Suncoast Equity Management Boosts Stake in Cencora, Inc. (NYSE:COR)

Suncoast Equity Management raised its stake in shares of Cencora, Inc. (NYSE:COR) by 4.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,816 shares of the company’s stock after buying an additional 1,040 shares during the quarter. Cencora comprises about 0.7% of Suncoast Equity Management’s investment portfolio, making the stock its 22nd biggest position. Suncoast Equity Management’s holdings in Cencora were worth $6,036,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of COR. Financial Advocates Investment Management grew its stake in Cencora by 4.7% during the second quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock worth $220,000 after buying an additional 44 shares during the period. Checchi Capital Advisers LLC boosted its position in Cencora by 2.2% during the 2nd quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock worth $499,000 after purchasing an additional 48 shares during the period. Valeo Financial Advisors LLC increased its holdings in Cencora by 3.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,566 shares of the company’s stock valued at $353,000 after purchasing an additional 51 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in Cencora by 4.7% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,147 shares of the company’s stock valued at $258,000 after purchasing an additional 52 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its position in Cencora by 1.4% in the third quarter. Vontobel Holding Ltd. now owns 4,250 shares of the company’s stock valued at $957,000 after purchasing an additional 58 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insiders Place Their Bets

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the sale, the insider now directly owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the sale, the insider now owns 19,980,000 shares of the company’s stock, valued at $4,806,388,800. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the transaction, the executive vice president now directly owns 10,948 shares in the company, valued at $2,656,970.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 15.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

COR has been the subject of several analyst reports. Wells Fargo & Company upped their target price on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Robert W. Baird decreased their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a report on Friday, September 6th. JPMorgan Chase & Co. lifted their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Leerink Partners reduced their target price on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Finally, Evercore ISI lowered their price target on shares of Cencora from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.44.

Cencora Stock Up 0.1 %

Shares of Cencora stock traded up $0.28 during trading on Monday, reaching $237.71. The company had a trading volume of 136,853 shares, compared to its average volume of 1,417,409. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. Cencora, Inc. has a fifty-two week low of $182.75 and a fifty-two week high of $247.66. The firm’s fifty day moving average is $232.38 and its 200-day moving average is $230.95. The company has a market cap of $47.41 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 1.40 and a beta of 0.44.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.16. The firm had revenue of $74.20 billion for the quarter, compared to analysts’ expectations of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. Cencora’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.92 earnings per share. On average, analysts anticipate that Cencora, Inc. will post 13.63 EPS for the current year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Friday, August 9th. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

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.