Korea Investment CORP Purchases New Shares in Cencora, Inc. $COR

Korea Investment CORP acquired a new position in shares of Cencora, Inc. (NYSE:COR) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 29,142 shares of the company’s stock, valued at approximately $8,247,000.

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

Cencora Stock Performance

Cencora stock opened at $323.56 on Tuesday. The firm has a 50 day simple moving average of $303.43 and a 200-day simple moving average of $311.25. The stock has a market cap of $61.75 billion, a price-to-earnings ratio of 24.04, a price-to-earnings-growth ratio of 1.83 and a beta of 0.57. 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.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 EPS 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 firm had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. During the same quarter in the previous year, the company earned $4.00 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, analysts expect that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be given a $0.60 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. Cencora’s payout ratio is currently 17.83%.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on COR shares. Wall Street Zen raised Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Royal Bank Of Canada started coverage on Cencora in a report on Wednesday, August 19th. They issued a “sector perform” rating and a $330.00 price objective on the stock. Barclays lowered their target price on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 10th. UBS Group upped their target price on shares of Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Morgan Stanley raised their price target on shares of Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $370.85.

Insider Activity at Cencora

In other Cencora news, Director Lauren M. Tyler purchased 550 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were acquired at an average price of $270.23 per share, with a total value of $148,626.50. Following the purchase, the director directly owned 4,359 shares in the company, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.38% of the stock is currently owned by company insiders.

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.