Commerce Bank Takes Position in Cencora, Inc. $COR

Commerce Bank bought a new position in shares of Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,299 shares of the company’s stock, valued at approximately $6,876,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. United Bank raised its stake in Cencora by 4.5% during the 2nd quarter. United Bank now owns 7,032 shares of the company’s stock valued at $2,109,000 after acquiring an additional 305 shares during the last quarter. Nebula Research & Development LLC purchased a new position in shares of Cencora in the 2nd quarter valued at approximately $595,000. Treasurer of the State of North Carolina grew its stake in shares of Cencora by 7.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 85,534 shares of the company’s stock valued at $25,647,000 after purchasing an additional 6,244 shares during the last quarter. Diversify Advisory Services LLC increased its holdings in shares of Cencora by 94.1% in the second quarter. Diversify Advisory Services LLC now owns 2,585 shares of the company’s stock valued at $747,000 after purchasing an additional 1,253 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Cencora by 26.0% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 73,452 shares of the company’s stock valued at $22,025,000 after purchasing an additional 15,154 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Trading Down 0.0%

Shares of COR stock opened at $317.89 on Monday. The business’s fifty day moving average price is $302.59 and its 200 day moving average price is $311.52. The firm has a market capitalization of $60.66 billion, a PE ratio of 23.62, a P/E/G ratio of 1.83 and a beta of 0.57. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. Cencora, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54.

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

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be paid a $0.60 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. Cencora’s dividend payout ratio (DPR) is 17.83%.

Cencora declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 21st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on COR shares. Wall Street Zen raised Cencora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Evercore reissued an “outperform” rating and issued a $350.00 price objective on shares of Cencora in a research note on Thursday, August 6th. Barclays cut their price objective on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. William Blair started coverage on shares of Cencora in a research note on Tuesday, April 28th. They issued a “market perform” rating for the company. Finally, Bank of America lifted their target price on shares of Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, June 24th. Thirteen investment 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 has an average rating of “Moderate Buy” and an average target price of $370.85.

Insider Activity at Cencora

In related news, Director Lauren M. Tyler acquired 550 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were purchased at an average price of $270.23 per share, with a total value of $148,626.50. Following the completion of the acquisition, the director owned 4,359 shares in the company, valued at approximately $1,177,932.57. This represents a 14.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.38% of the stock is owned by company insiders.

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.