Caisse de depot et placement du Quebec Makes New Investment in Cencora, Inc. $COR

Caisse de depot et placement du Quebec acquired a new stake in Cencora, Inc. (NYSE:COR) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 914,234 shares of the company’s stock, valued at approximately $258,710,000.

Several other institutional investors and hedge funds also recently modified their holdings of COR. Kemnay Advisory Services Inc. acquired a new stake in shares of Cencora during the fourth quarter valued at $25,000. Oakworth Capital Inc. acquired a new position in Cencora in the fourth quarter valued at $26,000. Elyxium Wealth LLC purchased a new position in Cencora during the fourth quarter worth about $27,000. Elevation Wealth Partners LLC lifted its position in Cencora by 506.2% during the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock worth $27,000 after buying an additional 81 shares during the period. Finally, Archer Investment Corp boosted its stake in Cencora by 134.3% in the 4th quarter. Archer Investment Corp now owns 82 shares of the company’s stock worth $28,000 after buying an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on COR shares. Barclays dropped their price target 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. Wells Fargo & Company boosted their price objective on shares of Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Morgan Stanley upped their price objective on Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Citigroup reaffirmed a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada began coverage on Cencora in a report on Wednesday, August 19th. They issued a “sector perform” rating and a $330.00 target price on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Cencora has an average rating of “Moderate Buy” and an average price target of $370.85.

Insider Activity

In related news, Director Lauren M. Tyler bought 550 shares of Cencora stock in a transaction dated Monday, June 22nd. The stock was purchased at an average cost of $270.23 per share, with a total value of $148,626.50. Following the transaction, the director directly owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. The trade was a 14.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the sale, the executive vice president owned 19,455 shares in the company, valued at $6,305,754.60. The trade was a 36.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.38% of the stock is currently owned by insiders.

Cencora Trading Down 0.0%

COR stock opened at $327.94 on Thursday. The stock has a market cap of $62.58 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 1.88 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 one year low of $244.82 and a one year high of $377.54. The company has a fifty day moving average price of $305.39 and a two-hundred day moving average price of $311.07.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping analysts’ consensus estimates of $4.35 by $0.13. The business had revenue of $84.75 billion for 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%. Cencora’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the firm earned $4.00 earnings per share. Equities analysts anticipate that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.60 per share. 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 17.83%.

Cencora declared that its board has approved a stock buyback program on Thursday, May 21st that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management 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.