Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Cencora, Inc. (NYSE:COR – Free Report) by 2,943.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 233,219 shares of the company’s stock after acquiring an additional 225,555 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Cencora were worth $73,263,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in COR. Kemnay Advisory Services Inc. purchased a new position in shares of Cencora in the fourth quarter worth $25,000. Oakworth Capital Inc. bought a new stake in Cencora in the 4th quarter valued at $26,000. Elyxium Wealth LLC bought a new stake in Cencora in the 4th quarter valued at $27,000. Archer Investment Corp lifted 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 purchasing an additional 47 shares in the last quarter. Finally, Motiv8 Investments LLC bought a new position in shares of Cencora during the 4th quarter valued at about $29,000. Institutional investors own 97.52% of the company’s stock.
Cencora Trading Up 1.5%
COR opened at $309.67 on Friday. The stock has a 50-day moving average of $284.52 and a 200 day moving average of $316.47. The company has a current ratio of 0.95, a quick ratio of 0.59 and a debt-to-equity ratio of 3.40. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54. The firm has a market cap of $60.25 billion, a P/E ratio of 23.75, a P/E/G ratio of 1.72 and a beta of 0.58.
Cencora declared that its board has approved a share repurchase plan on Thursday, May 21st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
Cencora Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. Cencora’s dividend payout ratio is currently 18.40%.
Insider Activity
In other news, Director Lauren M. Tyler bought 550 shares of the stock in a transaction dated Monday, June 22nd. The stock was purchased at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the acquisition, the director owned 4,359 shares of the company’s stock, valued at $1,177,932.57. The trade was a 14.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.38% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on COR. Weiss Ratings cut Cencora from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 30th. William Blair began coverage on Cencora in a research note on Tuesday, April 28th. They issued a “market perform” rating on the stock. Evercore set a $360.00 price objective on Cencora in a report on Wednesday, April 8th. Bank of America increased their target price on Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday, June 24th. Finally, Morgan Stanley set a $342.00 target price on shares of Cencora in a report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $367.75.
Get Our Latest Report on Cencora
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.
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