Charles Schwab Investment Management Inc. Raises Position in Cencora, Inc. (NYSE:COR)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Cencora, Inc. by 1.7% in the first quarter, owning approximately 0.54% of the company's shares valued at $290.83 million.
• Cencora recently announced a $0.55 quarterly dividend, translating to an annual yield of 0.8%, with the ex-dividend date set for August 15th.
• Shares of Cencora opened at $285.46, with a 12-month high of $309.35 and a reported 8.7% year-over-year revenue growth, totaling $80.66 billion for the last quarter.

Charles Schwab Investment Management Inc. grew its stake in Cencora, Inc. (NYSE:COR - Free Report) by 1.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,045,819 shares of the company's stock after acquiring an additional 17,948 shares during the period. Charles Schwab Investment Management Inc. owned about 0.54% of Cencora worth $290,832,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in COR. Cornerstone Planning Group LLC boosted 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 acquiring an additional 48 shares during the period. Hoey Investments Inc. purchased a new stake in Cencora during the 1st quarter worth approximately $28,000. Costello Asset Management INC purchased a new stake in Cencora during the 1st quarter worth approximately $28,000. Banque Transatlantique SA purchased a new stake in Cencora during the 4th quarter worth approximately $29,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Cencora in the first quarter valued at $39,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Robert P. Mauch sold 4,968 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the completion of the sale, the chief executive officer owned 42,351 shares in the company, valued at approximately $12,455,852.61. This represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the sale, the chairman owned 311,913 shares of the company's stock, valued at $91,271,982.06. This trade represents a 4.47% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,125 shares of company stock worth $9,993,789. 10.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. UBS Group increased their price objective on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Robert W. Baird increased their price objective on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Citigroup increased their price objective on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, Jefferies Financial Group increased their price objective on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $309.83.

Cencora Stock Performance

Shares of COR traded down $1.26 during midday trading on Tuesday, reaching $289.44. 1,935,511 shares of the stock were exchanged, compared to its average volume of 1,575,130. The business's 50-day moving average price is $292.48 and its 200 day moving average price is $278.30. 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, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35. The company has a market capitalization of $56.10 billion, a price-to-earnings ratio of 29.78, a PEG ratio of 1.35 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 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $80.34 billion. During the same quarter 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. On average, sell-side analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal 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 dividend on an annualized basis and a yield of 0.8%. Cencora's payout ratio is currently 22.63%.

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.