Morningstar Investment Management LLC Purchases Shares of 1,153 Cencora, Inc. $COR

Key Points

• Morningstar Investment Management LLC acquired 1,153 shares of Cencora, Inc. worth approximately $346,000 in the second quarter.
• CEO Robert P. Mauch and Chairman Steven H. Collis sold significant portions of their shares, resulting in an 11.49% and 9.30% decrease in their ownership respectively.
• Analysts have set a consensus price target of $320.00 for Cencora, with nine analysts rating it a "Buy" amid recent fluctuations in stock ratings.

Morningstar Investment Management LLC purchased a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,153 shares of the company's stock, valued at approximately $346,000.

Other large investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its stake in 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. Costello Asset Management INC purchased a new stake in Cencora during the 1st quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Cencora during the 1st quarter valued at about $39,000. Golden State Wealth Management LLC boosted its stake in shares of Cencora by 157.6% in the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock worth $47,000 after buying an additional 104 shares during the last quarter. Finally, Olde Wealth Management LLC purchased a new stake in shares of Cencora in the first quarter worth about $48,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Insider Buying and Selling

In other Cencora news, 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 of the company's stock, valued at $11,389,460. This represents a 11.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 31,350 shares of the 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 transaction, the chairman directly owned 305,913 shares of the company's stock, valued at $88,671,942.18. The trade was a 9.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,993 shares of company stock valued at $16,292,923 in the last three months. Insiders own 10.80% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on COR shares. Morgan Stanley set a $330.00 target price on Cencora and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Wall Street Zen downgraded Cencora from a "buy" rating to a "hold" rating in a research note on Saturday. Jefferies Financial Group upped their target price on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research note on Monday, June 30th. Evercore ISI set a $340.00 target price on Cencora in a research note on Wednesday, October 8th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Cencora in a research note on Wednesday, October 8th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Cencora currently has a consensus rating of "Moderate Buy" and a consensus price target of $320.00.

Cencora Stock Performance

NYSE COR opened at $317.86 on Wednesday. The stock has a market capitalization of $61.63 billion, a price-to-earnings ratio of 32.70, a PEG ratio of 1.48 and a beta of 0.63. Cencora, Inc. has a twelve month low of $223.92 and a twelve month high of $319.87. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. The stock has a 50-day moving average of $297.97 and a 200 day moving average of $292.34.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. The company had revenue of $80.66 billion during the quarter, compared to analysts' expectations of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.Cencora's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.34 EPS. Sell-side analysts anticipate 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. Investors 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 yield of 0.7%. Cencora's dividend payout ratio is presently 22.63%.

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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