Cozad Asset Management Inc. Boosts Stake in Cencora, Inc. (NYSE:COR)

Key Points

• Cozad Asset Management Inc. increased its holdings in Cencora, Inc. by 515.0% during the first quarter, acquiring an additional 19,649 shares, bringing its total to 23,464 shares worth approximately $6.5 million.
• Chairman Steven H. Collis sold 14,579 shares for over $4.2 million, while CEO Robert P. Mauch sold 4,968 shares valued at $1.46 million, representing significant declines in their ownership stakes.
• Cencora's stock received a positive outlook from analysts, with ten analysts issuing buy ratings and a consensus price target increasing to $309.83, reflecting overall confidence in the company's performance.

Cozad Asset Management Inc. raised its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 515.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,464 shares of the company's stock after acquiring an additional 19,649 shares during the quarter. Cozad Asset Management Inc.'s holdings in Cencora were worth $6,525,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. New Age Alpha Advisors LLC increased its holdings in shares of Cencora by 2,538.1% during the fourth quarter. New Age Alpha Advisors LLC now owns 3,113 shares of the company's stock worth $699,000 after purchasing an additional 2,995 shares during the period. Pictet Asset Management Holding SA boosted its position in shares of Cencora by 26.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 126,017 shares of the company's stock worth $28,314,000 after acquiring an additional 26,051 shares in the last quarter. DnB Asset Management AS boosted its position in shares of Cencora by 1.9% during the 4th quarter. DnB Asset Management AS now owns 31,124 shares of the company's stock worth $6,993,000 after acquiring an additional 566 shares in the last quarter. Allstate Corp acquired a new stake in Cencora in the fourth quarter valued at approximately $1,202,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in Cencora by 5.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,018,385 shares of the company's stock valued at $228,811,000 after buying an additional 48,199 shares in the last quarter. 97.52% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $294.11, for a total value of $1,461,138.48. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction that occurred on 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 completion of the sale, the chairman owned 311,913 shares in the company, valued at $91,271,982.06. This represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,125 shares of company stock valued at $9,993,789 over the last quarter. 10.80% of the stock is owned by company insiders.

Cencora Stock Performance

Cencora stock traded up $2.02 during trading on Friday, hitting $288.10. The stock had a trading volume of 704,524 shares, compared to its average volume of 1,568,681. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. The stock's 50 day moving average is $293.13 and its two-hundred day moving average is $275.35. The stock has a market cap of $55.84 billion, a price-to-earnings ratio of 33.46, a price-to-earnings-growth ratio of 1.45 and a beta of 0.57.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, beating the consensus estimate of $4.07 by $0.35. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The business had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. During the same quarter in the prior year, the business earned $3.80 earnings per share. Cencora's revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, May 16th. Cencora's payout ratio is currently 25.52%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on COR. UBS Group raised their price target on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. 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. Bank of America upped their target price on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research report on Friday, April 11th. Finally, Robert W. Baird boosted their target price on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $309.83.

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.