Oak Asset Management LLC Makes New Investment in Cencora, Inc. (NYSE:COR)

Oak Asset Management LLC bought a new position in shares of Cencora, Inc. (NYSE:COR) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,545 shares of the company’s stock, valued at approximately $1,104,000.

Several other institutional investors have also recently bought and sold shares of COR. Fisher Asset Management LLC acquired a new position in shares of Cencora in the fourth quarter valued at approximately $244,000. Trust Co. of Vermont acquired a new position in shares of Cencora in the fourth quarter valued at approximately $62,000. Wahed Invest LLC bought a new stake in Cencora in the fourth quarter valued at approximately $567,000. Vanguard Group Inc. bought a new stake in Cencora in the fourth quarter valued at approximately $4,212,508,000. Finally, Hennessy Advisors Inc. bought a new stake in Cencora in the fourth quarter valued at approximately $3,307,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

COR has been the topic of several analyst reports. Robert W. Baird upped their target price on Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. SVB Leerink reiterated an “outperform” rating and issued a $275.00 target price on shares of Cencora in a report on Thursday. Citigroup upped their target price on Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Finally, StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $235.30.

Insider Buying and Selling

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total value of $399,991,976.80. Following the transaction, the insider now directly owns 24,418,171 shares in the company, valued at approximately $5,252,836,945.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total value of $399,991,976.80. Following the completion of the sale, the insider now directly owns 24,418,171 shares of the company’s stock, valued at approximately $5,252,836,945.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven H. Collis sold 10,754 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total value of $2,553,859.92. Following the completion of the sale, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at $67,702,698.24. The disclosure for this sale can be found here. Insiders have sold a total of 1,956,675 shares of company stock worth $422,352,056 in the last ninety days. Corporate insiders own 15.80% of the company’s stock.

Cencora Price Performance

Cencora stock opened at $225.30 on Monday. The stock has a market capitalization of $44.94 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 1.57 and a beta of 0.45. Cencora, Inc. has a 52-week low of $171.65 and a 52-week high of $246.75. The stock’s 50 day moving average price is $229.12 and its two-hundred day moving average price is $228.16. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.53 and a current ratio of 0.89.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.65 by $0.15. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The company had revenue of $68.41 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same period last year, the business earned $3.50 EPS. Cencora’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities analysts predict that Cencora, Inc. will post 13.44 earnings per share for the current year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Thursday, May 9th. Cencora’s dividend payout ratio is currently 22.32%.

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.