11,322 Shares in Cencora, Inc. (NYSE:COR) Acquired by CHB Investment Group LLC

18 Oct 2024, 13:56 by Kim Johansen · The Markets Daily

CHB Investment Group LLC acquired a new position in Cencora, Inc. (NYSE:COR – Free Report) in the third quarter, HoldingsChannel.com reports. The firm acquired 11,322 shares of the company’s stock, valued at approximately $2,548,000.

A number of other hedge funds have also added to or reduced their stakes in COR. Rise Advisors LLC purchased a new stake in Cencora during the 1st quarter valued at $25,000. New Millennium Group LLC purchased a new stake in Cencora during the 2nd quarter valued at $26,000. TCTC Holdings LLC purchased a new stake in Cencora during the 1st quarter valued at $29,000. TFO Wealth Partners LLC purchased a new stake in Cencora during the 1st quarter valued at $30,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Cencora during the 2nd quarter valued at $30,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Trading Up 0.1 %

Shares of Cencora stock opened at $235.84 on Friday. The company has a market capitalization of $47.04 billion, a P/E ratio of 25.78, a P/E/G ratio of 1.40 and a beta of 0.44. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. The company has a fifty day moving average of $232.39 and a 200 day moving average of $231.18. Cencora, Inc. has a fifty-two week low of $182.75 and a fifty-two week high of $247.66.

Cencora (NYSE:COR – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business had revenue of $74.20 billion during the quarter, compared to the consensus estimate of $73.32 billion. During the same quarter in the prior year, the firm earned $2.92 EPS. The business’s revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts anticipate that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 0.86%. The ex-dividend date was Friday, August 9th. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on COR shares. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Leerink Partners cut their price objective on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Robert W. Baird cut their price objective on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research report on Friday, September 6th. Evercore ISI cut their price objective on shares of Cencora from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $259.44.

Get Our Latest Stock Analysis on Cencora

Insider Buying and Selling at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the transaction, the insider now owns 19,980,000 shares of the company’s stock, valued at $4,806,388,800. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value of $357,482.37. Following the completion of the transaction, the executive vice president now owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the sale, the insider now directly owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 15.80% of the company’s stock.

Cencora Company Profile

(Free Report)

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.