Howard Capital Management LLC Acquires 16,374 Shares of Cencora, Inc. $COR

by · The Markets Daily

Howard Capital Management LLC grew its stake in shares of Cencora, Inc. (NYSE:COR – Free Report) by 1,141.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,808 shares of the company’s stock after buying an additional 16,374 shares during the quarter. Howard Capital Management LLC’s holdings in Cencora were worth $5,347,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of COR. BlackRock Inc. purchased a new stake in Cencora during the 2nd quarter valued at about $5,154,136,000. T. Rowe Price Investment Management Inc. grew its position in Cencora by 160.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock worth $2,262,956,000 after acquiring an additional 4,123,795 shares during the last quarter. Bank of America Corp DE increased its stake in Cencora by 6.9% in the 1st quarter. Bank of America Corp DE now owns 4,138,388 shares of the company’s stock worth $1,300,033,000 after purchasing an additional 267,318 shares during the period. Amundi increased its stake in Cencora by 43.5% in the 2nd quarter. Amundi now owns 2,229,326 shares of the company’s stock worth $630,855,000 after purchasing an additional 676,066 shares during the period. Finally, Carmignac Gestion increased its stake in Cencora by 58.7% in the 2nd quarter. Carmignac Gestion now owns 1,747,363 shares of the company’s stock worth $494,463,000 after purchasing an additional 646,112 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Trading Down 0.3%

NYSE:COR traded down $0.87 during mid-day trading on Friday, reaching $340.54. 1,978,868 shares of the company’s stock traded hands, compared to its average volume of 1,282,490. Cencora, Inc. has a 12-month low of $244.82 and a 12-month high of $377.54. The firm has a market capitalization of $64.99 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 1.75 and a beta of 0.58. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. The company has a 50 day moving average price of $320.38 and a 200-day moving average price of $303.34.

Cencora (NYSE:COR – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, beating analysts’ consensus estimates of $4.35 by $0.13. Cencora had a return on equity of 125.45% and a net margin of 0.79%. The business had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. During the same quarter in the prior year, the company posted $4.00 EPS. Cencora’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts predict that Cencora, Inc. will post 17.87 earnings per share for the current year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, August 14th. Cencora’s dividend payout ratio is currently 17.83%.

Wall Street Analyst Weigh In

Several analysts have weighed in on COR shares. Bank of America boosted their price objective on Cencora from $285.00 to $310.00 in a research report on Tuesday, July 21st. Argus decreased their target price on shares of Cencora to $340.00 and set a “buy” rating on the stock in a research note on Tuesday, June 23rd. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Citigroup reiterated a “buy” rating on shares of Cencora in a report on Thursday, August 6th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $330.00 price target on shares of Cencora in a research report on Tuesday, September 8th. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and a consensus target price of $363.81.

Get Our Latest Stock Analysis on Cencora

Insider Activity at Cencora

In related news, EVP Elizabeth Campbell sold 11,300 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president owned 19,455 shares in the company, valued at $6,305,754.60. This represents a 36.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

Cencora Company Profile

(Free Report)

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical solutions company that sources, distributes and supports the delivery of medicines and healthcare products. The company serves pharmaceutical manufacturers, healthcare providers, pharmacies and animal-health customers through its supply-chain and commercialization services.

Its activities include pharmaceutical and specialty-product distribution, manufacturer services, specialty logistics, clinical-trial support, patient-support programs and other services designed to help bring medicines to market and improve access to treatment.

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