Martin Capital Partners LLC Boosts Stock Position in Cencora, Inc. (NYSE:COR)

Martin Capital Partners LLC increased its stake in shares of Cencora, Inc. (NYSE:COR) by 31.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,240 shares of the company’s stock after purchasing an additional 298 shares during the quarter. Martin Capital Partners LLC’s holdings in Cencora were worth $345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COR. Norges Bank purchased a new stake in Cencora during the 4th quarter worth about $478,309,000. Bank of America Corp DE increased its position in Cencora by 62.3% during the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company’s stock worth $1,166,944,000 after purchasing an additional 1,994,256 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in Cencora during the 4th quarter worth about $399,508,000. GAMMA Investing LLC increased its position in Cencora by 43,561.9% during the 1st quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company’s stock worth $444,516,000 after purchasing an additional 1,594,800 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Cencora during the 4th quarter worth about $322,460,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Morgan Stanley set a $288.00 price target on Cencora in a report on Tuesday, April 15th. Robert W. Baird lifted their price target on Cencora from $314.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Wells Fargo & Company upgraded Cencora from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $274.00 to $337.00 in a report on Tuesday, June 3rd. Finally, UBS Group lifted their price target on Cencora from $298.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $306.91.

Cencora Stock Performance

NYSE COR opened at $284.32 on Wednesday. The firm has a market capitalization of $55.11 billion, a P/E ratio of 40.44, a P/E/G ratio of 1.31 and a beta of 0.58. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $309.35. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The business’s 50-day simple moving average is $286.28 and its 200-day simple moving average is $260.81.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating the consensus estimate of $4.07 by $0.35. The business had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. Cencora had a return on equity of 328.62% and a net margin of 0.46%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.80 EPS. Equities analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The business also recently declared 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. This represents a $2.20 annualized dividend and a yield of 0.77%. The ex-dividend date was Friday, May 16th. Cencora’s dividend payout ratio (DPR) is presently 25.52%.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 14,579 shares of the business’s stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the transaction, the chairman now directly owns 315,913 shares of the company’s stock, valued at approximately $89,027,442.53. The trade was a 4.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $268.28, for a total value of $1,107,191.56. Following the transaction, the executive vice president now directly owns 14,665 shares in the company, valued at $3,934,326.20. This trade represents a 21.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,253 shares of company stock valued at $10,582,297. Corporate insiders own 10.80% of the company’s stock.

Cencora 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.