Cooper Financial Group Acquires Shares of 1,006 Cencora, Inc. $COR

Key Points

• Cooper Financial Group has acquired a new stake in Cencora, Inc. by buying 1,006 shares valued at approximately $302,000 during the second quarter.
• Corporate insiders, including Chairman Steven H. Collis and CEO Robert P. Mauch, recently sold a total of 55,993 shares of Cencora's stock, indicating a decline in their ownership stakes.
• Cencora announced a quarterly dividend of $0.55 per share, translating to an annualized payout of $2.20 with a yield of 0.7%.

Cooper Financial Group acquired a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,006 shares of the company's stock, valued at approximately $302,000.

A number of other hedge funds also recently bought and sold shares of COR. Cornerstone Planning Group LLC lifted its stake in Cencora by 106.7% during the first 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. purchased a new stake in Cencora during the first quarter valued at about $28,000. Costello Asset Management INC acquired a new position in shares of Cencora in the 1st quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Cencora in the 1st quarter valued at about $39,000. Finally, Golden State Wealth Management LLC increased its holdings in shares of 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 purchasing an additional 104 shares during the period. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cencora

In related news, Chairman Steven H. Collis sold 31,350 shares of Cencora stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total value of $9,087,111.00. Following the completion of the sale, the chairman directly owned 305,913 shares in the company, valued at $88,671,942.18. This trade represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert P. Mauch sold 5,097 shares of the firm's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $290.00, for a total value of $1,478,130.00. Following the transaction, the chief executive officer owned 39,274 shares in the company, valued at approximately $11,389,460. This trade represents a 11.49% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,993 shares of company stock valued at $16,292,923. Corporate insiders own 10.80% of the company's stock.

Cencora Stock Down 0.9%

Shares of NYSE COR opened at $308.89 on Friday. The stock has a market cap of $59.89 billion, a PE ratio of 31.78, a PEG ratio of 1.46 and a beta of 0.63. The business has a fifty day moving average of $294.44 and a two-hundred day moving average of $289.82. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $315.23. 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 (NYSE:COR - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, beating 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 company had revenue of $80.66 billion during the quarter, compared to analyst estimates of $80.34 billion. During the same period last year, the company posted $3.34 earnings per share. The firm's quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora's dividend payout ratio (DPR) is presently 22.63%.

Analyst Ratings Changes

A number of equities analysts recently commented on COR shares. Wells Fargo & Company increased their price objective on Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Jefferies Financial Group increased their price target on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a report on Monday, June 30th. Finally, Morgan Stanley set a $330.00 price target on Cencora and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cencora currently has a consensus rating of "Moderate Buy" and an average target price of $311.25.

About Cencora

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.

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