Los Angeles Capital Management LLC Invests $45.69 Million in Cencora, Inc. (NYSE:COR)

Los Angeles Capital Management LLC bought a new position in Cencora, Inc. (NYSE:COR) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 188,040 shares of the company’s stock, valued at approximately $45,692,000. Los Angeles Capital Management LLC owned about 0.09% of Cencora as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. purchased a new position in shares of Cencora in the 4th quarter worth approximately $4,212,508,000. Wahed Invest LLC purchased a new position in Cencora in the fourth quarter valued at approximately $567,000. Grayhawk Investment Strategies Inc. purchased a new position in Cencora in the fourth quarter valued at approximately $987,000. Versant Capital Management Inc purchased a new position in Cencora in the first quarter valued at approximately $168,000. Finally, Trust Co. of Vermont purchased a new position in Cencora in the fourth quarter valued at approximately $62,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Stock Up 1.1 %

COR opened at $237.20 on Thursday. The stock has a market cap of $47.31 billion, a PE ratio of 25.95, a P/E/G ratio of 1.63 and a beta of 0.48. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 3.41. Cencora, Inc. has a 52 week low of $171.65 and a 52 week high of $246.75. The business’s fifty day simple moving average is $229.45 and its 200 day simple moving average is $226.43.

Cencora (NYSE:COR) last released its earnings results on Wednesday, May 1st. The company reported $3.80 EPS for the quarter, beating analysts’ consensus estimates of $3.65 by $0.15. The business had revenue of $68.41 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.50 earnings per share. As a group, research analysts expect that Cencora, Inc. will post 13.44 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.04 annualized dividend and a yield of 0.86%. Cencora’s payout ratio is 22.32%.

Analysts Set New Price Targets

COR has been the topic of a number of analyst reports. Leerink Partnrs reissued an “outperform” rating on shares of Cencora in a report on Monday, February 26th. Citigroup boosted their target price on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. StockNews.com cut shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. SVB Leerink initiated coverage on shares of Cencora in a report on Monday, February 26th. They set an “outperform” rating and a $261.00 target price on the stock. Finally, Robert W. Baird boosted their target price on shares of Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $233.90.

Insider Buying and Selling at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the completion of the sale, the insider now directly owns 24,418,171 shares in the company, valued at $5,252,836,945.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, COO Robert P. Mauch sold 57,564 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $235.09, for a total transaction of $13,532,720.76. Following the completion of the sale, the chief operating officer now directly owns 24,412 shares in the company, valued at $5,739,017.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the sale, the insider now owns 24,418,171 shares of the company’s stock, valued at $5,252,836,945.52. The disclosure for this sale can be found here. Insiders sold a total of 1,956,675 shares of company stock worth $422,352,056 over the last three months. Company insiders own 15.80% of the company’s stock.

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.