Oak Associates Ltd. OH Sells 1,002 Shares of Cencora, Inc. $COR

Key Points

• Oak Associates Ltd. OH has reduced its stake in Cencora, Inc. by 7.4%, now owning 12,451 shares valued at $3,462,000.
• Cencora's recent quarterly earnings report showed $4.00 earnings per share, surpassing analyst estimates, with an 8.7% revenue increase year-over-year.
• The company announced a quarterly dividend of $0.55 per share, indicating a 0.8% dividend yield, with a record date of August 15th.

Oak Associates Ltd. OH lessened its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 7.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,451 shares of the company's stock after selling 1,002 shares during the quarter. Oak Associates Ltd. OH's holdings in Cencora were worth $3,462,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Exchange Traded Concepts LLC grew its holdings in shares of Cencora by 4.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company's stock worth $307,000 after purchasing an additional 48 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its stake in Cencora by 6.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 1,535 shares of the company's stock valued at $427,000 after buying an additional 93 shares in the last quarter. GAMMA Investing LLC boosted its stake in Cencora by 57.0% in the 1st quarter. GAMMA Investing LLC now owns 5,748 shares of the company's stock valued at $1,598,000 after buying an additional 2,087 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in Cencora by 157.6% in the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock valued at $47,000 after buying an additional 104 shares in the last quarter. Finally, Integrated Advisors Network LLC acquired a new stake in Cencora in the 1st quarter valued at $200,000. Institutional investors and hedge funds own 97.52% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on COR. Morgan Stanley set a $330.00 price target on Cencora and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Citigroup boosted their target price on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Jefferies Financial Group boosted their target price on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. Wells Fargo & Company boosted their target price on Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Finally, Robert W. Baird boosted their target price on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $311.25.

Cencora Trading Up 1.1%

Shares of Cencora stock traded up $3.35 during trading hours on Tuesday, hitting $294.96. The company's stock had a trading volume of 352,102 shares, compared to its average volume of 1,544,850. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35. The stock has a 50 day moving average of $292.99 and a 200 day moving average of $282.75. The company has a market capitalization of $57.19 billion, a PE ratio of 30.38, a price-to-earnings-growth ratio of 1.38 and a beta of 0.62. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share 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 company had revenue of $80.66 billion during the quarter, compared to analysts' expectations of $80.34 billion. During the same period in the prior year, the firm earned $3.34 earnings per share. Cencora's revenue for the quarter was up 8.7% compared to the same quarter last year. Analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th will be paid a $0.55 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.20 annualized dividend and a yield of 0.7%. Cencora's dividend payout ratio is currently 22.63%.

Insider Activity at Cencora

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 value of $1,461,138.48. Following the sale, the chief executive officer 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 transaction was disclosed in a filing with the Securities & Exchange Commission, 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 completion of the sale, the chairman owned 309,913 shares in the company, valued at $90,702,237.71. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,125 shares of company stock worth $9,993,789 in the last 90 days. Corporate 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.