Berger Financial Group Inc Makes New $6.38 Million Investment in Cencora, Inc. (NYSE:COR)

Key Points

• Berger Financial Group Inc has made a significant investment of approximately $6.38 million by acquiring 22,943 shares of Cencora, Inc. during the first quarter.
• Recent earnings reports reveal that Cencora posted $4.00 earnings per share for the quarter, exceeding analysts' expectations and showing an 8.7% revenue increase year-over-year.
• Cencora announced a quarterly dividend of $0.55 per share, representing a 0.8% yield, with a payout ratio of 22.63%.

Berger Financial Group Inc acquired a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 22,943 shares of the company's stock, valued at approximately $6,380,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of COR. Cornerstone Planning Group LLC boosted its holdings in shares of Cencora by 106.7% during the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after purchasing an additional 48 shares during the period. Hoey Investments Inc. purchased a new stake in shares of Cencora during the first quarter worth about $28,000. Costello Asset Management INC purchased a new stake in shares of Cencora during the first quarter worth about $28,000. Banque Transatlantique SA purchased a new stake in shares of Cencora during the fourth quarter worth about $29,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Cencora during the first quarter worth about $39,000. 97.52% of the stock is owned by institutional investors.

Cencora Stock Performance

Shares of COR stock traded up $5.65 during mid-day trading on Monday, reaching $290.78. 1,839,164 shares of the company's stock traded hands, compared to its average volume of 1,105,885. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35. The firm has a 50 day moving average price of $292.48 and a two-hundred day moving average price of $278.30. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. The firm has a market capitalization of $56.36 billion, a PE ratio of 29.92, a price-to-earnings-growth ratio of 1.35 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.21. The company had revenue of $80.66 billion during 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%. Cencora's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.34 EPS. On average, research analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, August 15th. Cencora's dividend payout ratio is currently 22.63%.

Wall Street Analyst Weigh In

Several analysts have commented on COR shares. Jefferies Financial Group raised their price objective on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $274.00 to $337.00 in a report on Tuesday, June 3rd. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Citigroup lifted their target price on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, Robert W. Baird lifted their target price on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $309.83.

Insider Activity

In other Cencora news, CEO Robert P. Mauch sold 4,968 shares of the business's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $294.11, for a total transaction 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. The trade was a 10.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Steven H. Collis sold 14,578 shares of the business's stock in a transaction that occurred on 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 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 have sold a total of 34,125 shares of company stock worth $9,993,789 over the last 90 days. Corporate insiders own 10.80% of the company's stock.

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.