Oak Asset Management LLC Makes New $1.10 Million Investment in Cencora, Inc. (NYSE:COR)

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

Several other hedge funds also recently added to or reduced their stakes in the stock. Rise Advisors LLC bought a new position in shares of Cencora in the 1st quarter worth about $25,000. CVA Family Office LLC acquired a new position in shares of Cencora in the 1st quarter valued at about $34,000. Bruce G. Allen Investments LLC acquired a new position in shares of Cencora in the 1st quarter valued at about $43,000. Kathmere Capital Management LLC boosted its holdings in shares of Cencora by 15.2% in the 1st quarter. Kathmere Capital Management LLC now owns 1,498 shares of the company’s stock valued at $364,000 after buying an additional 198 shares during the period. Finally, Iron Horse Wealth Management LLC acquired a new position in shares of Cencora in the 1st quarter valued at about $64,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Trading Down 1.2 %

Shares of NYSE:COR opened at $225.30 on Monday. The company has a 50 day moving average of $229.12 and a 200-day moving average of $228.16. The firm has a market cap of $44.94 billion, a P/E ratio of 24.65, a P/E/G ratio of 1.57 and a beta of 0.45. Cencora, Inc. has a twelve month low of $171.65 and a twelve month high of $246.75. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.41.

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

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid 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 was Thursday, May 9th. Cencora’s dividend payout ratio is currently 22.32%.

Insider Transactions at Cencora

In related news, Director Dermot Mark Durcan purchased 500 shares of Cencora stock in a transaction dated Friday, May 24th. The stock was bought at an average cost of $218.58 per share, with a total value of $109,290.00. Following the purchase, the director now owns 21,876 shares in the company, valued at approximately $4,781,656.08. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total value of $399,991,976.80. Following the sale, the insider now directly owns 24,418,171 shares in the company, valued at approximately $5,252,836,945.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dermot Mark Durcan bought 500 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was acquired at an average price of $218.58 per share, for a total transaction of $109,290.00. Following the completion of the acquisition, the director now directly owns 21,876 shares in the company, valued at $4,781,656.08. The disclosure for this purchase can be found here. In the last three months, insiders sold 1,956,675 shares of company stock valued at $422,352,056. Company insiders own 15.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on COR. Robert W. Baird lifted their price target on shares of Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Citigroup boosted their target price on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Finally, SVB Leerink reissued an “outperform” rating and set a $275.00 target price on shares of Cencora in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cencora has an average rating of “Moderate Buy” and an average target price of $235.30.

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.