Waycross Partners LLC Grows Stake in Cencora, Inc. (NYSE:COR)

Key Points

• Waycross Partners LLC increased its holdings in Cencora, Inc. by 50% during the 1st quarter, now owning 15,000 shares valued at approximately $4.17 million.
• Institutional investors hold a significant portion of Cencora's stock, with ownership reaching 97.52%, indicating strong institutional confidence in the company.
• Cencora recently reported a quarterly EPS of $4.00, surpassing analysts' expectations and indicating an 8.7% increase in revenue compared to the previous year.

Waycross Partners LLC boosted its position in Cencora, Inc. (NYSE:COR - Free Report) by 50.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,000 shares of the company's stock after buying an additional 5,000 shares during the quarter. Waycross Partners LLC's holdings in Cencora were worth $4,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Net Worth Advisory Group lifted its position in Cencora by 1.4% during the 1st quarter. Net Worth Advisory Group now owns 2,645 shares of the company's stock valued at $736,000 after acquiring an additional 36 shares during the period. Obermeyer Wealth Partners grew its position in Cencora by 1.3% during the 1st quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company's stock valued at $758,000 after purchasing an additional 36 shares during the last quarter. Cromwell Holdings LLC lifted its stake in shares of Cencora by 9.5% in the first quarter. Cromwell Holdings LLC now owns 450 shares of the company's stock worth $125,000 after buying an additional 39 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its position in shares of Cencora by 2.7% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,565 shares of the company's stock valued at $435,000 after acquiring an additional 41 shares in the last quarter. Finally, Private Trust Co. NA raised its holdings in Cencora by 2.5% in the 1st quarter. Private Trust Co. NA now owns 1,933 shares of the company's stock worth $538,000 after acquiring an additional 47 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors.

Insider Activity

In other Cencora news, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $294.11, for a total value of $1,461,138.48. Following the sale, the chief executive officer owned 42,351 shares of the company's stock, 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 the SEC website. Also, Chairman Steven H. Collis sold 14,578 shares of the company'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. This trade represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,125 shares of company stock worth $9,993,789 over the last ninety days. Insiders own 10.80% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on COR. UBS Group increased their target price on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Citigroup increased their price objective on Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $274.00 to $337.00 in a research report on Tuesday, June 3rd. 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. Finally, Robert W. Baird boosted their price target on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Cencora presently has a consensus rating of "Moderate Buy" and an average price target of $309.83.

Cencora Price Performance

Shares of NYSE COR traded up $7.06 during mid-day trading on Friday, reaching $285.46. The company's stock had a trading volume of 1,106,201 shares, compared to its average volume of 1,099,116. The firm has a market capitalization of $55.33 billion, a PE ratio of 29.37, a P/E/G ratio of 1.36 and a beta of 0.58. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.52. The stock has a fifty day moving average of $292.51 and a two-hundred day moving average of $277.58. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35.

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, topping 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 business had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. During the same period in the prior year, the company posted $3.34 EPS. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

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