Core Capital Management & Research inc. purchased a new stake in shares of Cencora, Inc. (NYSE:COR – Free Report) in the second quarter, Holdings Channel.com reports. The firm purchased 15,845 shares of the company’s stock, valued at approximately $4,484,000. Cencora accounts for about 2.4% of Core Capital Management & Research inc.’s holdings, making the stock its 17th largest holding.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new position in shares of Cencora in the fourth quarter valued at approximately $25,000. Elyxium Wealth LLC purchased a new position in shares of Cencora during the fourth quarter valued at approximately $27,000. Motiv8 Investments LLC bought a new stake in Cencora during the fourth quarter worth $29,000. Basepoint Wealth LLC bought a new stake in Cencora during the fourth quarter worth $32,000. Finally, Elevation Wealth Partners LLC raised its position 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 buying an additional 81 shares during the last quarter. 97.52% of the stock is owned by institutional investors.
Insider Activity at Cencora
In related news, Director Lauren M. Tyler purchased 550 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were bought at an average price of $270.23 per share, with a total value of $148,626.50. Following the acquisition, the director owned 4,359 shares of the company’s stock, valued at $1,177,932.57. This trade represents a 14.44% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth Campbell sold 11,300 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the completion of the transaction, the executive vice president owned 19,455 shares in the company, valued at approximately $6,305,754.60. The trade was a 36.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.38% of the company’s stock.
Wall Street Analysts Forecast Growth
View Our Latest Stock Analysis on COR
Cencora Trading Down 0.2%
NYSE COR opened at $323.89 on Thursday. The business’s fifty day moving average is $314.82 and its 200-day moving average is $308.81. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. The stock has a market capitalization of $61.81 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 1.84 and a beta of 0.57. Cencora, Inc. has a one year low of $244.82 and a one year high of $377.54.
Cencora (NYSE:COR – Get Free Report) last posted its quarterly 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. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The company had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. During the same quarter in the prior year, the business earned $4.00 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts predict that Cencora, Inc. will post 17.87 EPS for the current year.
Cencora announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 21st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.
Cencora Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 14th. Cencora’s dividend payout ratio is currently 17.83%.
About Cencora
Cencora, Inc (NYSE:COR) is a global healthcare company that provides pharmaceutical sourcing, distribution and related services. The company connects biopharmaceutical manufacturers with pharmacies, hospitals, health systems, physician practices and other healthcare providers, helping move prescription medicines and healthcare products through the supply chain.
Cencora’s operations include pharmaceutical distribution, specialty pharmaceutical services, manufacturer support and patient-centered solutions.
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