Cencora, Inc. $COR Shares Acquired by Assetmark Inc.

Key Points

• Assetmark Inc. raised its stake in Cencora by 57% in Q4, buying 24,431 shares to own 67,281 shares worth about $22.724 million, and institutional/hedge funds now hold 97.52% of the stock.
• Q4 results: Cencora reported EPS of $4.08 (beat by $0.04) while revenue of $85.93 billion slightly missed estimates, and the company pays a $0.60 quarterly dividend (annualized yield ~0.8%).
• Analyst sentiment: The consensus is a "Moderate Buy" with 12 Buys and 2 Holds and an average price target of $398.17, with several firms recently raising ratings and targets.

Assetmark Inc. lifted its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 57.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 67,281 shares of the company's stock after buying an additional 24,431 shares during the quarter. Assetmark Inc.'s holdings in Cencora were worth $22,724,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in COR. Steph & Co. increased its holdings in Cencora by 72.2% in the fourth quarter. Steph & Co. now owns 136 shares of the company's stock valued at $46,000 after buying an additional 57 shares during the last quarter. Retirement Guys Formula LLC increased its holdings in Cencora by 10.1% in the fourth quarter. Retirement Guys Formula LLC now owns 8,871 shares of the company's stock valued at $2,996,000 after buying an additional 817 shares during the last quarter. Stanley Laman Group Ltd. increased its holdings in Cencora by 6.1% in the fourth quarter. Stanley Laman Group Ltd. now owns 13,291 shares of the company's stock valued at $4,489,000 after buying an additional 769 shares during the last quarter. Choreo LLC increased its holdings in Cencora by 5.3% in the fourth quarter. Choreo LLC now owns 4,236 shares of the company's stock valued at $1,440,000 after buying an additional 215 shares during the last quarter. Finally, Carnegie Investment Counsel increased its holdings in Cencora by 12.1% in the fourth quarter. Carnegie Investment Counsel now owns 1,704 shares of the company's stock valued at $576,000 after buying an additional 184 shares during the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Trading Down 0.8%

Shares of Cencora stock opened at $317.22 on Thursday. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.51 and a current ratio of 0.92. The company has a market capitalization of $61.71 billion, a P/E ratio of 38.13, a PEG ratio of 1.49 and a beta of 0.72. Cencora, Inc. has a 1 year low of $271.00 and a 1 year high of $377.54. The company's fifty day moving average is $343.36 and its two-hundred day moving average is $342.88.

Cencora (NYSE:COR - Get Free Report) last announced its earnings results on Wednesday, February 4th. The company reported $4.08 EPS for the quarter, beating analysts' consensus estimates of $4.04 by $0.04. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The business had revenue of $85.93 billion during the quarter, compared to analysts' expectations of $86.12 billion. During the same period in the prior year, the company earned $3.73 earnings per share. The business's revenue was up 5.5% compared to the same quarter last year. Analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. Cencora's dividend payout ratio (DPR) is currently 28.85%.

Insider Activity

In related news, CEO Robert P. Mauch sold 5,096 shares of the firm's stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $354.73, for a total transaction of $1,807,704.08. Following the transaction, the chief executive officer owned 66,726 shares of the company's stock, valued at $23,669,713.98. This trade represents a 7.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on COR. Jefferies Financial Group raised Cencora from an "underperform" rating to a "buy" rating in a report on Thursday, January 22nd. Barclays increased their target price on Cencora from $400.00 to $425.00 and gave the company an "overweight" rating in a report on Friday, February 13th. Robert W. Baird set a $415.00 price objective on Cencora in a report on Tuesday, January 13th. Weiss Ratings raised Cencora from a "hold (c+)" rating to a "buy (b)" rating in a report on Thursday, February 5th. Finally, Morgan Stanley set a $380.00 price objective on Cencora in a report on Tuesday, March 17th. Twelve investment analysts have rated the stock with a Buy rating and two have given 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 target price of $398.17.

Cencora Company Profile

Cencora NYSE: COR is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company's core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.

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