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

Trajan Wealth LLC bought a new stake in shares of Cencora, Inc. (NYSE:COR) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 153,106 shares of the company’s stock, valued at approximately $43,326,000. Cencora makes up approximately 1.6% of Trajan Wealth LLC’s holdings, making the stock its 16th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Cencora by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 23,617,117 shares of the company’s stock valued at $7,976,681,000 after purchasing an additional 221,570 shares during the period. BlackRock Inc. bought a new position in Cencora during the second quarter worth $5,154,136,000. State Street Corp increased its position in Cencora by 1.3% during the fourth quarter. State Street Corp now owns 9,305,507 shares of the company’s stock worth $3,142,935,000 after acquiring an additional 115,191 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in Cencora by 160.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock valued at $2,262,956,000 after purchasing an additional 4,123,795 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Cencora by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 5,459,476 shares of the company’s stock valued at $1,843,268,000 after purchasing an additional 169,055 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Activity at Cencora

In other Cencora news, Director Lauren M. Tyler bought 550 shares of Cencora stock in a transaction dated Monday, June 22nd. The shares were acquired at an average cost of $270.23 per share, with a total value of $148,626.50. Following the acquisition, the director directly owned 4,359 shares of the company’s stock, valued at $1,177,932.57. The trade was a 14.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on COR. Weiss Ratings upgraded shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Citigroup reissued a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Wells Fargo & Company boosted their price target on Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Barclays cut their price target on Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a report on Wednesday, June 10th. Finally, JPMorgan Chase & Co. raised their price objective on Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $370.85.

Cencora Price Performance

Shares of Cencora stock opened at $323.56 on Tuesday. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. The firm’s 50-day simple moving average is $303.43 and its 200-day simple moving average is $311.25. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54. The firm has a market cap of $61.75 billion, a P/E ratio of 24.04, a price-to-earnings-growth ratio of 1.83 and a beta of 0.57.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, topping 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 company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.00 earnings per share. As a group, research analysts expect that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora declared that its Board of Directors has initiated a share buyback program on Thursday, May 21st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Cencora Dividend Announcement

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

About Cencora

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.