United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Buys New Shares in Cencora, Inc. (NYSE:COR)

Key Points

• United Super Pty Ltd invested $389,000 in Cencora, Inc. by purchasing 1,400 shares during the first quarter, according to a recent SEC filing.
• A significant number of institutional investors, including UNIVEST FINANCIAL Corp and Jefferies Financial Group Inc., have also increased their positions in Cencora, contributing to institutional ownership of approximately 97.52%.
• Analysts have raised their price targets for Cencora, with a consensus average target of $309.83, indicating a largely positive outlook with ten analysts giving the stock a "buy" rating.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in Cencora, Inc. (NYSE:COR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,400 shares of the company's stock, valued at approximately $389,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its position in shares of Cencora by 1.9% in the 4th quarter. Franklin Resources Inc. now owns 211,076 shares of the company's stock worth $47,425,000 after purchasing an additional 3,945 shares during the last quarter. Arete Wealth Advisors LLC raised its holdings in Cencora by 6.3% in the fourth quarter. Arete Wealth Advisors LLC now owns 2,565 shares of the company's stock worth $576,000 after buying an additional 153 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new position in Cencora in the fourth quarter worth about $19,050,000. Rhenman & Partners Asset Management AB raised its holdings in Cencora by 19.0% in the fourth quarter. Rhenman & Partners Asset Management AB now owns 53,750 shares of the company's stock worth $12,077,000 after buying an additional 8,600 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Cencora by 0.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 589,072 shares of the company's stock worth $132,353,000 after acquiring an additional 3,546 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Performance

NYSE:COR traded up $0.37 on Tuesday, hitting $294.01. The stock had a trading volume of 150,891 shares, compared to its average volume of 1,557,961. The stock has a market cap of $56.99 billion, a price-to-earnings ratio of 34.19, a price-to-earnings-growth ratio of 1.43 and a beta of 0.58. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. The business's 50-day simple moving average is $293.00 and its two-hundred day simple moving average is $276.90. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $309.35.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.07 by $0.35. The company had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The firm's revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $3.80 earnings per share. As a group, research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were given a dividend of $0.55 per share. The ex-dividend date was Friday, May 16th. This represents a $2.20 annualized dividend and a yield of 0.7%. Cencora's payout ratio is 25.52%.

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the transaction, the chairman directly owned 311,913 shares of the company's stock, valued at $91,271,982.06. The trade was a 4.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction dated Friday, July 18th. The shares were 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. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,125 shares of company stock worth $9,993,789 over the last quarter. 10.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on COR. Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Morgan Stanley set a $330.00 price objective on Cencora and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Robert W. Baird increased their price objective on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. UBS Group increased their price objective on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, Citigroup raised their price target on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $309.83.

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.