MBB Public Markets I LLC Grows Stock Holdings in Cencora, Inc. (NYSE:COR)

MBB Public Markets I LLC increased its stake in Cencora, Inc. (NYSE:COR) by 920.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,648 shares of the company’s stock after purchasing an additional 11,408 shares during the quarter. MBB Public Markets I LLC’s holdings in Cencora were worth $2,850,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in COR. Financial Advocates Investment Management increased its holdings in Cencora by 4.7% during the second quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock valued at $220,000 after buying an additional 44 shares during the last quarter. Checchi Capital Advisers LLC lifted its position in Cencora by 2.2% during the second quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock valued at $499,000 after purchasing an additional 48 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in Cencora by 3.4% during the second 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 during the period. Evergreen Capital Management LLC raised its stake in shares of Cencora by 4.7% in the second quarter. Evergreen Capital Management LLC now owns 1,147 shares of the company’s stock worth $258,000 after buying an additional 52 shares during the period. Finally, Barlow Wealth Partners Inc. lifted its position in shares of Cencora by 5.4% during the 2nd quarter. Barlow Wealth Partners Inc. now owns 1,339 shares of the company’s stock valued at $303,000 after buying an additional 68 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

Cencora Price Performance

NYSE:COR opened at $224.92 on Friday. The business’s 50-day moving average is $234.96 and its 200 day moving average is $232.73. Cencora, Inc. has a 12 month low of $178.21 and a 12 month high of $247.66. The company has a market capitalization of $44.86 billion, a P/E ratio of 24.61, a P/E/G ratio of 1.58 and a beta of 0.44. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93.

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

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a $0.51 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.91%. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

Insider Activity

In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at $63,323,746.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction dated Tuesday, August 6th. The shares were 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 of the company’s stock, valued at approximately $2,656,970.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 sale, the chief executive officer now directly owns 285,088 shares in the company, valued at $63,323,746.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,450,399 shares of company stock worth $1,070,392,799. 15.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Bank of America restated a “neutral” rating and set a $245.00 target price (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Wells Fargo & Company raised their price target on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Finally, Leerink Partners reaffirmed an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a research note on Thursday, June 27th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and an average target price 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.