PCM Encore LLC acquired a new stake in Cencora, Inc. (NYSE:COR – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,595 shares of the company’s stock, valued at approximately $451,000.
A number of other institutional investors have also recently added to or reduced their stakes in COR. Kemnay Advisory Services Inc. acquired a new stake in shares of Cencora during the 4th quarter valued at approximately $25,000. Oakworth Capital Inc. acquired a new stake in shares of Cencora in the 4th quarter worth approximately $26,000. Elyxium Wealth LLC acquired a new stake in shares of Cencora in the 4th quarter worth approximately $27,000. Elevation Wealth Partners LLC increased its stake in Cencora by 506.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock valued at $27,000 after purchasing an additional 81 shares in the last quarter. Finally, Archer Investment Corp increased its stake in Cencora by 134.3% in the 4th quarter. Archer Investment Corp now owns 82 shares of the company’s stock valued at $28,000 after purchasing an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. Robert W. Baird set a $370.00 price objective on Cencora in a report on Thursday, August 6th. Barclays lowered their target price on Cencora from $425.00 to $350.00 and set an “overweight” rating on the stock in a report on Wednesday, June 10th. Weiss Ratings raised Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Wall Street Zen raised Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, William Blair began coverage on shares of Cencora in a research report on Tuesday, April 28th. They issued a “market perform” rating on the stock. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $370.85.
Cencora Stock Down 0.6%
COR opened at $315.15 on Friday. The firm has a market cap of $60.14 billion, a P/E ratio of 23.41, a PEG ratio of 1.82 and a beta of 0.57. The business’s fifty day simple moving average is $301.86 and its 200 day simple moving average is $311.85. Cencora, Inc. has a 52 week low of $244.82 and a 52 week high of $377.54. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53.
Cencora (NYSE:COR – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.35 by $0.13. The firm had revenue of $84.75 billion during the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.00 EPS. As a group, equities research analysts anticipate that Cencora, Inc. will post 17.87 EPS for the current fiscal year.
Cencora Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, August 14th. Cencora’s dividend payout ratio is presently 17.83%.
Cencora declared that its board has approved a share repurchase program on Thursday, May 21st that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
Insider Activity at Cencora
In related news, Director Lauren M. Tyler acquired 550 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was bought at an average price of $270.23 per share, with a total value of $148,626.50. Following the purchase, the director directly owned 4,359 shares in the company, valued at $1,177,932.57. The trade was a 14.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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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