Blue Rock Wealth Management LLC Acquires Shares of 6,000 Cencora, Inc. $COR

Key Points

• Blue Rock Wealth Management LLC acquired 6,000 shares of Cencora, Inc. valued at approximately $1,669,000, making it the firm's 19th largest position.
• Insider transactions included Chairman Steven H. Collis selling 14,578 shares and CEO Robert P. Mauch selling 4,968 shares, leading to notable decreases in their ownership stakes.
• Cencora recently reported quarterly earnings of $4.00 per share, exceeding analysts' expectations, and announced a dividend of $0.55 per share, reflecting a 0.7% yield.

Blue Rock Wealth Management LLC bought a new stake in Cencora, Inc. (NYSE:COR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,000 shares of the company's stock, valued at approximately $1,669,000. Cencora makes up approximately 1.4% of Blue Rock Wealth Management LLC's portfolio, making the stock its 19th largest position.

Other institutional investors also recently modified their holdings of the company. Exchange Traded Concepts LLC grew its holdings in Cencora by 4.5% during the first quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company's stock valued at $307,000 after purchasing an additional 48 shares during the period. Dynamic Advisor Solutions LLC grew its holdings in Cencora by 6.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 1,535 shares of the company's stock valued at $427,000 after purchasing an additional 93 shares during the period. GAMMA Investing LLC grew its holdings in Cencora by 57.0% during the first quarter. GAMMA Investing LLC now owns 5,748 shares of the company's stock valued at $1,598,000 after purchasing an additional 2,087 shares during the period. Golden State Wealth Management LLC boosted its holdings in shares of Cencora by 157.6% in the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock worth $47,000 after acquiring an additional 104 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Cencora by 370.6% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 24,683 shares of the company's stock worth $6,864,000 after acquiring an additional 19,438 shares during the period. 97.52% of the stock is owned by institutional investors.

Cencora Price Performance

NYSE COR traded up $0.03 during trading hours on Friday, reaching $302.83. 1,189,360 shares of the stock traded hands, compared to its average volume of 1,313,938. The stock has a 50 day simple moving average of $293.24 and a two-hundred day simple moving average of $285.50. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35. 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 cap of $58.71 billion, a price-to-earnings ratio of 31.16, a price-to-earnings-growth ratio of 1.44 and a beta of 0.62.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, beating analysts' consensus estimates of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The business had revenue of $80.66 billion for the quarter, compared to the consensus estimate of $80.34 billion. During the same quarter last year, the business posted $3.34 earnings per share. The company's revenue for the quarter was up 8.7% on a year-over-year basis. On average, analysts predict that Cencora, Inc. will post 15.37 EPS 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 paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. Cencora's dividend payout ratio (DPR) is presently 22.63%.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, CEO Robert P. Mauch sold 4,968 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $294.11, for a total value of $1,461,138.48. Following the sale, the chief executive officer directly owned 42,351 shares of the company's stock, valued at $12,455,852.61. This trade represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Steven H. Collis sold 14,578 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $292.67, for a total value of $4,266,543.26. Following the completion of the sale, the chairman directly owned 309,913 shares in the company, valued at $90,702,237.71. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,125 shares of company stock worth $9,993,789 over the last three months. 10.80% of the stock is owned by insiders.

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.