Chevy Chase Trust Holdings LLC Boosts Holdings in Cencora, Inc. $COR

Chevy Chase Trust Holdings LLC increased its stake in shares of Cencora, Inc. (NYSE:COR) by 0.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 91,847 shares of the company’s stock after buying an additional 633 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Cencora were worth $27,540,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in COR. GAMMA Investing LLC increased its holdings in Cencora by 57.0% during the first quarter. GAMMA Investing LLC now owns 5,748 shares of the company’s stock worth $1,598,000 after buying an additional 2,087 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Cencora by 0.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 273,522 shares of the company’s stock worth $76,063,000 after buying an additional 1,884 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Cencora by 4.5% during the first quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company’s stock worth $307,000 after buying an additional 48 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in Cencora during the first quarter worth about $12,216,000. Finally, Cornerstone Wealth Management LLC purchased a new stake in Cencora during the first quarter worth about $202,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on COR. Mizuho raised their price objective on shares of Cencora from $316.00 to $334.00 and gave the stock an “outperform” rating in a report on Thursday. Evercore ISI set a $340.00 target price on shares of Cencora in a research report on Wednesday, October 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cencora in a research report on Wednesday, October 8th. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Finally, Jefferies Financial Group increased their target price on shares of Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research report on Monday, June 30th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $324.91.

Cencora Price Performance

COR stock opened at $324.83 on Friday. The firm has a 50 day moving average of $300.30 and a 200-day moving average of $293.14. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. Cencora, Inc. has a 12 month low of $223.92 and a 12 month high of $325.70. The firm has a market capitalization of $62.98 billion, a P/E ratio of 33.42, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, beating analysts’ consensus estimates of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The company had revenue of $80.66 billion during the quarter, compared to analyst estimates of $80.34 billion. During the same period last year, the business earned $3.34 earnings per share. Cencora’s revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora’s dividend payout ratio (DPR) is 22.63%.

Insider Buying and Selling

In other news, Chairman Steven H. Collis sold 31,350 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total value of $9,087,111.00. Following the completion of the transaction, the chairman directly owned 305,913 shares in the company, valued at approximately $88,671,942.18. This trade represents a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert P. Mauch sold 5,097 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the completion of the transaction, the chief executive officer owned 39,274 shares of the company’s stock, valued at $11,389,460. This trade represents a 11.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,025 shares of company stock valued at $14,831,784 over the last 90 days. 10.80% of the stock is owned by company insiders.

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.