HBK Sorce Advisory LLC Takes Position in Cencora, Inc. $COR

HBK Sorce Advisory LLC acquired a new position in shares of Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 11,871 shares of the company’s stock, valued at approximately $3,766,000.

A number of other hedge funds have also modified their holdings of COR. United Bank boosted its position 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 purchasing an additional 305 shares during the period. Nebula Research & Development LLC acquired a new stake in Cencora during the 2nd quarter worth about $595,000. Treasurer of the State of North Carolina raised its holdings in 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 worth $25,647,000 after buying an additional 6,244 shares during the period. Diversify Advisory Services LLC lifted its stake in Cencora by 94.1% during the second quarter. Diversify Advisory Services LLC now owns 2,585 shares of the company’s stock valued at $747,000 after buying an additional 1,253 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Cencora by 26.0% during 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 buying an additional 15,154 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on COR shares. Robert W. Baird set a $370.00 target price on shares of Cencora in a report on Thursday, August 6th. Morgan Stanley boosted their price target on shares of Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a report on Friday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Wells Fargo & Company lifted their price objective on shares of Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $374.25.

Cencora Price Performance

Shares of COR opened at $313.86 on Monday. The business’s 50-day moving average is $298.98 and its 200-day moving average is $312.94. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. The company has a market capitalization of $59.89 billion, a price-to-earnings ratio of 23.32, a P/E/G ratio of 1.80 and a beta of 0.57. Cencora, Inc. has a fifty-two week low of $244.82 and a fifty-two week high of $377.54.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping the consensus estimate of $4.35 by $0.13. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The business had revenue of $84.75 billion during the quarter, compared to analysts’ expectations of $84.31 billion. During the same period last year, the company posted $4.00 earnings per share. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities research analysts expect that Cencora, Inc. will post 17.84 EPS for the current fiscal year.

Cencora Dividend Announcement

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

Cencora announced that its board has authorized a stock repurchase 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other Cencora news, Director Lauren M. Tyler acquired 550 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was purchased 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 owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.38% of the stock is owned by company insiders.

Cencora 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.