Cencora (NYSE:COR) Chairman Sells $9,087,111.00 in Stock

Key Points

• Steven Collis, the chairman of Cencora, sold 31,350 shares of the company's stock for approximately $9.09 million, reducing his ownership by 9.3% to 305,913 shares.
• Cencora reported earnings of $4.00 per share for the last quarter, exceeding estimates and resulting in an 8.7% year-over-year revenue increase to $80.66 billion.
• The company recently declared a quarterly dividend of $0.55 per share, which translates to an annualized yield of 0.8% and a payout ratio of 22.63%.

Cencora, Inc. (NYSE:COR - Get Free Report) 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 sale, the chairman owned 305,913 shares in the company, valued at $88,671,942.18. This represents a 9.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Cencora Trading Down 0.4%

Shares of NYSE:COR traded down $1.04 during mid-day trading on Monday, reaching $288.98. 1,097,300 shares of the company's stock were exchanged, compared to its average volume of 1,681,896. The firm has a market capitalization of $56.03 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 1.48 and a beta of 0.62. The business's fifty day moving average price is $292.26 and its 200-day moving average price is $287.53. 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 twelve month low of $218.65 and a twelve month high of $309.35.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. The company had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. Cencora's revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.34 earnings per share. On average, research analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new position in Cencora in the fourth quarter valued at about $67,000. Tidal Investments LLC lifted its stake in shares of Cencora by 3.1% during the 4th quarter. Tidal Investments LLC now owns 21,319 shares of the company's stock valued at $4,790,000 after buying an additional 635 shares in the last quarter. Waverly Advisors LLC purchased a new stake in shares of Cencora during the 4th quarter valued at approximately $232,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Cencora by 6.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,648,451 shares of the company's stock valued at $370,374,000 after buying an additional 96,238 shares in the last quarter. Finally, PharVision Advisers LLC purchased a new stake in shares of Cencora during the 4th quarter valued at approximately $453,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

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.