Cencora, Inc. $COR Shares Acquired by First Business Financial Services Inc.

Key Points

• First Business Financial Services has increased its stake in Cencora, Inc. by 7.2%, now holding 15,612 shares valued at approximately $4.68 million.
• Cencora reported earnings per share of $4.00 for the last quarter, surpassing expectations and showing an 8.7% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.55 per share, equivalent to a 0.7% yield, with a payout ratio of 22.63%.

First Business Financial Services Inc. grew its stake in Cencora, Inc. (NYSE:COR - Free Report) by 7.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,612 shares of the company's stock after buying an additional 1,053 shares during the period. Cencora accounts for 0.4% of First Business Financial Services Inc.'s investment portfolio, making the stock its 25th largest holding. First Business Financial Services Inc.'s holdings in Cencora were worth $4,681,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Voleon Capital Management LP acquired a new stake in Cencora during the 1st quarter worth $3,111,000. Focus Partners Wealth boosted its stake in Cencora by 25.8% during the 1st quarter. Focus Partners Wealth now owns 5,715 shares of the company's stock worth $1,589,000 after purchasing an additional 1,171 shares during the period. Martin Capital Partners LLC boosted its stake in Cencora by 205.2% during the 2nd quarter. Martin Capital Partners LLC now owns 3,784 shares of the company's stock worth $1,135,000 after purchasing an additional 2,544 shares during the period. Fiduciary Alliance LLC acquired a new stake in Cencora during the 2nd quarter worth $262,000. Finally, Ascent Group LLC boosted its stake in Cencora by 42.7% during the 1st quarter. Ascent Group LLC now owns 12,586 shares of the company's stock worth $3,500,000 after purchasing an additional 3,764 shares during the period. Institutional investors and hedge funds own 97.52% of the company's stock.

Cencora Stock Down 0.6%

Shares of Cencora stock opened at $328.98 on Friday. The firm has a fifty day moving average of $303.30 and a two-hundred day moving average of $294.47. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. The company has a market cap of $63.78 billion, a P/E ratio of 33.85, a PEG ratio of 1.55 and a beta of 0.63. Cencora, Inc. has a one year low of $223.92 and a one year high of $331.94.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) 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 net margin of 0.60% and a return on equity of 267.36%. The business's revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.34 EPS. On average, 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 Wednesday, September 3rd. Stockholders of record on Friday, August 15th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora's dividend payout ratio (DPR) is currently 22.63%.

Analyst Ratings Changes

A number of brokerages recently weighed in on COR. Evercore ISI set a $340.00 price target on shares of Cencora in a research note on Wednesday, October 8th. Mizuho increased their price target on shares of Cencora from $316.00 to $334.00 and gave the stock an "outperform" rating in a research note on Thursday, October 16th. Weiss Ratings reiterated a "buy (b)" rating on shares of Cencora in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Cencora from a "buy" rating to a "hold" rating in a research note on Saturday, October 11th. Finally, Wells Fargo & Company upped their price objective on shares of Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $324.91.

Insider Transactions at Cencora

In other news, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $326.80, for a total value of $1,665,699.60. Following the completion of the transaction, the chief executive officer owned 37,940 shares in the company, valued at $12,398,792. This trade represents a 11.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of the transaction, the chairman owned 305,913 shares of the company's stock, valued at $88,671,942.18. This represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,544 shares of company stock valued at $12,230,941 in the last quarter. Insiders own 10.80% of the company's stock.

Cencora 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.

Want to see what other hedge funds are holding COR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cencora, Inc. (NYSE:COR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.