Cencora, Inc. $COR Stake Boosted by Howard Capital Management LLC

Howard Capital Management LLC increased its stake in Cencora, Inc. (NYSE:COR) by 1,141.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,808 shares of the company’s stock after buying an additional 16,374 shares during the period. Howard Capital Management LLC’s holdings in Cencora were worth $5,347,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Deutsche Bank AG purchased a new position in shares of Cencora during the 2nd quarter worth approximately $286,673,000. Impact Partnership Wealth LLC bought a new position in shares of Cencora in the 1st quarter worth approximately $1,170,000. SEB Asset Management AB purchased a new position in shares of Cencora in the 1st quarter valued at approximately $134,139,000. Wedge Capital Management L L P NC lifted its stake in shares of Cencora by 31.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 105,614 shares of the company’s stock valued at $29,887,000 after purchasing an additional 24,968 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Cencora in the 2nd quarter valued at approximately $841,000. 97.52% of the stock is owned by institutional investors.

Cencora Stock Down 0.3%

Shares of NYSE COR traded down $0.87 on Friday, reaching $340.54. 1,978,868 shares of the company’s stock traded hands, compared to its average volume of 1,282,490. The business’s 50 day simple moving average is $320.38 and its two-hundred day simple moving average is $303.34. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54. The company has a market cap of $64.99 billion, a price-to-earnings ratio of 25.30, a price-to-earnings-growth ratio of 1.75 and a beta of 0.58. 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 (NYSE:COR) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping analysts’ consensus estimates of $4.35 by $0.13. The firm had revenue of $84.75 billion for the quarter, compared to analysts’ expectations of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.00 EPS. As a group, equities research analysts forecast that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently weighed in on COR. JPMorgan Chase & Co. lifted their price target on Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. UBS Group decreased their price objective on Cencora from $430.00 to $400.00 and set a “buy” rating for the company in a report on Friday. Bank of America increased their price objective on Cencora from $285.00 to $310.00 in a report on Tuesday, July 21st. Weiss Ratings raised Cencora from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, October 6th. Finally, Argus dropped their target price on shares of Cencora to $340.00 and set a “buy” rating on the stock in a report on Tuesday, June 23rd. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $363.81.

Insider Buying and Selling

In other Cencora news, EVP Elizabeth Campbell sold 11,300 shares of the business’s stock in a transaction 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 sale, the executive vice president directly owned 19,455 shares of the company’s stock, valued at approximately $6,305,754.60. The trade was a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.38% of the company’s stock.

Cencora Profile

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.