Monument Capital Management Buys 4,219 Shares of Cencora, Inc. $COR

Monument Capital Management raised its stake in Cencora, Inc. (NYSE:COR) by 237.6% in the third quarter, HoldingsChannel reports. The fund owned 5,995 shares of the company’s stock after purchasing an additional 4,219 shares during the period. Monument Capital Management’s holdings in Cencora were worth $1,800,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of COR. Deutsche Bank AG acquired a new position in shares of Cencora in the 2nd quarter valued at $286,673,000. ExodusPoint Capital Management LP acquired a new stake in Cencora during the fourth quarter valued at $16,487,000. Impact Partnership Wealth LLC acquired a new stake in Cencora during the first quarter valued at $1,170,000. SEB Asset Management AB purchased a new position in Cencora in the first quarter valued at $134,139,000. Finally, Wedge Capital Management L L P NC increased its holdings in Cencora by 31.0% in the second quarter. Wedge Capital Management L L P NC now owns 105,614 shares of the company’s stock valued at $29,887,000 after buying an additional 24,968 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In other news, EVP Elizabeth Campbell sold 11,300 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $324.12, for a total value of $3,662,556.00. Following the transaction, the executive vice president owned 19,455 shares in the company, valued at $6,305,754.60. This trade represents a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.38% of the stock is currently owned by company insiders.

Cencora Stock Up 1.2%

Shares of NYSE COR opened at $321.16 on Friday. The firm has a market cap of $61.29 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 1.63 and a beta of 0.58. The company’s 50-day simple moving average is $318.25 and its 200-day simple moving average is $302.71. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. Cencora, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, topping the consensus estimate of $4.35 by $0.13. The firm had revenue of $84.75 billion during the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.00 EPS. Equities analysts predict that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. Cencora’s dividend payout ratio is presently 17.83%.

Wall Street Analyst Weigh In

COR has been the topic of several recent analyst reports. Bank of America increased their target price on shares of Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. Robert W. Baird set a $370.00 price target on Cencora in a research note on Thursday, August 6th. Morgan Stanley upped their price target on Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Evercore reiterated an “outperform” rating and set a $350.00 price target on shares of Cencora in a research report on Thursday, August 6th. Finally, UBS Group raised their price objective on Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $372.07.

About Cencora

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical solutions company that sources, distributes and supports the delivery of medicines and healthcare products. The company serves pharmaceutical manufacturers, healthcare providers, pharmacies and animal-health customers through its supply-chain and commercialization services.

Its activities include pharmaceutical and specialty-product distribution, manufacturer services, specialty logistics, clinical-trial support, patient-support programs and other services designed to help bring medicines to market and improve access to treatment.