AG2R LA Mondiale Gestion D Actifs Acquires Shares of 6,559 Cencora, Inc. $COR

Key Points

• AG2R LA Mondiale Gestion D Actifs acquired a new stake in Cencora, Inc., purchasing 6,559 shares valued at approximately $1,910,000 in the 1st quarter.
• Cencora's stock received positive ratings from analysts, with a consensus rating of "Moderate Buy" and an average target price of $311.25.
• The company disclosed a quarterly dividend of $0.55 per share, representing a 0.7% dividend yield and a payout ratio of 22.63%.

AG2R LA Mondiale Gestion D Actifs purchased a new position in Cencora, Inc. (NYSE:COR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,559 shares of the company's stock, valued at approximately $1,910,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of COR. Bernard Wealth Management Corp. purchased a new stake in Cencora in the fourth quarter worth about $67,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Cencora by 10.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,933 shares of the company's stock worth $10,320,000 after buying an additional 4,224 shares in the last quarter. OMERS ADMINISTRATION Corp increased its position in Cencora by 21.6% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 7,192 shares of the company's stock worth $1,616,000 after buying an additional 1,279 shares in the last quarter. NorthRock Partners LLC purchased a new stake in Cencora in the fourth quarter worth about $534,000. Finally, Mufg Securities Americas Inc. purchased a new stake in Cencora in the fourth quarter worth about $582,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Insider Buying and Selling

In other Cencora news, CEO Robert P. Mauch sold 4,968 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the sale, the chief executive officer directly owned 42,351 shares in the company, valued at $12,455,852.61. This represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Steven H. Collis sold 14,578 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total value of $4,266,543.26. Following the sale, the chairman owned 309,913 shares in the company, valued at approximately $90,702,237.71. This trade represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,125 shares of company stock worth $9,993,789. Company insiders own 10.80% of the company's stock.

Cencora Price Performance

Shares of COR stock traded down $1.18 during trading hours on Wednesday, hitting $288.82. The stock had a trading volume of 1,681,666 shares, compared to its average volume of 1,555,764. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. The stock's 50-day moving average price is $292.88 and its two-hundred day moving average price is $286.29. The stock has a market capitalization of $56.00 billion, a price-to-earnings ratio of 29.71, a PEG ratio of 1.38 and a beta of 0.62.

Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $80.34 billion. During the same period in the previous year, the firm posted $3.34 earnings per share. The business's revenue was up 8.7% compared to the same quarter last year. Equities analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, August 15th. Cencora's payout ratio is presently 22.63%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on COR. Morgan Stanley set a $330.00 price objective on Cencora and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company boosted their price target on Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Finally, Jefferies Financial Group boosted their price target on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Cencora currently has an average rating of "Moderate Buy" and an average price target of $311.25.

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.