Callan Family Office LLC Purchases 17,512 Shares of Cencora, Inc. (NYSE:COR)

Key Points

• Callan Family Office LLC increased its stake in Cencora, Inc. by 145.1%, now owning 29,582 shares valued at approximately $8.2 million.
• Cencora reported $4.00 EPS for the recent quarter, exceeding analysts' expectations and showing an 8.7% revenue growth year-over-year.
• The firm announced a quarterly dividend of $0.55, representing a yield of 0.8% and a payout ratio of 22.63%.

Callan Family Office LLC boosted its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 145.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,582 shares of the company's stock after buying an additional 17,512 shares during the period. Cencora makes up approximately 0.6% of Callan Family Office LLC's investment portfolio, making the stock its 28th largest position. Callan Family Office LLC's holdings in Cencora were worth $8,226,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cornerstone Planning Group LLC boosted its stake in shares of Cencora by 106.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock valued at $26,000 after purchasing an additional 48 shares in the last quarter. Hoey Investments Inc. acquired a new stake in shares of Cencora in the 1st quarter valued at approximately $28,000. Costello Asset Management INC acquired a new stake in shares of Cencora in the 1st quarter valued at approximately $28,000. Banque Transatlantique SA acquired a new stake in shares of Cencora in the 4th quarter valued at approximately $29,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Cencora in the 4th quarter valued at approximately $38,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Trading Down 0.5%

Cencora stock traded down $1.59 during mid-day trading on Friday, hitting $293.28. 1,109,030 shares of the stock were exchanged, compared to its average volume of 1,230,909. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35. The firm's fifty day simple moving average is $292.70 and its two-hundred day simple moving average is $279.00. The stock has a market capitalization of $56.86 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 1.40 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.21. The company had revenue of $80.66 billion during the quarter, compared to analyst estimates of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. Cencora's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.34 EPS. Analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

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

Insider Buying and Selling at Cencora

In other news, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction on Friday, July 18th. The shares were sold at an average price of $294.11, for a total value of $1,461,138.48. Following the completion of the sale, the chief executive officer owned 42,351 shares in the company, valued at $12,455,852.61. The trade was a 10.50% decrease in their position. The transaction 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 Cencora stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total transaction of $4,266,543.26. Following the completion of the sale, the chairman directly owned 309,913 shares of the company's stock, valued at approximately $90,702,237.71. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,125 shares of company stock valued at $9,993,789 in the last quarter. 10.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on COR shares. Jefferies Financial Group raised their price target on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research note on Monday, June 30th. Wells Fargo & Company set a $354.00 price objective on shares of Cencora and gave the company an "overweight" rating in a report on Wednesday. Robert W. Baird raised their price objective on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. UBS Group raised their price objective on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Finally, Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $311.25.

Cencora 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.