BayBridge Capital Group LLC Buys 139 Shares of Cencora, Inc. $COR

BayBridge Capital Group LLC grew its holdings in shares of Cencora, Inc. (NYSE:COR) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,830 shares of the company’s stock after acquiring an additional 139 shares during the period. Cencora accounts for approximately 1.1% of BayBridge Capital Group LLC’s investment portfolio, making the stock its 25th biggest holding. BayBridge Capital Group LLC’s holdings in Cencora were worth $1,748,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in COR. Centaurus Financial Inc. grew its position in shares of Cencora by 37.5% during the 4th quarter. Centaurus Financial Inc. now owns 2,462 shares of the company’s stock valued at $553,000 after acquiring an additional 672 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in Cencora by 19.5% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 895 shares of the company’s stock worth $249,000 after purchasing an additional 146 shares during the period. Bath Savings Trust Co purchased a new position in Cencora in the 1st quarter valued at approximately $239,000. GAMMA Investing LLC raised its holdings in shares of Cencora by 43,561.9% in the first quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company’s stock valued at $444,516,000 after buying an additional 1,594,800 shares during the last quarter. Finally, Summit Global Investments grew its position in Cencora by 20.1% during the first quarter. Summit Global Investments now owns 1,586 shares of the company’s stock worth $441,000 after buying an additional 265 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Stock Up 2.7%

Shares of Cencora stock opened at $306.94 on Friday. The company’s 50 day moving average price is $293.00 and its 200-day moving average price is $288.59. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. The stock has a market capitalization of $59.51 billion, a price-to-earnings ratio of 31.58, a P/E/G ratio of 1.56 and a beta of 0.62. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $310.00.

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

Cencora Dividend Announcement

The firm also recently announced 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 was Friday, August 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. Cencora’s dividend payout ratio (DPR) is currently 22.63%.

Analysts Set New Price Targets

Several brokerages have weighed in on COR. Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Jefferies Financial Group increased their price target on shares of Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a report on Monday, June 30th. Finally, Wells Fargo & Company raised their price objective on shares of Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and an average target price of $311.25.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction 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 sale, 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 document filed with the SEC, which is accessible through the SEC website. Also, CEO Robert P. Mauch sold 5,097 shares of the business’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. The trade was a 11.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,993 shares of company stock valued at $16,292,923. 10.80% of the stock is currently owned by 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.