Strs Ohio Invests $16.66 Million in Cencora, Inc. $COR

Key Points

• Strs Ohio has acquired a significant stake in Cencora, Inc., purchasing 59,908 shares valued at approximately $16,660,000 during the first quarter.
• Insider activities included Chairman Steven H. Collis selling 14,578 shares, resulting in a 4.49% decrease in ownership, and CEO Robert P. Mauch selling 4,968 shares, translating to a 10.50% decrease in their position.
• Analysts have set varying price targets for Cencora, with Morgan Stanley setting a target at $330.00, while Wells Fargo increased theirs to $354.00, suggesting a Moderate Buy rating overall.

Strs Ohio purchased a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 59,908 shares of the company's stock, valued at approximately $16,660,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Net Worth Advisory Group boosted its stake in Cencora by 1.4% in the 1st quarter. Net Worth Advisory Group now owns 2,645 shares of the company's stock worth $736,000 after purchasing an additional 36 shares during the period. Obermeyer Wealth Partners boosted its position in shares of Cencora by 1.3% during the first quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company's stock worth $758,000 after buying an additional 36 shares during the period. Cromwell Holdings LLC grew its holdings in shares of Cencora by 9.5% during the first quarter. Cromwell Holdings LLC now owns 450 shares of the company's stock worth $125,000 after buying an additional 39 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its position in Cencora by 2.7% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,565 shares of the company's stock valued at $435,000 after buying an additional 41 shares during the last quarter. Finally, Private Trust Co. NA lifted its position in shares of Cencora by 2.5% in the first quarter. Private Trust Co. NA now owns 1,933 shares of the company's stock worth $538,000 after purchasing an additional 47 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Insider Activity at Cencora

In other news, CEO Robert P. Mauch sold 4,968 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the completion of the sale, the chief executive officer directly owned 42,351 shares in the company, valued at approximately $12,455,852.61. This represents a 10.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the sale, the chairman owned 311,913 shares in the company, valued at $91,271,982.06. This represents a 4.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,125 shares of company stock worth $9,993,789 over the last ninety days. Insiders own 10.80% of the company's stock.

Analyst Ratings Changes

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

Cencora Stock Performance

Shares of NYSE COR traded down $0.15 during trading hours on Thursday, reaching $288.93. 499,568 shares of the stock were exchanged, compared to its average volume of 1,550,022. The firm has a market capitalization of $56.02 billion, a price-to-earnings ratio of 29.74, a P/E/G ratio of 1.38 and a beta of 0.62. The stock's fifty day simple moving average is $292.65 and its 200 day simple moving average is $286.31. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $80.66 billion for 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%.The company's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business earned $3.34 EPS. Sell-side analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

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

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.