Kiker Wealth Management LLC Purchases 4,658 Shares of Cencora, Inc. $COR

Key Points

• Kiker Wealth Management LLC significantly increased its stake in Cencora, Inc. by 9,316.0%, acquiring an additional 4,658 shares during the second quarter, bringing its total holdings to 4,708 shares valued at $1,412,000.
• Cencora reported earnings per share of $4.00 for the last quarter, exceeding analyst expectations of $3.79, with revenue totaling $80.66 billion, reflecting an 8.7% increase year-over-year.
• The company declared a quarterly dividend of $0.55 per share, translating to an annual yield of 0.7% and a payout ratio of 22.63%.

Kiker Wealth Management LLC lifted its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 9,316.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,708 shares of the company's stock after purchasing an additional 4,658 shares during the period. Kiker Wealth Management LLC's holdings in Cencora were worth $1,412,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in COR. Price T Rowe Associates Inc. MD raised its position in Cencora by 8.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company's stock worth $2,682,821,000 after acquiring an additional 787,858 shares during the period. Wellington Management Group LLP raised its position in Cencora by 7.2% in the first quarter. Wellington Management Group LLP now owns 5,421,262 shares of the company's stock worth $1,507,599,000 after acquiring an additional 363,402 shares during the period. Boston Partners raised its position in Cencora by 8.1% in the first quarter. Boston Partners now owns 5,411,193 shares of the company's stock worth $1,505,984,000 after acquiring an additional 404,093 shares during the period. Invesco Ltd. raised its position in Cencora by 42.1% in the first quarter. Invesco Ltd. now owns 4,607,964 shares of the company's stock worth $1,281,429,000 after acquiring an additional 1,364,433 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Cencora by 9.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,711,281 shares of the company's stock worth $475,890,000 after acquiring an additional 154,311 shares during the period. 97.52% of the stock is owned by institutional investors.

Cencora Price Performance

Shares of Cencora stock opened at $317.24 on Tuesday. The company has a fifty day moving average of $297.46 and a 200-day moving average of $292.16. Cencora, Inc. has a 52-week low of $221.95 and a 52-week high of $319.87. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. The stock has a market capitalization of $61.51 billion, a price-to-earnings ratio of 32.64, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The business had revenue of $80.66 billion during the quarter, compared to analysts' expectations of $80.34 billion. During the same quarter in the prior year, the company posted $3.34 EPS. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. Equities research analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

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

Analyst Upgrades and Downgrades

COR has been the topic of several research reports. Wells Fargo & Company lifted their price objective on shares of Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Wall Street Zen lowered shares of Cencora from a "buy" rating to a "hold" rating in a research report on Saturday. Jefferies Financial Group lifted their price objective on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. Evercore ISI set a $340.00 price target on shares of Cencora in a research report on Wednesday, October 8th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Cencora in a research report on Wednesday, October 8th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Cencora presently has a consensus rating of "Moderate Buy" and an average price target of $320.00.

Insider Transactions at Cencora

In other news, Chairman Steven H. Collis sold 31,350 shares of the firm's stock in a transaction dated 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 sale, the chairman owned 305,913 shares of the company's stock, valued at $88,671,942.18. This trade represents a 9.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the completion of the transaction, the chief executive officer owned 39,274 shares in the company, valued at $11,389,460. This trade represents a 11.49% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,993 shares of company stock worth $16,292,923. Insiders own 10.80% of the company's stock.

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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