TD Asset Management Inc Acquires 10,377 Shares of Cencora, Inc. $COR

Key Points

• TD Asset Management Inc increased its holdings in Cencora, Inc. by 3.9%, acquiring an additional 10,377 shares, bringing its total ownership to 279,653 shares, valued at approximately $83.85 million.
• Cencora reported $4.00 EPS for the last quarter, surpassing analyst estimates of $3.79, with a revenue of $80.66 billion—up 8.7% year-over-year.
• The company's recent quarterly dividend was $0.55 per share, representing an annualized yield of 0.7% and a payout ratio of 22.63%.

TD Asset Management Inc raised its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 3.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 279,653 shares of the company's stock after purchasing an additional 10,377 shares during the quarter. TD Asset Management Inc owned 0.14% of Cencora worth $83,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Morningstar Investment Management LLC bought a new position in Cencora in the 2nd quarter valued at $346,000. Kiker Wealth Management LLC grew its stake in shares of Cencora by 9,316.0% during the 2nd quarter. Kiker Wealth Management LLC now owns 4,708 shares of the company's stock worth $1,412,000 after acquiring an additional 4,658 shares during the period. Harbour Trust & Investment Management Co grew its stake in shares of Cencora by 12.2% during the 2nd quarter. Harbour Trust & Investment Management Co now owns 13,083 shares of the company's stock worth $3,923,000 after acquiring an additional 1,424 shares during the period. RFG Advisory LLC bought a new position in shares of Cencora during the 2nd quarter worth $604,000. Finally, Cornerstone Wealth Group LLC grew its stake in shares of Cencora by 3.1% during the 2nd quarter. Cornerstone Wealth Group LLC now owns 2,353 shares of the company's stock worth $705,000 after acquiring an additional 71 shares during the period. Institutional investors own 97.52% of the company's stock.

Cencora Stock Performance

Shares of COR opened at $317.86 on Wednesday. The stock's 50-day simple moving average is $297.97 and its 200 day simple moving average is $292.34. The stock has a market capitalization of $61.63 billion, a price-to-earnings ratio of 32.70, a price-to-earnings-growth ratio of 1.48 and a beta of 0.63. 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 $223.92 and a 52-week high of $319.87.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. The business 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 firm's quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.34 EPS. Research analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders 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 annualized dividend and a dividend yield of 0.7%. Cencora's dividend payout ratio (DPR) is presently 22.63%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Morgan Stanley set a $330.00 price target on Cencora and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Evercore ISI set a $340.00 price target on Cencora in a research note on Wednesday, October 8th. Jefferies Financial Group increased their price target on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research note on Monday, June 30th. Weiss Ratings reiterated a "buy (b)" rating on shares of Cencora in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company increased 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 investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $320.00.

Insider Activity

In other Cencora news, CEO Robert P. Mauch sold 5,097 shares of the firm's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $290.00, for a total value of $1,478,130.00. Following the sale, the chief executive officer owned 39,274 shares of the company's stock, valued at $11,389,460. This trade represents a 11.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $9,087,111.00. Following the completion of the sale, the chairman directly owned 305,913 shares in the company, valued at approximately $88,671,942.18. The trade was a 9.30% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,993 shares of company stock worth $16,292,923. 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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