Clare Market Investments LLC Purchases 3,040 Shares of Cencora, Inc. $COR

Clare Market Investments LLC lifted its position in shares of Cencora, Inc. (NYSE:COR) by 34.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,790 shares of the company’s stock after purchasing an additional 3,040 shares during the period. Cencora comprises 0.8% of Clare Market Investments LLC’s investment portfolio, making the stock its 24th largest holding. Clare Market Investments LLC’s holdings in Cencora were worth $3,535,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Cornerstone Planning Group LLC boosted its holdings in Cencora by 106.7% in the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock valued at $26,000 after acquiring an additional 48 shares during the last quarter. Hoey Investments Inc. bought a new stake in Cencora in the first quarter valued at approximately $28,000. Costello Asset Management INC bought a new stake in Cencora in the first quarter valued at approximately $28,000. University of Texas Texas AM Investment Management Co. bought a new stake in Cencora in the first quarter valued at approximately $39,000. Finally, Vermillion Wealth Management Inc. bought a new stake in Cencora in the fourth quarter valued at approximately $38,000. 97.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. Morgan Stanley set a $330.00 target price on Cencora and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Wells Fargo & Company upped their target price on Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. Finally, Jefferies Financial Group boosted their price target on Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research note on Monday, June 30th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $311.25.

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction on Tuesday, September 16th. The stock was 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 of the company’s stock, valued at approximately $88,671,942.18. This represents a 9.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert P. Mauch sold 4,968 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 42,351 shares of the company’s stock, valued at $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 sold a total of 65,475 shares of company stock valued at $19,080,900 over the last three months. 10.80% of the stock is currently owned by insiders.

Cencora Price Performance

Shares of NYSE:COR opened at $290.82 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35. The stock’s 50 day moving average is $292.52 and its 200-day moving average is $286.56. The firm has a market capitalization of $56.38 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 1.37 and a beta of 0.62.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, topping analysts’ consensus estimates of $3.79 by $0.21. The company had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.Cencora’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.34 earnings per share. Sell-side analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, August 15th. Cencora’s dividend payout ratio is presently 22.63%.

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.