Latitude Advisors LLC Purchases 2,734 Shares of Cencora, Inc. $COR

Latitude Advisors LLC purchased a new position in shares of Cencora, Inc. (NYSE:COR) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,734 shares of the company’s stock, valued at approximately $821,000.

Other large investors have also modified their holdings of the company. BlackRock Inc. bought a new stake in Cencora in the 2nd quarter valued at about $5,154,136,000. Bank of America Corp DE acquired a new position in Cencora during the 2nd quarter valued at about $1,056,625,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Cencora in the 2nd quarter worth about $483,772,000. Legal & General Group Plc bought a new position in Cencora in the 2nd quarter worth about $339,556,000. Finally, The Manufacturers Life Insurance Company bought a new position in Cencora in the 2nd quarter worth about $313,668,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Price Performance

COR opened at $325.09 on Wednesday. The business has a fifty day simple moving average of $322.60 and a 200 day simple moving average of $317.67. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. The company has a market capitalization of $62.04 billion, a PE ratio of 24.15 and a beta of 0.58.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.35 by $0.13. The company had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. Cencora’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.00 earnings per share. Equities analysts anticipate that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Dividend Announcement

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

Insider Activity

In other Cencora news, EVP Elizabeth Campbell sold 11,300 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $324.12, for a total value of $3,662,556.00. Following the sale, the executive vice president owned 19,455 shares of the company’s stock, valued at approximately $6,305,754.60. This trade represents a 36.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on COR. Wells Fargo & Company raised their price objective on shares of Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Robert W. Baird upped their target price on Cencora from $373.00 to $375.00 and gave the company an “outperform” rating in a research note on Thursday, October 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Morgan Stanley raised their price target on Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Weiss Ratings raised shares of Cencora from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, October 6th. Fourteen equities research 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 price target of $366.44.

Cencora Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical sourcing and distribution company. It provides branded, generic and specialty pharmaceuticals, over-the-counter products and related health care supplies to pharmacies, hospitals, health systems, physician practices and other health care providers.

The company also offers services to pharmaceutical and biotechnology manufacturers, including logistics, commercialization support, market access, consulting, clinical trial support and patient assistance programs.