Cooper Financial Group Buys Shares of 1,006 Cencora, Inc. $COR

Cooper Financial Group bought a new stake in Cencora, Inc. (NYSE:COR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,006 shares of the company’s stock, valued at approximately $302,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in COR. Merit Financial Group LLC raised its stake in shares of Cencora by 47.6% during the 1st quarter. Merit Financial Group LLC now owns 9,749 shares of the company’s stock worth $2,711,000 after purchasing an additional 3,146 shares in the last quarter. Clare Market Investments LLC raised its stake in Cencora by 45.8% in the 1st quarter. Clare Market Investments LLC now owns 8,750 shares of the company’s stock valued at $2,433,000 after acquiring an additional 2,750 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in Cencora by 22.9% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,661 shares of the company’s stock valued at $2,408,000 after acquiring an additional 1,613 shares during the period. Vest Financial LLC bought a new stake in Cencora in the 1st quarter valued at $240,000. Finally, Curat Global LLC bought a new stake in Cencora in the 1st quarter valued at $111,000. Institutional investors own 97.52% of the company’s stock.

Insider Activity

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 transaction of $9,087,111.00. Following the completion of the transaction, the chairman directly owned 305,913 shares in the company, valued at $88,671,942.18. The trade was a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert P. Mauch sold 5,097 shares of the company’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 transaction, the chief executive officer owned 39,274 shares of the company’s stock, valued at $11,389,460. The trade was a 11.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,993 shares of company stock valued at $16,292,923. 10.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

COR has been the topic of several recent research reports. Morgan Stanley set a $330.00 price objective on Cencora and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Jefferies Financial Group raised their price objective on Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research note on Monday, June 30th. Finally, Wells Fargo & Company raised their price objective on Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $311.25.

Cencora Trading Down 0.9%

Shares of Cencora stock opened at $308.89 on Friday. 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 $315.23. The stock has a 50 day moving average price of $294.44 and a two-hundred day moving average price of $289.82. The stock has a market capitalization of $59.89 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 1.46 and a beta of 0.63.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.21. The company 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%.Cencora’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.34 earnings per share. As a group, equities analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora’s 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.