Czech National Bank lifted its position in Cencora, Inc. (NYSE:COR – Free Report) by 4.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,380 shares of the company’s stock after purchasing an additional 2,400 shares during the quarter. Czech National Bank’s holdings in Cencora were worth $15,671,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. United Bank boosted its stake in Cencora by 4.5% during the second quarter. United Bank now owns 7,032 shares of the company’s stock worth $2,109,000 after buying an additional 305 shares in the last quarter. Nebula Research & Development LLC acquired a new position in shares of Cencora in the 2nd quarter valued at $595,000. Treasurer of the State of North Carolina lifted its holdings 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 worth $25,647,000 after acquiring an additional 6,244 shares during the period. Diversify Advisory Services LLC lifted its holdings in shares of Cencora by 94.1% during the 2nd quarter. Diversify Advisory Services LLC now owns 2,585 shares of the company’s stock worth $747,000 after acquiring an additional 1,253 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Cencora by 26.0% during the 2nd 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 acquiring an additional 15,154 shares in the last quarter. 97.52% of the stock is owned by institutional investors.
Cencora Stock Down 1.3%
Shares of NYSE:COR opened at $320.62 on Friday. Cencora, Inc. has a 52 week low of $244.82 and a 52 week high of $377.54. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.59 and a current ratio of 0.93. The company’s fifty day moving average is $293.89 and its 200-day moving average is $314.42. The company has a market capitalization of $62.38 billion, a PE ratio of 23.82, a P/E/G ratio of 1.84 and a beta of 0.57.
Cencora announced that its board has authorized a share buyback plan on Thursday, May 21st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
Cencora Dividend Announcement
The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. Cencora’s dividend payout ratio (DPR) is presently 17.83%.
Insider Buying and Selling at Cencora
In other news, Director Lauren M. Tyler bought 550 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was bought at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the purchase, the director 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.38% of the company’s stock.
Wall Street Analyst Weigh In
COR has been the topic of a number of analyst reports. Weiss Ratings raised shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Wall Street Zen upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research note on Saturday. Evercore reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Cencora in a report on Thursday. Morgan Stanley lifted their price objective on Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a report on Friday. Finally, William Blair initiated coverage on Cencora in a research note on Tuesday, April 28th. They issued a “market perform” rating on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $368.92.
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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