Trajan Wealth LLC Invests $43.33 Million in Cencora, Inc. $COR

Trajan Wealth LLC purchased a new stake in Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 153,106 shares of the company’s stock, valued at approximately $43,326,000. Cencora makes up 1.6% of Trajan Wealth LLC’s investment portfolio, making the stock its 16th largest holding. Trajan Wealth LLC owned about 0.08% of Cencora as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in COR. Kemnay Advisory Services Inc. acquired a new position in Cencora in the 4th quarter valued at $25,000. Oakworth Capital Inc. acquired a new position in Cencora in the 4th quarter valued at about $26,000. Elyxium Wealth LLC acquired a new position in Cencora in the fourth quarter valued at approximately $27,000. Elevation Wealth Partners LLC grew its holdings in shares of Cencora by 506.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock worth $27,000 after purchasing an additional 81 shares during the period. Finally, Archer Investment Corp boosted its stake in Cencora by 134.3% during the fourth quarter. Archer Investment Corp now owns 82 shares of the company’s stock worth $28,000 after buying an additional 47 shares during the period. 97.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on COR shares. William Blair assumed coverage on Cencora in a research note on Tuesday, April 28th. They issued a “market perform” rating for the company. Evercore reissued an “outperform” rating and issued a $350.00 price objective on shares of Cencora in a research report on Thursday, August 6th. Wells Fargo & Company raised their target price on Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Weiss Ratings upgraded shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Finally, UBS Group upped their price target on shares of Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $370.85.

Insider Activity at Cencora

In other news, Director Lauren M. Tyler bought 550 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was bought at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the acquisition, the director directly owned 4,359 shares in the company, valued at $1,177,932.57. This represents a 14.44% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.38% of the company’s stock.

Cencora Stock Up 1.7%

Shares of NYSE:COR opened at $323.56 on Tuesday. Cencora, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54. The company has a market capitalization of $61.75 billion, a price-to-earnings ratio of 24.04, a price-to-earnings-growth ratio of 1.83 and a beta of 0.57. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. The company has a 50 day moving average of $303.43 and a two-hundred day moving average of $311.25.

Cencora (NYSE:COR) last released its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.35 by $0.13. The firm had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.00 earnings per share. As a group, analysts forecast that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, August 14th. Cencora’s payout ratio is presently 17.83%.

Cencora announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 21st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Cencora Company Profile

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.