MQS Management LLC Invests $801,000 in Cencora, Inc. (NYSE:COR)

MQS Management LLC bought a new stake in shares of Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,557 shares of the company’s stock, valued at approximately $801,000. Cencora makes up 0.5% of MQS Management LLC’s holdings, making the stock its 25th biggest position.

Other hedge funds have also recently bought and sold shares of the company. Kingswood Wealth Advisors LLC acquired a new position in shares of Cencora in the 2nd quarter worth approximately $655,000. TD Asset Management Inc bought a new position in shares of Cencora in the first quarter valued at $95,313,000. LSV Asset Management acquired a new stake in shares of Cencora during the 1st quarter valued at $3,579,000. Cairn Investment Group Inc. bought a new stake in shares of Cencora during the 1st quarter worth $2,294,000. Finally, Lake Street Advisors Group LLC acquired a new position in shares of Cencora in the 1st quarter worth $836,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Stock Down 2.6 %

COR stock opened at $228.48 on Thursday. The company has a 50 day moving average of $234.64 and a two-hundred day moving average of $233.23. The company has a market cap of $45.57 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 1.55 and a beta of 0.44. Cencora, Inc. has a 12-month low of $178.21 and a 12-month high of $247.66. The company has a quick ratio of 0.55, a current ratio of 0.89 and a debt-to-equity ratio of 3.93.

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, topping the consensus estimate of $3.18 by $0.16. The business had revenue of $74.20 billion during the quarter, compared to analyst estimates of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. Cencora’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $2.92 earnings per share. On average, equities analysts anticipate that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 annualized dividend and a dividend yield of 0.89%. Cencora’s dividend payout ratio is 22.32%.

Insider Activity at Cencora

In other Cencora news, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value of $357,482.37. Following the completion of the sale, the executive vice president now directly owns 10,948 shares in the company, valued at $2,656,970.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the transaction, the executive vice president now owns 10,948 shares in the company, valued at approximately $2,656,970.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven H. Collis sold 10,755 shares of Cencora stock in a transaction on 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 of the company’s stock, valued at approximately $63,323,746.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,450,399 shares of company stock valued at $1,070,392,799. 15.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

COR has been the subject of a number of recent analyst reports. Leerink Partners reiterated an “outperform” rating and issued a $275.00 price target on shares of Cencora in a research report on Thursday, June 27th. Wells Fargo & Company raised their target price on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Robert W. Baird cut their target price on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $256.67.

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.