PensionDanmark Pensionsforsikringsaktieselskab lifted its stake in shares of Cencora, Inc. (NYSE:COR – Free Report) by 6.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,334 shares of the company’s stock after purchasing an additional 1,801 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Cencora were worth $8,867,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Kemnay Advisory Services Inc. acquired a new position in Cencora during the 4th quarter valued at approximately $25,000. Oakworth Capital Inc. acquired a new stake in Cencora in the fourth quarter worth $26,000. Elyxium Wealth LLC acquired a new stake in Cencora in the fourth quarter worth $27,000. Archer Investment Corp lifted its stake in Cencora by 134.3% in the fourth quarter. Archer Investment Corp now owns 82 shares of the company’s stock valued at $28,000 after buying an additional 47 shares during the last quarter. Finally, Motiv8 Investments LLC bought a new stake in Cencora in the fourth quarter valued at $29,000. Institutional investors own 97.52% of the company’s stock.
Insider Buying and Selling
In related news, Director Lauren M. Tyler bought 550 shares of the stock in a transaction on Monday, June 22nd. The shares were purchased at an average price of $270.23 per share, with a total value of $148,626.50. Following the purchase, the director owned 4,359 shares in the company, valued at approximately $1,177,932.57. This represents a 14.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.38% of the company’s stock.
Cencora Trading Down 1.3%
Cencora (NYSE:COR – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, beating analysts’ consensus estimates of $4.35 by $0.13. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The company had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. During the same period last year, the company earned $4.00 earnings per share. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, research analysts expect that Cencora, Inc. will post 17.83 EPS for the current year.
Cencora declared that its board has approved a share buyback plan on Thursday, May 21st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 3.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Cencora Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, August 14th. Cencora’s dividend payout ratio is currently 17.83%.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the stock. Barclays lowered their price target on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. Wells Fargo & Company cut their price objective on shares of Cencora from $429.00 to $331.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Bank of America boosted their target price on shares of Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. UBS Group upped their target price on shares of Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, William Blair assumed coverage on shares of Cencora in a research note on Tuesday, April 28th. They issued a “market perform” rating on the stock. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $368.92.
Get Our Latest Stock 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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