Occidental Asset Management LLC Acquires 121 Shares of Cencora, Inc. $COR

Occidental Asset Management LLC boosted its holdings in Cencora, Inc. (NYSE:COR) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,542 shares of the company’s stock after buying an additional 121 shares during the quarter. Occidental Asset Management LLC’s holdings in Cencora were worth $5,560,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in COR. Cornerstone Planning Group LLC raised its holdings in Cencora by 106.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock valued at $26,000 after buying an additional 48 shares during the last quarter. Hoey Investments Inc. bought a new position in Cencora in the 1st quarter valued at approximately $28,000. Costello Asset Management INC bought a new position in Cencora during the 1st quarter worth approximately $28,000. Vermillion Wealth Management Inc. bought a new position in Cencora during the 4th quarter worth approximately $38,000. Finally, University of Texas Texas AM Investment Management Co. bought a new position in Cencora during the 1st quarter worth approximately $39,000. Institutional investors own 97.52% of the company’s stock.

Insider Transactions at Cencora

In related news, Chairman Steven H. Collis sold 31,350 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total value of $9,087,111.00. Following 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert P. Mauch sold 5,097 shares of the business’s stock in a transaction dated 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 owned 39,274 shares in the company, valued at $11,389,460. This represents a 11.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,993 shares of company stock valued at $16,292,923 in the last 90 days. 10.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on COR shares. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Jefferies Financial Group raised their price target on shares of Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a report on Monday, June 30th. Finally, Wells Fargo & Company raised their price target on shares of Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a report 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.com, Cencora currently has an average rating of “Moderate Buy” and a consensus price target of $311.25.

Cencora Price Performance

COR opened at $288.98 on Tuesday. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. The company has a market capitalization of $56.03 billion, a price-to-earnings ratio of 29.73, a P/E/G ratio of 1.48 and a beta of 0.62. The firm’s fifty day moving average price is $292.26 and its two-hundred day moving average price is $287.53. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35.

Cencora (NYSE:COR) last posted 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 firm had revenue of $80.66 billion for 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 for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.34 EPS. As a group, analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were issued 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 was Friday, August 15th. Cencora’s dividend payout ratio (DPR) is 22.63%.

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.