Kendall Capital Management Purchases 430 Shares of Cencora, Inc. (NYSE:COR)

Kendall Capital Management grew its position in shares of Cencora, Inc. (NYSE:COR) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,084 shares of the company’s stock after buying an additional 430 shares during the quarter. Cencora accounts for approximately 1.3% of Kendall Capital Management’s investment portfolio, making the stock its 20th biggest holding. Kendall Capital Management’s holdings in Cencora were worth $3,849,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Fisher Asset Management LLC bought a new stake in shares of Cencora in the 4th quarter worth approximately $244,000. Trust Co. of Vermont bought a new stake in shares of Cencora in the 4th quarter worth approximately $62,000. Wahed Invest LLC bought a new stake in shares of Cencora in the 4th quarter worth approximately $567,000. Vanguard Group Inc. bought a new stake in shares of Cencora in the 4th quarter worth approximately $4,212,508,000. Finally, Hennessy Advisors Inc. bought a new stake in shares of Cencora in the 4th quarter worth approximately $3,307,000. Institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling

In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the completion of the sale, the chief executive officer now directly owns 285,088 shares in the company, valued at $63,323,746.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the company’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 transaction, the insider now directly owns 19,980,000 shares of the company’s stock, valued at $4,806,388,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Steven H. Collis sold 10,755 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the completion of the transaction, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at $63,323,746.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,450,399 shares of company stock worth $1,070,392,799. Corporate insiders own 15.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on COR shares. Robert W. Baird lowered their target price on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a report on Friday, September 6th. StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Leerink Partners reissued an “outperform” rating and set a $275.00 target price on shares of Cencora in a report on Thursday, June 27th. Bank of America reissued a “neutral” rating and set a $245.00 target price (down previously from $275.00) on shares of Cencora in a report on Wednesday. Finally, Wells Fargo & Company boosted their target price on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $256.67.

Cencora Stock Down 2.6 %

COR opened at $228.48 on Thursday. Cencora, Inc. has a one year low of $178.21 and a one year high of $247.66. The company has a fifty day moving average price of $234.64 and a 200-day moving average price of $233.23. The firm has a market capitalization of $45.57 billion, a P/E ratio of 25.00, a price-to-earnings-growth ratio of 1.55 and a beta of 0.44. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The company had revenue of $74.20 billion during the quarter, compared to analyst estimates of $73.32 billion. During the same period in the previous year, the business earned $2.92 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities research analysts expect that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a $0.51 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 annualized dividend and a yield of 0.89%. 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.