Ascent Group LLC Acquires 868 Shares of Cencora, Inc. $COR

Ascent Group LLC boosted its holdings in shares of Cencora, Inc. (NYSE:COR) by 6.9% in the 2nd quarter, Holdings Channel reports. The firm owned 13,454 shares of the company’s stock after buying an additional 868 shares during the period. Ascent Group LLC’s holdings in Cencora were worth $4,034,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COR. Cornerstone Planning Group LLC increased its holdings in shares of Cencora by 106.7% during the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock worth $26,000 after buying an additional 48 shares in the last quarter. Hoey Investments Inc. acquired a new position in shares of Cencora during the first quarter worth $28,000. Costello Asset Management INC acquired a new position in shares of Cencora during the first quarter worth $28,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Cencora during the first quarter worth $39,000. Finally, Golden State Wealth Management LLC increased its holdings in shares of Cencora by 157.6% during the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock worth $47,000 after buying an additional 104 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Cencora Stock Performance

NYSE COR opened at $302.54 on Friday. The company 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 twelve month low of $218.65 and a twelve month high of $315.23. The stock has a fifty day simple moving average of $294.68 and a 200 day simple moving average of $290.25. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64.

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

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were given 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 yield of 0.7%. Cencora’s dividend payout ratio is 22.63%.

Insiders Place Their Bets

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

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.