Van Hulzen Asset Management LLC Acquires Shares of 2,691 Cencora, Inc. $COR

Van Hulzen Asset Management LLC bought a new position in Cencora, Inc. (NYSE:COR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,691 shares of the company’s stock, valued at approximately $762,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Manning & Napier Advisors LLC bought a new stake in Cencora in the 2nd quarter valued at $22,748,000. L2 Asset Management LLC bought a new position in shares of Cencora during the 2nd quarter valued at about $395,000. Vega Investment Solutions bought a new position in shares of Cencora during the 2nd quarter valued at about $2,578,000. Aberdeen Wealth Management LLC purchased a new position in shares of Cencora during the second quarter valued at about $145,000. Finally, Investor s Fiduciary Advisor Network LLC purchased a new position in shares of Cencora during the second quarter valued at about $201,000. Institutional investors own 97.52% of the company’s stock.

Insider Transactions at Cencora

In other news, Director Lauren M. Tyler acquired 550 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was bought at an average cost of $270.23 per share, with a total value of $148,626.50. Following the completion of the purchase, the director directly owned 4,359 shares of the company’s stock, valued at $1,177,932.57. This represents a 14.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Cencora Trading Up 1.7%

Shares of NYSE COR opened at $323.56 on Tuesday. The business’s 50 day moving average is $303.43 and its two-hundred day moving average is $311.25. 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 1-year low of $244.82 and a 1-year high of $377.54. The stock 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.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.35 by $0.13. The business had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the company earned $4.00 EPS. As a group, research analysts expect that Cencora, Inc. will post 17.87 EPS for the current year.

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

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, August 14th. Cencora’s dividend payout ratio is presently 17.83%.

Wall Street Analyst Weigh In

A number of research firms recently commented on COR. UBS Group boosted their target price on Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Morgan Stanley lifted their price objective on Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Weiss Ratings raised Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Finally, Wells Fargo & Company increased their target price on Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.