United Services Automobile Association Buys Shares of 3,874 Cencora, Inc. $COR

Key Points

• United Services Automobile Association acquired 3,874 shares of Cencora, Inc. valued at approximately $1.066 million, representing a new stake in the company during the first quarter.
• Cencora reported $80.66 billion in revenue for the last quarter, surpassing analysts’ expectations and marking an 8.7% increase compared to the same period the previous year.
• The company recently announced a quarterly dividend of $0.55 per share, contributing to an annualized dividend yield of 0.7% with a payout ratio of 22.63%.

United Services Automobile Association purchased a new position in Cencora, Inc. (NYSE:COR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,874 shares of the company's stock, valued at approximately $1,066,000.

Other institutional investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC increased its stake in Cencora by 106.7% in the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after purchasing an additional 48 shares during the period. Hoey Investments Inc. bought a new stake in shares of Cencora in the first quarter valued at about $28,000. Costello Asset Management INC bought a new stake in shares of Cencora in the first quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Cencora in the first quarter valued at about $39,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Cencora in the fourth quarter valued at about $38,000. 97.52% of the stock is currently owned by institutional investors.

Cencora Price Performance

Shares of COR stock traded up $0.03 during trading hours on Friday, hitting $302.83. 1,189,360 shares of the company's stock were exchanged, compared to its average volume of 1,317,955. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. The firm has a market cap of $58.71 billion, a P/E ratio of 31.16, a P/E/G ratio of 1.44 and a beta of 0.62. The firm has a 50 day moving average of $293.24 and a two-hundred day moving average of $286.00. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 EPS 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 during the quarter, compared to the consensus estimate of $80.34 billion. During the same period in the prior year, the company earned $3.34 EPS. The firm's revenue was up 8.7% compared to the same quarter last year. Sell-side analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. Cencora's dividend payout ratio (DPR) is 22.63%.

Analysts Set New Price Targets

COR has been the subject of several recent research reports. Jefferies Financial Group lifted their price objective on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a report on Monday, June 30th. 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. Finally, Wells Fargo & Company boosted their target price on shares of Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Cencora presently has an average rating of "Moderate Buy" and an average target price of $311.25.

Insider Activity

In related news, Chairman Steven H. Collis sold 14,579 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the completion of the sale, the chairman directly owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. This trade represents a 4.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert P. Mauch sold 4,968 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $294.11, for a total value of $1,461,138.48. Following the sale, the chief executive officer directly owned 42,351 shares of the company's stock, valued at $12,455,852.61. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,125 shares of company stock worth $9,993,789 over the last quarter. 10.80% of the stock is currently owned by company insiders.

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.