Thursday, reaching $290.03. The company had a trading volume of 1,027,002 shares, compared to its average volume of 1,554,736. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $309.35. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. The firm has a 50 day simple moving average of $293.21 and a 200-day simple moving average of $281.27. The stock has a market cap of $56.23 billion, a PE ratio of 29.84, a price-to-earnings-growth ratio of 1.37 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) 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 firm had revenue of $80.66 billion during the quarter, compared to analyst estimates of $80.34 billion. During the same quarter in the prior year, the firm posted $3.34 earnings per share. Cencora's quarterly revenue was up 8.7% on a year-over-year basis. Research analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be issued a dividend of $0.55 per share. The ex-dividend date is Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.8%. Cencora's dividend payout ratio (DPR) is currently 22.63%.

Wall Street Analysts Forecast Growth

COR has been the subject of a number of analyst reports. Citigroup upped their price target on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Jefferies Financial Group boosted their price objective on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Robert W. Baird upped their target price on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Wells Fargo & Company lifted their price target on shares of Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Finally, Morgan Stanley set a $330.00 price target on shares of Cencora and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $311.25.

Insider Activity at Cencora

In related news, 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Steven H. Collis sold 14,578 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $292.67, for a total value of $4,266,543.26. Following the sale, the chairman directly owned 309,913 shares of the company's stock, valued at approximately $90,702,237.71. This trade represents a 4.49% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,125 shares of company stock worth $9,993,789. Corporate 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.