Ieq Capital LLC Buys 5,194 Shares of Cencora, Inc. $COR

Key Points

• Ieq Capital LLC increased its stake in Cencora, Inc. by 129.9%, acquiring an additional 5,194 shares during Q1, bringing its total ownership to 9,191 shares worth approximately $2.56 million.
• Cencora announced a quarterly dividend of $0.55 per share, with a payout ratio of 22.63%, scheduled for distribution on September 3rd to shareholders recorded by August 15th.
• The company's recent earnings report showed $4.00 EPS for the quarter, surpassing analyst expectations, alongside a revenue increase of 8.7% compared to the previous year.

Ieq Capital LLC increased its position in Cencora, Inc. (NYSE:COR - Free Report) by 129.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,191 shares of the company's stock after buying an additional 5,194 shares during the quarter. Ieq Capital LLC's holdings in Cencora were worth $2,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Cornerstone Planning Group LLC lifted its position in Cencora by 106.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after buying an additional 48 shares during the last quarter. Hoey Investments Inc. bought a new stake in Cencora in the 1st quarter worth approximately $28,000. Costello Asset Management INC bought a new stake in Cencora in the 1st quarter worth approximately $28,000. Banque Transatlantique SA bought a new stake in Cencora in the 4th quarter worth approximately $29,000. Finally, Vermillion Wealth Management Inc. bought a new stake in Cencora in the fourth quarter worth $38,000. Institutional investors own 97.52% of the company's stock.

Insider Buying and Selling

In related news, CEO Robert P. Mauch sold 4,968 shares of the company'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 completion of the transaction, the chief executive officer owned 42,351 shares in the company, valued at $12,455,852.61. This represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total value of $4,266,106.98. Following the transaction, the chairman owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. This represents a 4.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,125 shares of company stock valued at $9,993,789. 10.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on COR. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company boosted their price target on shares of Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Citigroup boosted their price target on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Robert W. Baird boosted their price objective on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Finally, Jefferies Financial Group boosted their price objective on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Cencora currently has an average rating of "Moderate Buy" and a consensus target price of $311.25.

Cencora Trading Down 1.1%

Shares of NYSE:COR traded down $3.35 during midday trading on Thursday, hitting $291.79. 363,617 shares of the stock traded hands, compared to its average volume of 1,542,505. The stock has a market capitalization of $56.57 billion, a PE ratio of 30.02, a P/E/G ratio of 1.38 and a beta of 0.62. The business's 50 day moving average is $293.06 and its two-hundred day moving average is $282.92. 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 one year low of $218.65 and a one year high of $309.35.

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

Cencora Dividend Announcement

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

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.