Dimensional Fund Advisors LP Raises Stock Holdings in Cencora, Inc. $COR

Key Points

• Dimensional Fund Advisors LP increased its holdings in Cencora, Inc. by 2.1%, now owning approximately 1,543,145 shares valued at $429 million.
• Cencora recently reported earnings per share of $4.00, exceeding analysts' estimates of $3.79, with revenue of $80.66 billion for the quarter.
• The company announced a quarterly dividend of $0.55, representing an annualized yield of 0.8%, to be paid on September 3rd to shareholders of record on August 15th.

Dimensional Fund Advisors LP raised its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 2.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,543,145 shares of the company's stock after buying an additional 32,141 shares during the quarter. Dimensional Fund Advisors LP owned about 0.80% of Cencora worth $429,107,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its holdings in Cencora by 106.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock valued at $26,000 after buying an additional 48 shares in the last quarter. Hoey Investments Inc. bought a new stake in shares of Cencora during the 1st quarter valued at about $28,000. Costello Asset Management INC bought a new stake in shares of Cencora during the 1st quarter valued at about $28,000. Banque Transatlantique SA bought a new stake in shares of Cencora during the 4th quarter valued at about $29,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in shares of Cencora during the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on COR. Jefferies Financial Group lifted their price target on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Citigroup lifted their price target on Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. UBS Group lifted their price target on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Wells Fargo & Company lifted their price target on Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Finally, Morgan Stanley set a $330.00 target price on Cencora and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $311.25.

Insider Buying and Selling at Cencora

In related news, Chairman Steven H. Collis sold 14,578 shares of the company's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $292.67, for a total value of $4,266,543.26. Following the sale, the chairman directly owned 309,913 shares of the company's stock, valued at $90,702,237.71. This represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert P. Mauch sold 4,968 shares of the company's stock in a transaction 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 completion of the sale, the chief executive officer directly owned 42,351 shares in the company, valued at approximately $12,455,852.61. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,125 shares of company stock worth $9,993,789. 10.80% of the stock is owned by insiders.

Cencora Price Performance

NYSE:COR traded up $1.0050 during mid-day trading on Thursday, reaching $304.6950. The stock had a trading volume of 360,333 shares, compared to its average volume of 1,551,674. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35. The firm has a 50 day moving average price of $293.37 and a two-hundred day moving average price of $279.82. The stock has a market capitalization of $59.07 billion, a P/E ratio of 31.34, a P/E/G ratio of 1.40 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last posted its 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 firm had revenue of $80.66 billion for the quarter, compared to analysts' expectations of $80.34 billion. During the same period in the previous year, the firm earned $3.34 earnings per share. The business's revenue was up 8.7% compared to the same quarter last year. As a group, analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

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

Cencora Company 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.