Trajan Wealth LLC Raises Stake in Cencora, Inc. (NYSE:COR)

Key Points

• Trajan Wealth LLC raised its stake in Cencora, Inc. by 2.8%, making it the fund's 13th largest holding with a total investment of approximately $32.1 million.
• Cencora reported a quarterly earnings per share (EPS) of $4.00, surpassing analyst expectations and showing an 8.7% increase in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.55, providing an annualized yield of 0.8%, set to be paid on September 3rd.

Trajan Wealth LLC increased its stake in Cencora, Inc. (NYSE:COR - Free Report) by 2.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 115,562 shares of the company's stock after buying an additional 3,116 shares during the quarter. Cencora accounts for approximately 1.8% of Trajan Wealth LLC's portfolio, making the stock its 13th largest holding. Trajan Wealth LLC owned 0.06% of Cencora worth $32,137,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its position in shares of Cencora by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company's stock valued at $1,990,542,000 after buying an additional 78,066 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Cencora by 62.3% during the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock valued at $1,166,944,000 after buying an additional 1,994,256 shares during the last quarter. Invesco Ltd. lifted its position in shares of Cencora by 42.1% during the 1st quarter. Invesco Ltd. now owns 4,607,964 shares of the company's stock valued at $1,281,429,000 after buying an additional 1,364,433 shares during the last quarter. Northern Trust Corp lifted its position in shares of Cencora by 11.6% during the 4th quarter. Northern Trust Corp now owns 2,421,237 shares of the company's stock valued at $544,004,000 after buying an additional 252,028 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new position in shares of Cencora during the 4th quarter valued at $399,508,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Performance

NYSE:COR opened at $290.78 on Tuesday. The business's 50-day moving average price is $292.48 and its two-hundred day moving average price is $278.30. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35. The stock has a market cap of $56.36 billion, a P/E ratio of 29.92, a PEG ratio of 1.35 and a beta of 0.58. 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 (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 the consensus estimate of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%. The firm had revenue of $80.66 billion for the quarter, compared to analysts' expectations of $80.34 billion. During the same quarter last year, the firm posted $3.34 EPS. The company's revenue was up 8.7% compared to the same quarter last year. As a group, equities analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.8%. Cencora's dividend payout ratio (DPR) is presently 22.63%.

Analyst Upgrades and Downgrades

COR has been the topic of a number of recent research reports. UBS Group increased their price objective on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Citigroup increased their price objective on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Robert W. Baird increased their price objective on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, Morgan Stanley set a $330.00 price objective on Cencora and gave the stock an "equal weight" rating in a report 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's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $309.83.

Insider Activity

In other news, Chairman Steven H. Collis sold 14,578 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $292.67, for a total transaction of $4,266,543.26. Following the transaction, the chairman directly owned 309,913 shares in the company, valued at approximately $90,702,237.71. This represents a 4.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert P. Mauch sold 4,968 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 42,351 shares in the company, valued at $12,455,852.61. This trade represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,125 shares of company stock worth $9,993,789. 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.

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