MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 5,655 Shares of Cencora, Inc. $COR

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Cencora, Inc. by 12.3%, acquiring an additional 5,655 shares, bringing its total holdings to 51,588 shares valued at approximately $14.35 million as of the latest SEC filing.
• Cencora, Inc. reported a quarterly EPS of $4.00, exceeding analysts' expectations, and achieved revenue of $80.66 billion, up 8.7% year-on-year.
• The company declared a quarterly dividend of $0.55 per share, resulting in an annualized payout of $2.20, reflecting a dividend yield of 0.7%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 12.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,588 shares of the company's stock after purchasing an additional 5,655 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Cencora were worth $14,346,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of COR. Bernard Wealth Management Corp. bought a new stake in shares of Cencora during the fourth quarter valued at approximately $67,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Cencora by 28.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,407 shares of the company's stock valued at $1,215,000 after buying an additional 1,201 shares in the last quarter. Ethic Inc. boosted its stake in Cencora by 11.0% in the 4th quarter. Ethic Inc. now owns 9,536 shares of the company's stock valued at $2,143,000 after buying an additional 945 shares in the last quarter. Jefferies Financial Group Inc. boosted its stake in Cencora by 61.6% in the 4th quarter. Jefferies Financial Group Inc. now owns 9,375 shares of the company's stock valued at $2,106,000 after buying an additional 3,574 shares in the last quarter. Finally, Lighthouse Investment Partners LLC acquired a new stake in Cencora in the 4th quarter valued at $2,112,000. 97.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,968 shares of the 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 transaction, the chief executive officer owned 42,351 shares of the company's stock, valued at approximately $12,455,852.61. This represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total value of $4,266,106.98. Following the completion of the transaction, the chairman directly owned 311,913 shares in the company, valued at $91,271,982.06. The trade was a 4.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,125 shares of company stock worth $9,993,789 in the last ninety days. 10.80% of the stock is currently owned by insiders.

Cencora Trading Up 0.0%

Shares of COR traded up $0.03 during trading hours on Friday, hitting $302.83. 1,189,360 shares of the stock traded hands, compared to its average volume of 1,317,955. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $309.35. The firm has a market capitalization of $58.71 billion, a PE ratio of 31.16, a price-to-earnings-growth ratio of 1.44 and a beta of 0.62. The business has a fifty day moving average of $293.24 and a 200-day moving average of $286.00.

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. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The business had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. During the same quarter in the prior year, the firm posted $3.34 earnings per share. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. Analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

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

Analyst Upgrades and Downgrades

COR has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price target on Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Jefferies Financial Group boosted their price target on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, June 30th. Finally, Morgan Stanley set a $330.00 target price on Cencora and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $311.25.

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.