Creekmur Asset Management LLC Has $371,000 Position in Cencora, Inc. $COR

Creekmur Asset Management LLC grew its position in Cencora, Inc. (NYSE:COR) by 25.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,238 shares of the company’s stock after purchasing an additional 248 shares during the quarter. Creekmur Asset Management LLC’s holdings in Cencora were worth $371,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in COR. Invesco Ltd. raised its position in shares of Cencora by 42.1% in the 1st quarter. Invesco Ltd. now owns 4,607,964 shares of the company’s stock valued at $1,281,429,000 after buying an additional 1,364,433 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Cencora by 4,459.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 997,233 shares of the company’s stock valued at $277,321,000 after buying an additional 975,362 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Cencora by 8.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company’s stock valued at $2,682,821,000 after buying an additional 787,858 shares in the last quarter. Nuveen LLC acquired a new position in shares of Cencora in the 1st quarter valued at approximately $181,284,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of Cencora by 144.4% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 743,072 shares of the company’s stock valued at $206,641,000 after buying an additional 439,008 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Trading Down 1.1%

COR opened at $337.60 on Friday. Cencora, Inc. has a fifty-two week low of $223.92 and a fifty-two week high of $350.46. 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 capitalization of $65.45 billion, a price-to-earnings ratio of 34.73, a PEG ratio of 1.56 and a beta of 0.63. The company’s 50 day moving average price is $308.09 and its two-hundred day moving average price is $297.02.

Cencora (NYSE:COR) last posted 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. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. During the same period in the previous year, the firm posted $3.34 EPS. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Cencora’s payout ratio is presently 22.63%.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 31,350 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the sale, the chairman directly owned 305,913 shares of the company’s stock, valued at $88,671,942.18. The trade was a 9.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert P. Mauch sold 5,097 shares of the company’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $326.80, for a total transaction of $1,665,699.60. Following the completion of the sale, the chief executive officer directly owned 37,940 shares in the company, valued at approximately $12,398,792. This represents a 11.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 41,544 shares of company stock worth $12,230,941 over the last three months. Insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on COR. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Wells Fargo & Company upped their price objective on shares of Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Wall Street Zen cut shares of Cencora from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. UBS Group upped their price objective on shares of Cencora from $350.00 to $380.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Evercore ISI set a $340.00 price objective on shares of Cencora in a research report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Cencora presently has a consensus rating of “Moderate Buy” and an average price target of $329.55.

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.