Kendall Capital Management Acquires 880 Shares of Cencora, Inc. (NYSE:COR)

Kendall Capital Management increased its holdings in shares of Cencora, Inc. (NYSE:COR) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,189 shares of the company’s stock after purchasing an additional 880 shares during the period. Cencora makes up 1.2% of Kendall Capital Management’s portfolio, making the stock its 21st biggest position. Kendall Capital Management’s holdings in Cencora were worth $4,087,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of COR. Swedbank AB raised its holdings in shares of Cencora by 2.3% in the third quarter. Swedbank AB now owns 1,394,449 shares of the company’s stock valued at $313,863,000 after purchasing an additional 31,104 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Cencora during the 3rd quarter valued at $62,000. Graypoint LLC raised its position in shares of Cencora by 7.8% in the third quarter. Graypoint LLC now owns 1,171 shares of the company’s stock valued at $264,000 after purchasing an additional 85 shares during the period. Summit Global Investments acquired a new position in Cencora in the 3rd quarter valued at about $297,000. Finally, Fiera Capital Corp raised its holdings in Cencora by 8.9% in the 3rd quarter. Fiera Capital Corp now owns 20,493 shares of the company’s stock valued at $4,613,000 after acquiring an additional 1,672 shares during the period. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COR has been the subject of several research reports. Mizuho assumed coverage on Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target for the company. Wells Fargo & Company boosted their target price on shares of Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. raised their price target on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Evercore ISI boosted their price objective on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, StockNews.com lowered shares of Cencora from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cencora currently has an average rating of “Moderate Buy” and an average price target of $277.90.

Cencora Price Performance

Cencora stock opened at $254.54 on Friday. The stock has a fifty day moving average of $244.34 and a 200-day moving average of $238.40. The stock has a market capitalization of $49.36 billion, a P/E ratio of 36.21, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $262.26.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. On average, sell-side analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 0.86%. Cencora’s dividend payout ratio (DPR) is presently 31.29%.

Insider Activity

In other news, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the sale, the executive vice president now directly owns 20,329 shares in the company, valued at approximately $4,649,648.88. The trade was a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert P. Mauch sold 4,970 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $255.00, for a total transaction of $1,267,350.00. Following the sale, the chief executive officer now directly owns 51,070 shares in the company, valued at $13,022,850. The trade was a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,648 shares of company stock worth $2,862,342. Insiders own 10.80% of the company’s stock.

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.