SOA Wealth Advisors LLC. Raises Stock Position in Cencora, Inc. $COR

Key Points

• SOA Wealth Advisors LLC increased its stake in Cencora, Inc. by 15.2%, now holding 7,320 shares worth approximately $2.2 million.
• Cencora reported earnings of $4.00 per share, beating analyst expectations, with revenue for the quarter reaching $80.66 billion.
• The company declared a quarterly dividend of $0.55 per share, resulting in an annual yield of 0.7%.

SOA Wealth Advisors LLC. lifted its stake in Cencora, Inc. (NYSE:COR - Free Report) by 15.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,320 shares of the company's stock after buying an additional 967 shares during the period. SOA Wealth Advisors LLC.'s holdings in Cencora were worth $2,195,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Merit Financial Group LLC lifted its holdings in shares of Cencora by 47.6% in the 1st quarter. Merit Financial Group LLC now owns 9,749 shares of the company's stock valued at $2,711,000 after purchasing an additional 3,146 shares during the last quarter. Fulton Bank N.A. lifted its stake in Cencora by 1.3% in the first quarter. Fulton Bank N.A. now owns 5,049 shares of the company's stock valued at $1,404,000 after buying an additional 65 shares during the last quarter. Clare Market Investments LLC boosted its holdings in shares of Cencora by 45.8% in the first quarter. Clare Market Investments LLC now owns 8,750 shares of the company's stock valued at $2,433,000 after acquiring an additional 2,750 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Cencora by 22.9% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,661 shares of the company's stock worth $2,408,000 after acquiring an additional 1,613 shares during the last quarter. Finally, Vest Financial LLC acquired a new position in shares of Cencora in the 1st quarter valued at $240,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Trading Down 0.2%

Shares of COR stock opened at $311.92 on Thursday. The business's fifty day moving average price is $294.07 and its 200 day moving average price is $289.49. The firm has a market capitalization of $60.48 billion, a PE ratio of 32.09, a P/E/G ratio of 1.59 and a beta of 0.63. 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, Inc. has a 1-year low of $218.65 and a 1-year high of $315.23.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 0.60% and a return on equity of 267.36%. The business's revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.34 EPS. As a group, sell-side analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

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

Insider Activity

In other news, Chairman Steven H. Collis sold 31,350 shares of the firm's 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 completion of the transaction, the chairman directly 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 document filed with the SEC, which is available at this hyperlink. Also, CEO Robert P. Mauch sold 5,097 shares of the company's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $290.00, for a total value of $1,478,130.00. Following the completion of the sale, the chief executive officer directly owned 39,274 shares in the company, valued at approximately $11,389,460. The trade was a 11.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,993 shares of company stock worth $16,292,923 over the last quarter. Insiders own 10.80% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on COR shares. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Jefferies Financial Group increased their price objective on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. Finally, Wells Fargo & Company upped their price target on Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Cencora currently has an average rating of "Moderate Buy" and an average target price of $311.25.

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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