Counterpoint Mutual Funds LLC Acquires Shares of 6,359 Cencora, Inc. $COR

Key Points

• Counterpoint Mutual Funds LLC acquired 6,359 shares of Cencora, Inc. (NYSE: COR), valued at approximately $1.9 million, during the 2nd quarter.
• Insider sales reported included CEO Robert P. Mauch selling 5,097 shares and Chairman Steven H. Collis selling 31,350 shares, which led to an 11.49% and 9.30% decrease in their respective ownership stakes.
• Cencora recently announced a quarterly dividend of $0.55, resulting in an annualized dividend yield of 0.8%, with a payout ratio of 22.63%.

Counterpoint Mutual Funds LLC acquired a new stake in Cencora, Inc. (NYSE:COR - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 6,359 shares of the company's stock, valued at approximately $1,907,000.

Several other institutional investors and hedge funds have also recently modified their holdings of COR. Cornerstone Planning Group LLC increased its holdings in shares of Cencora by 106.7% in the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock valued at $26,000 after purchasing an additional 48 shares during the last quarter. Hoey Investments Inc. acquired a new position in shares of Cencora in the first quarter valued at $28,000. Costello Asset Management INC acquired a new position in shares of Cencora in the first quarter valued at $28,000. Vermillion Wealth Management Inc. acquired a new position in shares of Cencora in the fourth quarter valued at $38,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in shares of Cencora in the first quarter valued at $39,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cencora

In other news, CEO Robert P. Mauch sold 5,097 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 39,274 shares of the company's stock, valued at $11,389,460. This represents a 11.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 31,350 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total value of $9,087,111.00. Following the completion of the transaction, the chairman directly owned 305,913 shares of the company's stock, valued at $88,671,942.18. This represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,993 shares of company stock valued at $16,292,923 in the last ninety days. 10.80% of the stock is currently owned by insiders.

Cencora Stock Down 0.4%

COR stock opened at $288.98 on Tuesday. The stock has a market capitalization of $56.03 billion, a P/E ratio of 29.73, a price-to-earnings-growth ratio of 1.48 and a beta of 0.62. 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 12 month low of $218.65 and a 12 month high of $309.35. The firm has a 50-day moving average price of $292.26 and a 200-day moving average price of $287.53.

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. The firm had revenue of $80.66 billion during the quarter, compared to analysts' expectations of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.34 earnings per share. As a group, equities research analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.8%. Cencora's dividend payout ratio is 22.63%.

Analyst Upgrades and Downgrades

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

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