QRG Capital Management Inc. Has $6.19 Million Stock Position in Cencora, Inc. $COR

QRG Capital Management Inc. grew its stake in shares of Cencora, Inc. (NYSE:COR) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,646 shares of the company’s stock after purchasing an additional 431 shares during the period. QRG Capital Management Inc.’s holdings in Cencora were worth $6,191,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Stock Yards Bank & Trust Co. grew its position in Cencora by 4.8% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 1,387 shares of the company’s stock valued at $416,000 after purchasing an additional 64 shares during the period. Ascent Group LLC grew its position in Cencora by 6.9% in the 2nd quarter. Ascent Group LLC now owns 13,454 shares of the company’s stock valued at $4,034,000 after purchasing an additional 868 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Cencora in the 2nd quarter valued at $157,000. Hilltop National Bank acquired a new stake in Cencora in the 2nd quarter valued at $168,000. Finally, Triad Wealth Partners LLC grew its position in Cencora by 5.1% in the 2nd quarter. Triad Wealth Partners LLC now owns 2,185 shares of the company’s stock valued at $655,000 after purchasing an additional 107 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Transactions at Cencora

In related news, CEO Robert P. Mauch sold 5,097 shares of the business’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 directly owned 39,274 shares in the company, valued at approximately $11,389,460. The trade was a 11.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 31,350 shares of the business’s stock in a transaction dated 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 sale, the chairman owned 305,913 shares in the company, valued at $88,671,942.18. This represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,993 shares of company stock worth $16,292,923 over the last 90 days. 10.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on COR. Weiss Ratings reissued a “buy (b)” rating on shares of Cencora in a research report on Saturday, September 27th. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Jefferies Financial Group raised their price objective on Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research note on Monday, June 30th. Finally, Wells Fargo & Company raised their price objective on Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $311.25.

Cencora Trading Down 2.0%

NYSE COR opened at $302.54 on Monday. The stock has a market capitalization of $58.66 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 1.41 and a beta of 0.63. Cencora, Inc. has a one year low of $218.65 and a one year high of $315.23. 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 business’s fifty day moving average is $294.68 and its 200-day moving average is $290.41.

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

Cencora Dividend Announcement

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

About Cencora

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.