Saudi Central Bank grew its position in Cencora, Inc. (NYSE:COR – Free Report) by 90.2% in the second quarter, Holdings Channel reports. The fund owned 12,936 shares of the company’s stock after acquiring an additional 6,133 shares during the quarter. Saudi Central Bank’s holdings in Cencora were worth $3,661,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COR. BlackRock Inc. acquired a new stake in Cencora in the second quarter valued at $5,154,136,000. State Street Corp boosted its holdings in shares of Cencora by 1.3% during the 4th quarter. State Street Corp now owns 9,305,507 shares of the company’s stock worth $3,142,935,000 after buying an additional 115,191 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Cencora by 160.1% during the fourth 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 period. Geode Capital Management LLC boosted its holdings in Cencora by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 5,459,476 shares of the company’s stock worth $1,843,268,000 after acquiring an additional 169,055 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Cencora by 6.5% in the 4th quarter. JPMorgan Chase & Co. now owns 4,982,557 shares of the company’s stock valued at $1,682,859,000 after purchasing an additional 304,760 shares during the period. 97.52% of the stock is currently owned by institutional investors and hedge funds.
Cencora Trading Down 0.1%
NYSE COR opened at $330.52 on Monday. The firm has a market cap of $63.07 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 1.88 and a beta of 0.57. Cencora, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53. The stock has a 50-day moving average of $312.33 and a 200-day moving average of $309.52.
Cencora Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. Cencora’s payout ratio is 17.83%.
Cencora declared that its board has initiated a stock repurchase program on Thursday, May 21st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of brokerages have commented on COR. Royal Bank Of Canada initiated coverage on Cencora in a report on Wednesday, August 19th. They set a “sector perform” rating and a $330.00 price objective for the company. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Bank of America boosted their price objective on Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. Wells Fargo & Company upped their target price on shares of Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Finally, Citigroup reaffirmed a “buy” rating on shares of Cencora in a report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $370.85.
View Our Latest Research Report on COR
Insider Buying and Selling at Cencora
In related news, EVP Elizabeth S. Campbell sold 11,300 shares of Cencora stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the sale, the executive vice president directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lauren M. Tyler bought 550 shares of Cencora stock in a transaction dated Monday, June 22nd. The stock was acquired at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the transaction, the director directly owned 4,359 shares in the company, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.38% of the stock is currently owned by corporate 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.
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