Te Ahumairangi Investment Management Ltd Invests $2.14 Million in Cencora, Inc. $COR

Te Ahumairangi Investment Management Ltd purchased a new stake in shares of Cencora, Inc. (NYSE:COR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,570 shares of the company’s stock, valued at approximately $2,142,000.

Other hedge funds have also made changes to their positions in the company. United Bank raised its stake in Cencora by 4.5% during the 2nd quarter. United Bank now owns 7,032 shares of the company’s stock valued at $2,109,000 after purchasing an additional 305 shares during the period. Nebula Research & Development LLC acquired a new stake in shares of Cencora in the second quarter worth $595,000. Treasurer of the State of North Carolina grew its holdings in shares of Cencora by 7.9% during the second quarter. Treasurer of the State of North Carolina now owns 85,534 shares of the company’s stock valued at $25,647,000 after buying an additional 6,244 shares in the last quarter. Diversify Advisory Services LLC grew its holdings in shares of Cencora by 94.1% during the second quarter. Diversify Advisory Services LLC now owns 2,585 shares of the company’s stock valued at $747,000 after buying an additional 1,253 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Cencora by 26.0% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 73,452 shares of the company’s stock valued at $22,025,000 after buying an additional 15,154 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on COR shares. William Blair began coverage on Cencora in a research note on Tuesday, April 28th. They issued a “market perform” rating for the company. Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Evercore reissued an “outperform” rating and issued a $350.00 price target on shares of Cencora in a research report on Thursday, August 6th. UBS Group raised their price target 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, Wells Fargo & Company upped their price objective on shares of Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and an average target price of $370.85.

Cencora Stock Performance

Shares of COR stock opened at $317.89 on Monday. Cencora, Inc. has a fifty-two week low of $244.82 and a fifty-two week high of $377.54. The stock’s 50-day moving average is $302.59 and its two-hundred day moving average is $311.52. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. The firm has a market cap of $60.66 billion, a P/E ratio of 23.62, a PEG ratio of 1.83 and a beta of 0.57.

Cencora (NYSE:COR) last announced its quarterly earnings results 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 firm’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $4.00 EPS. Analysts predict that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Announces Dividend

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 given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.8%. Cencora’s payout ratio is currently 17.83%.

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

Insider Transactions at Cencora

In other news, Director Lauren M. Tyler purchased 550 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was bought at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the acquisition, the director directly owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. The trade was a 14.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.38% of the stock is 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.