Cencora, Inc. $COR Stock: Leuthold Group LLC Grows Stake

Leuthold Group LLC increased its position in Cencora, Inc. (NYSE:COR) by 9.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,509 shares of the company’s stock after buying an additional 2,862 shares during the quarter. Leuthold Group LLC’s holdings in Cencora were worth $9,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fulcrum Asset Management LLP raised its position in Cencora by 152.8% in the 3rd quarter. Fulcrum Asset Management LLP now owns 130,835 shares of the company’s stock worth $40,245,000 after purchasing an additional 79,087 shares during the period. M Holdings Securities Inc. bought a new stake in Cencora in the third quarter worth $786,000. Brighton Jones LLC boosted its position in Cencora by 7.7% during the third quarter. Brighton Jones LLC now owns 1,467 shares of the company’s stock valued at $441,000 after buying an additional 105 shares during the period. Candriam S.C.A. boosted its position in Cencora by 15.9% during the third quarter. Candriam S.C.A. now owns 27,379 shares of the company’s stock valued at $8,251,000 after buying an additional 3,749 shares during the period. Finally, Ethic Inc. grew its stake in shares of Cencora by 22.0% during the third quarter. Ethic Inc. now owns 9,405 shares of the company’s stock valued at $2,824,000 after buying an additional 1,695 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on COR. Morgan Stanley lifted their price objective on Cencora from $346.00 to $377.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. JPMorgan Chase & Co. increased their target price on Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Citigroup restated a “buy” rating on shares of Cencora in a report on Thursday, August 6th. UBS Group reduced their price target on Cencora from $430.00 to $400.00 and set a “buy” rating on the stock in a research report on Friday, October 16th. Finally, Wells Fargo & Company lifted their price target on Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $366.50.

Insider Activity

In related news, EVP Elizabeth Campbell sold 11,300 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the transaction, the executive vice president owned 19,455 shares in the company, valued at $6,305,754.60. The trade was a 36.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.38% of the stock is owned by insiders.

Cencora Trading Up 3.8%

NYSE:COR opened at $346.16 on Tuesday. The firm has a market capitalization of $66.06 billion, a P/E ratio of 19.32, a P/E/G ratio of 1.84 and a beta of 0.58. The company has a quick ratio of 0.58, a current ratio of 0.94 and a debt-to-equity ratio of 3.01. The company has a fifty day moving average of $325.56 and a 200 day moving average of $317.25. Cencora, Inc. has a 52 week low of $244.82 and a 52 week high of $377.54.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $4.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.58 by $0.08. Cencora had a net margin of 1.03% and a return on equity of 110.72%. The business had revenue of $88.35 billion for the quarter, compared to analyst estimates of $87.95 billion. During the same quarter last year, the firm earned $3.84 EPS. The company’s revenue was up 5.5% on a year-over-year basis. On average, research analysts predict that Cencora, Inc. will post 19.58 earnings per share for the current year.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 13th will be issued a dividend of $0.66 per share. This is an increase from Cencora’s previous quarterly dividend of $0.60. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, November 13th. Cencora’s dividend payout ratio (DPR) is currently 13.39%.

About Cencora

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical services company that connects pharmaceutical manufacturers with healthcare providers. Its core business includes sourcing and distributing medicines and other healthcare products to pharmacies, hospitals, health systems and other care providers.

The company also provides services supporting specialty pharmaceuticals, including logistics, consulting and solutions for manufacturers and healthcare organizations. These services help manage the handling and delivery of complex medicines and support access to treatments.

Cencora serves customers in the United States and internationally.