Knights of Columbus Asset Advisors LLC Increases Stake in Cencora, Inc. $COR

Key Points

• Knights of Columbus Asset Advisors LLC raised its stake in Cencora, Inc. by 6.2% in the second quarter, owning a total of 44,209 shares worth approximately $13.25 million.
• Cencora recently reported earnings of $4.00 per share, exceeding analyst estimates, with revenue growth of 8.7% year-over-year.
• The company also announced a quarterly dividend of $0.55 per share, translating to an annual yield of 0.7%.

Knights of Columbus Asset Advisors LLC grew its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 6.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,209 shares of the company's stock after buying an additional 2,586 shares during the period. Cencora accounts for about 0.8% of Knights of Columbus Asset Advisors LLC's investment portfolio, making the stock its 29th largest position. Knights of Columbus Asset Advisors LLC's holdings in Cencora were worth $13,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Planning Group LLC boosted its holdings in shares of Cencora by 106.7% during the 1st 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. purchased a new stake in shares of Cencora in the first quarter worth about $28,000. Costello Asset Management INC purchased a new stake in shares of Cencora in the first quarter worth about $28,000. University of Texas Texas AM Investment Management Co. bought a new position in Cencora during the first quarter valued at approximately $39,000. Finally, Golden State Wealth Management LLC grew its holdings in Cencora by 157.6% during the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock valued at $47,000 after buying an additional 104 shares in the last quarter. Institutional investors own 97.52% of the company's stock.

Cencora Stock Performance

Shares of NYSE:COR opened at $302.54 on Monday. 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 $315.23. The company has a market capitalization of $58.66 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 1.41 and a beta of 0.63. The firm's 50-day moving average is $294.68 and its 200 day moving average is $290.41.

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

Cencora Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently issued reports on COR shares. Wells Fargo & Company upped 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 objective on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Cencora in a research report on Saturday, September 27th. Ten research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Cencora currently has an average rating of "Moderate Buy" and a consensus target price of $311.25.

Insider Buying and Selling at Cencora

In related news, Chairman Steven H. Collis sold 31,350 shares of the company's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction 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 represents a 9.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Robert P. Mauch sold 5,097 shares of the firm's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the completion of the sale, the chief executive officer owned 39,274 shares in the company, valued at $11,389,460. This represents a 11.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,993 shares of company stock worth $16,292,923 in the last ninety days. Insiders own 10.80% of the company's stock.

Cencora Company 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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