62,123 Shares in Cencora, Inc. $COR Purchased by Cibc World Market Inc.

Cibc World Market Inc. purchased a new stake in shares of Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 62,123 shares of the company’s stock, valued at approximately $17,580,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. purchased a new stake in shares of Cencora during the 4th quarter worth approximately $25,000. Oakworth Capital Inc. purchased a new position in Cencora in the fourth quarter valued at approximately $26,000. Elyxium Wealth LLC purchased a new position in Cencora in the fourth quarter valued at approximately $27,000. Elevation Wealth Partners LLC grew its holdings in Cencora by 506.2% during the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock valued at $27,000 after purchasing an additional 81 shares during the period. Finally, Archer Investment Corp grew its holdings in Cencora by 134.3% during the fourth quarter. Archer Investment Corp now owns 82 shares of the company’s stock valued at $28,000 after purchasing an additional 47 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on COR. Weiss Ratings upgraded Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Robert W. Baird set a $370.00 price target on Cencora in a research note on Thursday, August 6th. Wells Fargo & Company boosted their price objective on Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. UBS Group upped their price objective on shares of Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Citigroup reaffirmed a “buy” rating on shares of Cencora in a report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and a consensus price target of $370.85.

Cencora Price Performance

Cencora stock opened at $323.56 on Tuesday. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. Cencora, Inc. has a one year low of $244.82 and a one year high of $377.54. The firm has a market capitalization of $61.75 billion, a P/E ratio of 24.04, a PEG ratio of 1.83 and a beta of 0.57. The business has a fifty day moving average price of $303.43 and a 200-day moving average price of $311.25.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, topping 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 business had revenue of $84.75 billion for the quarter, compared to analysts’ expectations of $84.31 billion. During the same quarter in the prior year, the firm posted $4.00 EPS. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts forecast that Cencora, Inc. will post 17.87 EPS for the current year.

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 given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, August 14th. Cencora’s dividend payout ratio (DPR) is 17.83%.

Cencora declared that its Board of Directors has approved a stock buyback plan on Thursday, May 21st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Cencora

In other news, Director Lauren M. Tyler acquired 550 shares of Cencora stock in a transaction that occurred on 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 completion of the purchase, the director owned 4,359 shares in the company, valued at approximately $1,177,932.57. The trade was a 14.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.38% of the company’s stock.

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.