TD Private Client Wealth LLC Takes $1.66 Million Position in Cencora, Inc. $COR

Key Points

• TD Private Client Wealth LLC acquired a new stake in Cencora, Inc. valued at approximately $1.66 million, purchasing 5,546 shares of the company's stock during the second quarter.
• Among other institutional investors, GAMMA Investing LLC significantly increased its position in Cencora by 43,561.9%, now owning over 1.5 million shares valued at $444 million.
• Cencora's latest quarterly earnings report revealed an earnings per share (EPS) of $4.00, which exceeded analysts' expectations of $3.79, alongside a revenue increase of 8.7% year-over-year.

TD Private Client Wealth LLC acquired a new stake in Cencora, Inc. (NYSE:COR - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,546 shares of the company's stock, valued at approximately $1,663,000.

A number of other hedge funds also recently made changes to their positions in COR. GAMMA Investing LLC lifted its position in shares of Cencora by 43,561.9% in the first quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company's stock valued at $444,516,000 after buying an additional 1,594,800 shares during the last quarter. Invesco Ltd. increased its stake in shares of Cencora by 42.1% during the first quarter. Invesco Ltd. now owns 4,607,964 shares of the company's stock worth $1,281,429,000 after purchasing an additional 1,364,433 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of Cencora by 4,459.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 997,233 shares of the company's stock worth $277,321,000 after purchasing an additional 975,362 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Cencora by 8.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company's stock worth $2,682,821,000 after purchasing an additional 787,858 shares during the period. Finally, Nuveen LLC bought a new position in shares of Cencora during the first quarter worth approximately $181,284,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on COR shares. Jefferies Financial Group increased their target price on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research note on Monday, June 30th. Morgan Stanley set a $330.00 target price on Cencora and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company increased their target price on Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $311.25.

Cencora Price Performance

Cencora stock opened at $299.21 on Friday. The stock's fifty day moving average price is $292.71 and its two-hundred day moving average price is $288.04. Cencora, Inc. has a one year low of $218.65 and a one year high of $310.00. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. The firm has a market cap of $58.01 billion, a PE ratio of 30.78, a price-to-earnings-growth ratio of 1.57 and a beta of 0.62.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The firm had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. During the same quarter last year, the company earned $3.34 EPS. The company's revenue was up 8.7% on a year-over-year basis. As a group, research analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.20 annualized dividend and a yield of 0.7%. Cencora's dividend payout ratio (DPR) is 22.63%.

Insider Activity

In related news, CEO Robert P. Mauch sold 5,097 shares of the firm's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $290.00, for a total value of $1,478,130.00. Following the sale, the chief executive officer directly owned 39,274 shares of the company's stock, valued at $11,389,460. This trade represents a 11.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Steven H. Collis sold 31,350 shares of the firm's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total value of $9,087,111.00. Following the completion of the sale, the chairman directly owned 305,913 shares in the company, valued at $88,671,942.18. This trade represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,993 shares of company stock worth $16,292,923 over the last ninety days. 10.80% of the stock is currently owned by insiders.

About Cencora

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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