Ascent Group LLC Has $4.03 Million Holdings in Cencora, Inc. $COR

Key Points

• Ascent Group LLC increased its holdings in Cencora, Inc. by 6.9% during the second quarter, resulting in a total of 13,454 shares worth approximately $4.03 million.
• Cencora reported a significant earnings surprise, posting $4.00 EPS for the quarter, surpassing analyst expectations of $3.79, along with revenue of $80.66 billion.
• The company declared a quarterly dividend of $0.55, with a payout ratio of 22.63% and a current yield of 0.7% for investors of record as of August 15th.

Ascent Group LLC boosted its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 6.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,454 shares of the company's stock after buying an additional 868 shares during the quarter. Ascent Group LLC's holdings in Cencora were worth $4,034,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Ameritas Advisory Services LLC acquired a new position in Cencora during the second quarter worth approximately $157,000. Hilltop National Bank acquired a new position in Cencora during the second quarter worth approximately $168,000. Triad Wealth Partners LLC increased its position in Cencora by 5.1% during the second quarter. Triad Wealth Partners LLC now owns 2,185 shares of the company's stock worth $655,000 after buying an additional 107 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Cencora by 1.9% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,727 shares of the company's stock worth $12,812,000 after buying an additional 800 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its position in Cencora by 4.8% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 4,697 shares of the company's stock worth $1,408,000 after buying an additional 216 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Cencora Trading Down 2.0%

Shares of COR stock opened at $302.54 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. The stock has a market cap of $58.66 billion, a P/E ratio of 31.13, a price-to-earnings-growth ratio of 1.41 and a beta of 0.63. The stock has a 50 day simple moving average of $294.68 and a 200 day simple moving average of $290.25. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $315.23.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.21. The business had revenue of $80.66 billion during the quarter, compared to analysts' expectations of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.34 earnings per share. On average, research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

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

Insider Activity at Cencora

In related news, Chairman Steven H. Collis sold 31,350 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total value of $9,087,111.00. Following the completion of the sale, the chairman directly owned 305,913 shares in the company, valued at approximately $88,671,942.18. The trade was a 9.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 value of $1,478,130.00. Following the completion of the sale, the chief executive officer owned 39,274 shares of the company's stock, valued at approximately $11,389,460. This trade represents a 11.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,993 shares of company stock valued at $16,292,923. 10.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Morgan Stanley set a $330.00 price objective on Cencora and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Weiss Ratings restated a "buy (b)" rating on shares of Cencora in a report on Saturday, September 27th. Jefferies Financial Group boosted their price objective on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Finally, Wells Fargo & Company boosted their price objective on Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Ten equities research 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 a consensus rating of "Moderate Buy" and a consensus target price of $311.25.

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.

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