Portfolio Design Labs LLC Makes New Investment in Cencora, Inc. $COR

Portfolio Design Labs LLC bought a new stake in Cencora, Inc. (NYSE:COR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,453 shares of the company’s stock, valued at approximately $977,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of COR. Accent Capital Management LLC raised its holdings in shares of Cencora by 36.1% in the 4th quarter. Accent Capital Management LLC now owns 113 shares of the company’s stock worth $38,000 after purchasing an additional 30 shares during the period. MCF Advisors LLC grew its holdings in Cencora by 11.0% during the fourth quarter. MCF Advisors LLC now owns 303 shares of the company’s stock valued at $102,000 after purchasing an additional 30 shares during the period. CYBER HORNET ETFs LLC grew its holdings in Cencora by 6.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 485 shares of the company’s stock valued at $164,000 after purchasing an additional 31 shares during the period. Steph & Co. increased its position in Cencora by 23.5% in the first quarter. Steph & Co. now owns 168 shares of the company’s stock worth $53,000 after buying an additional 32 shares during the last quarter. Finally, Beacon Pointe Advisors LLC increased its position in Cencora by 1.1% in the fourth quarter. Beacon Pointe Advisors LLC now owns 3,492 shares of the company’s stock worth $1,180,000 after buying an additional 37 shares during the last quarter. 97.52% of the stock is owned by institutional investors.

Cencora Stock Performance

NYSE:COR opened at $315.15 on Friday. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54. The stock 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 company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. The business’s 50-day moving average price is $301.86 and its two-hundred day moving average price is $311.85.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping analysts’ consensus estimates of $4.35 by $0.13. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The business had revenue of $84.75 billion during the quarter, compared to analysts’ expectations of $84.31 billion. During the same quarter in the previous year, the company earned $4.00 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts predict that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora announced that its board has authorized a share repurchase plan on Thursday, May 21st that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.8%. Cencora’s dividend payout ratio is currently 17.83%.

Insider Activity

In other Cencora news, Director Lauren M. Tyler acquired 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, with a total value of $148,626.50. Following the purchase, the director owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on COR. UBS Group upped their price target on Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Morgan Stanley lifted their price objective on Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Citigroup restated a “buy” rating on shares of Cencora in a research note on Thursday, August 6th. William Blair assumed coverage on shares of Cencora in a report on Tuesday, April 28th. They set a “market perform” rating on the stock. Finally, Evercore reiterated an “outperform” rating and set a $350.00 target price on shares of Cencora in a research report on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $370.85.

Cencora 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.