US Bancorp DE Trims Stake in Cencora, Inc. $COR

Key Points

• US Bancorp DE reduced its stake in Cencora, Inc. by 4.2%, now holding 48,872 shares worth approximately $14.7 million.
• Cencora recently reported $4.00 earnings per share for the last quarter, exceeding expectations by $0.21, with an 8.7% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.55 per share, resulting in an annualized yield of 0.7% and a payout ratio of 22.63%.

US Bancorp DE lessened its position in Cencora, Inc. (NYSE:COR - Free Report) by 4.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 48,872 shares of the company's stock after selling 2,118 shares during the quarter. US Bancorp DE's holdings in Cencora were worth $14,655,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Obermeyer Wealth Partners raised its holdings in shares of Cencora by 1.3% in the 1st quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company's stock valued at $758,000 after buying an additional 36 shares during the period. Grove Bank & Trust raised its holdings in shares of Cencora by 4.3% in the 2nd quarter. Grove Bank & Trust now owns 879 shares of the company's stock valued at $264,000 after buying an additional 36 shares during the period. U.S. Capital Wealth Advisors LLC raised its holdings in shares of Cencora by 0.4% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 8,547 shares of the company's stock valued at $2,563,000 after buying an additional 38 shares during the period. Cromwell Holdings LLC raised its holdings in shares of Cencora by 9.5% in the 1st quarter. Cromwell Holdings LLC now owns 450 shares of the company's stock valued at $125,000 after buying an additional 39 shares during the period. Finally, Contravisory Investment Management Inc. raised its holdings in shares of Cencora by 0.7% in the 2nd quarter. Contravisory Investment Management Inc. now owns 5,382 shares of the company's stock valued at $1,614,000 after buying an additional 40 shares during the period. Hedge funds and other institutional investors own 97.52% of the company's stock.

Insider Activity

In other news, CEO Robert P. Mauch sold 5,097 shares of the business'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 completion of the sale, the chief executive officer directly owned 39,274 shares of the company's stock, valued at approximately $11,389,460. The trade was a 11.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Steven H. Collis sold 31,350 shares of the business'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 of the company's stock, valued at $88,671,942.18. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,993 shares of company stock valued at $16,292,923. Insiders own 10.80% of the company's stock.

Cencora Trading Up 1.2%

NYSE:COR opened at $318.01 on Friday. The stock has a 50-day simple moving average of $296.99 and a 200-day simple moving average of $291.75. The stock has a market cap of $61.66 billion, a P/E ratio of 32.72, a P/E/G ratio of 1.49 and a beta of 0.63. Cencora, Inc. has a 1 year low of $221.95 and a 1 year high of $319.68. 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 (NYSE:COR - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) 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 analysts' expectations of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The business's quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.34 EPS. As a group, analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were given 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 dividend payout ratio is currently 22.63%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on COR shares. Morgan Stanley set a $330.00 price objective on Cencora and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Wells Fargo & Company boosted their target price on Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Jefferies Financial Group boosted 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. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Cencora in a research note on Wednesday. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $320.00.

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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