Sage Rhino Capital LLC Invests $213,000 in Cencora, Inc. $COR

Sage Rhino Capital LLC purchased a new stake in Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 712 shares of the company’s stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds also recently modified their holdings of COR. Price T Rowe Associates Inc. MD increased its position in Cencora by 8.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company’s stock worth $2,682,821,000 after purchasing an additional 787,858 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Cencora by 7.2% during the 1st quarter. Wellington Management Group LLP now owns 5,421,262 shares of the company’s stock valued at $1,507,599,000 after buying an additional 363,402 shares during the period. Boston Partners increased its holdings in shares of Cencora by 8.1% during the 1st quarter. Boston Partners now owns 5,411,193 shares of the company’s stock worth $1,505,984,000 after buying an additional 404,093 shares during the last quarter. Invesco Ltd. raised its position in shares of Cencora by 42.1% in the 1st quarter. Invesco Ltd. now owns 4,607,964 shares of the company’s stock worth $1,281,429,000 after buying an additional 1,364,433 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Cencora by 9.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,711,281 shares of the company’s stock valued at $475,890,000 after acquiring an additional 154,311 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Stock Performance

COR opened at $306.94 on Monday. The business has a 50 day moving average price of $293.00 and a two-hundred day moving average price of $288.82. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. The company has a market capitalization of $59.51 billion, a price-to-earnings ratio of 31.58, a price-to-earnings-growth ratio of 1.56 and a beta of 0.62. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $310.00.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The business had revenue of $80.66 billion for the quarter, compared to analysts’ expectations of $80.34 billion. During the same period in the previous year, the firm posted $3.34 EPS. The company’s quarterly revenue was up 8.7% on a year-over-year basis. Research analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

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

Wall Street Analyst Weigh In

COR has been the topic of several research reports. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Wells Fargo & Company boosted their price target on Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Finally, Jefferies Financial Group upped their target price on shares of Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research note on Monday, June 30th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $311.25.

Insider Activity

In other news, Chairman Steven H. Collis sold 31,350 shares of the firm’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the transaction, the chairman owned 305,913 shares in the company, valued at approximately $88,671,942.18. This trade represents a 9.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert P. Mauch sold 5,097 shares of the company’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $290.00, for a total value of $1,478,130.00. Following the sale, the chief executive officer owned 39,274 shares of the company’s stock, valued at approximately $11,389,460. This trade represents a 11.49% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,993 shares of company stock valued at $16,292,923. 10.80% of the stock is owned by corporate 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.