884 Shares in Cencora, Inc. (NYSE:COR) Purchased by Mesirow Financial Investment Management Inc.

Key Points

• Mesirow Financial Investment Management Inc. has acquired 884 shares of Cencora, Inc. (NYSE:COR), valued at approximately $246,000, marking a new position for the investment firm in the 1st quarter.
• Cencora reported $75.50 billion in revenue for the quarter, surpassing analysts' expectations, with a net income of $4.42 EPS, which exceeded the forecast by $0.35.
• The company recently declared a quarterly dividend of $0.55 per share, translating to an annualized yield of 0.8%, with a payout ratio of 25.52%.

Mesirow Financial Investment Management Inc. purchased a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 884 shares of the company's stock, valued at approximately $246,000.

A number of other large investors have also added to or reduced their stakes in the stock. Net Worth Advisory Group boosted its position in Cencora by 1.4% in the first quarter. Net Worth Advisory Group now owns 2,645 shares of the company's stock valued at $736,000 after buying an additional 36 shares in the last quarter. Obermeyer Wealth Partners boosted its position in Cencora by 1.3% in the first quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company's stock valued at $758,000 after buying an additional 36 shares in the last quarter. Cromwell Holdings LLC boosted its position in Cencora by 9.5% in the first quarter. Cromwell Holdings LLC now owns 450 shares of the company's stock valued at $125,000 after buying an additional 39 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its position in Cencora by 2.7% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,565 shares of the company's stock valued at $435,000 after buying an additional 41 shares in the last quarter. Finally, Private Trust Co. NA boosted its position in Cencora by 2.5% in the first quarter. Private Trust Co. NA now owns 1,933 shares of the company's stock valued at $538,000 after buying an additional 47 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Cencora Stock Down 2.8%

COR traded down $8.15 during midday trading on Wednesday, hitting $284.20. The company had a trading volume of 1,605,664 shares, compared to its average volume of 1,567,668. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. The company has a market capitalization of $55.08 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 1.45 and a beta of 0.58. The stock's 50 day moving average price is $292.98 and its 200 day moving average price is $277.01.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results 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. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The firm had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. During the same period in the previous year, the firm posted $3.34 earnings per share. The business's revenue was up 8.7% compared to the same quarter last year. On average, research analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.8%. Cencora's dividend payout ratio (DPR) is currently 25.52%.

Insider Buying and Selling at Cencora

In other Cencora news, 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 value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the transaction, the chief executive officer owned 42,351 shares of the company's stock, valued at $12,455,852.61. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,125 shares of company stock valued at $9,993,789. Insiders own 10.80% of the company's stock.

Analyst Ratings Changes

COR has been the topic of a number of research analyst reports. Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $274.00 to $337.00 in a research report on Tuesday, June 3rd. UBS Group boosted their price objective on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Jefferies Financial Group boosted their price objective on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research note on Monday, June 30th. Citigroup boosted their price objective 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. Finally, Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Cencora currently has a consensus rating of "Moderate Buy" and a consensus target price of $309.83.

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.