Kendall Capital Management Takes $4.89 Million Position in Cencora, Inc. $COR

Kendall Capital Management bought a new position in shares of Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 17,265 shares of the company’s stock, valued at approximately $4,886,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Accent Capital Management LLC raised its position in Cencora by 36.1% during the fourth quarter. Accent Capital Management LLC now owns 113 shares of the company’s stock worth $38,000 after acquiring an additional 30 shares during the period. MCF Advisors LLC grew its position in shares of Cencora by 11.0% in 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 position in shares of Cencora by 6.8% in 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 stake in shares of Cencora by 23.5% during the first quarter. Steph & Co. now owns 168 shares of the company’s stock worth $53,000 after purchasing an additional 32 shares in the last quarter. Finally, Beacon Pointe Advisors LLC raised its position in shares of Cencora by 1.1% during the 4th quarter. Beacon Pointe Advisors LLC now owns 3,492 shares of the company’s stock worth $1,180,000 after purchasing an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Stock Up 1.0%

COR stock opened at $317.89 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53. The firm has a 50-day moving average of $302.59 and a two-hundred day moving average of $311.89. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54. The company has a market cap of $60.66 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.83 and a beta of 0.57.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $84.31 billion. During the same period in the prior year, the business earned $4.00 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. As a group, analysts forecast that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora announced that its board has initiated a stock buyback 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 stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be issued 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%.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on COR. William Blair began coverage on shares of Cencora in a research note on Tuesday, April 28th. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. raised their target price on Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Royal Bank Of Canada initiated coverage on Cencora in a research note on Wednesday. They issued a “sector perform” rating and a $330.00 price target on the stock. Morgan Stanley increased their price objective on Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Weiss Ratings upgraded Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $370.85.

Cencora Company 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.