National Pension Service Boosts Position in Cencora, Inc. $COR

National Pension Service increased its position in shares of Cencora, Inc. (NYSE:COR) by 3.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 737,713 shares of the company’s stock after acquiring an additional 27,882 shares during the quarter. National Pension Service’s holdings in Cencora were worth $208,758,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COR. United Bank grew its stake in shares of Cencora by 4.5% in the 2nd quarter. United Bank now owns 7,032 shares of the company’s stock valued at $2,109,000 after buying an additional 305 shares during the period. Nebula Research & Development LLC purchased a new stake in shares of Cencora during the 2nd quarter valued at approximately $595,000. Treasurer of the State of North Carolina raised its position in shares of Cencora by 7.9% during 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 buying an additional 6,244 shares during the period. Diversify Advisory Services LLC lifted its holdings in 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 acquiring an additional 1,253 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in 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 worth $22,025,000 after acquiring an additional 15,154 shares during the period. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Down 0.6%

NYSE:COR opened at $321.34 on Friday. 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 stock’s fifty day moving average is $315.32 and its two-hundred day moving average is $308.53. Cencora, Inc. has a 52 week low of $244.82 and a 52 week high of $377.54. The stock has a market capitalization of $61.32 billion, a price-to-earnings ratio of 23.87, a price-to-earnings-growth ratio of 1.83 and a beta of 0.57.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating analysts’ consensus estimates of $4.35 by $0.13. The business had revenue of $84.75 billion during the quarter, compared to analysts’ expectations of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The company’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $4.00 earnings per share. Research analysts anticipate that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora announced that its board has initiated a share buyback program on Thursday, May 21st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Cencora Dividend Announcement

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

Insider Activity

In other news, EVP Elizabeth S. Campbell sold 11,300 shares of the firm’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 value of $3,662,556.00. Following the completion of the transaction, the executive vice president owned 19,455 shares of the company’s stock, valued at approximately $6,305,754.60. This trade represents a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lauren M. Tyler acquired 550 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was acquired at an average price 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 approximately $1,177,932.57. This represents a 14.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on COR shares. Barclays reduced their target price on Cencora from $425.00 to $350.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 10th. Evercore reiterated an “outperform” rating and set a $350.00 price target on shares of Cencora in a report on Thursday, August 6th. Bank of America raised their price objective on Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Robert W. Baird set a $370.00 price objective on shares of Cencora in a report on Thursday, August 6th. Finally, Wells Fargo & Company upped their target price on shares of Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $370.85.

Cencora Company Profile

Cencora, Inc (NYSE:COR) is a global healthcare company that provides pharmaceutical sourcing, distribution and related services. The company connects biopharmaceutical manufacturers with pharmacies, hospitals, health systems, physician practices and other healthcare providers, helping move prescription medicines and healthcare products through the supply chain.

Cencora’s operations include pharmaceutical distribution, specialty pharmaceutical services, manufacturer support and patient-centered solutions.