Czech National Bank Boosts Position in Cencora, Inc. $COR

Key Points

• The Czech National Bank increased its stake in Cencora, Inc. by 6.4% during the second quarter, owning a total of 42,165 shares valued at approximately $12.64 million.
• Cencora recently reported a quarterly earnings increase, with an EPS of $4.00 surpassing analysts' expectations, and a year-over-year revenue growth of 8.7%.
• The company declared a quarterly dividend of $0.55 per share, equating to an annualized dividend of $2.20, with a dividend yield of 0.8% and a payout ratio of 22.63%.

Czech National Bank increased its stake in Cencora, Inc. (NYSE:COR - Free Report) by 6.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 42,165 shares of the company's stock after buying an additional 2,525 shares during the quarter. Czech National Bank's holdings in Cencora were worth $12,643,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cornerstone Planning Group LLC boosted its stake in 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 acquiring an additional 48 shares during the last quarter. Hoey Investments Inc. purchased a new position in Cencora in the first quarter valued at about $28,000. Costello Asset Management INC purchased a new position in Cencora in the first quarter valued at approximately $28,000. Vermillion Wealth Management Inc. purchased a new position in Cencora in the fourth quarter valued at approximately $38,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in Cencora in the first quarter valued at approximately $39,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 31,350 shares of Cencora stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the transaction, the chairman directly owned 305,913 shares of the company's stock, valued at approximately $88,671,942.18. This trade represents a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction dated 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 65,475 shares of company stock worth $19,080,900 over the last three months. Insiders own 10.80% of the company's stock.

Analyst Upgrades and Downgrades

COR has been the topic of a number of recent research reports. Jefferies Financial Group upped 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. Wells Fargo & Company upped their price objective on shares of Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Finally, 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. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Cencora has an average rating of "Moderate Buy" and an average target price of $311.25.

Cencora Price Performance

Shares of NYSE:COR traded up $1.74 on Thursday, hitting $290.82. The company's stock had a trading volume of 1,321,719 shares, compared to its average volume of 1,453,659. The company has a 50-day simple moving average of $292.52 and a 200 day simple moving average of $286.56. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35. The company has a market capitalization of $56.38 billion, a PE ratio of 29.92, a PEG ratio of 1.37 and a beta of 0.62. 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 (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. The business had revenue of $80.66 billion for the quarter, compared to the consensus estimate of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. Cencora's quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm posted $3.34 earnings per share. Sell-side analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.8%. Cencora's dividend payout ratio (DPR) is 22.63%.

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.