59,186 Shares in Cencora, Inc. $COR Bought by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio acquired 59,186 Cencora shares worth approximately $16.75 million in the second quarter. Institutional investors collectively own 97.52% of the company.
• Cencora reported quarterly EPS of $4.48, beating estimates of $4.35, while revenue rose 5.1% year over year to $84.75 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $370.85.
• The company authorized a $2 billion share-repurchase program and declared a quarterly dividend of $0.60 per share, representing a 0.7% annualized yield.

Public Employees Retirement System of Ohio acquired a new stake in Cencora, Inc. (NYSE:COR - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 59,186 shares of the company's stock, valued at approximately $16,748,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. ExodusPoint Capital Management LP acquired a new position in shares of Cencora in the 4th quarter worth approximately $16,487,000. Impact Partnership Wealth LLC acquired a new stake in shares of Cencora during the 1st quarter valued at approximately $1,170,000. Deutsche Bank AG bought a new position in Cencora during the second quarter worth $286,673,000. SEB Asset Management AB bought a new position in Cencora during the first quarter worth $134,139,000. Finally, PFA Pension Forsikringsaktieselskab acquired a new position in Cencora in the fourth quarter worth $59,145,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

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 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 $1,177,932.57. This trade represents a 14.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the firm's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the transaction, the executive vice president directly owned 19,455 shares in the company, valued at $6,305,754.60. This trade represents a 36.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.38% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on COR. Citigroup reiterated a "buy" rating on shares of Cencora in a research note on Thursday, August 6th. Evercore restated an "outperform" rating and issued a $350.00 target price on shares of Cencora in a research note on Thursday, August 6th. Robert W. Baird set a $370.00 target price on Cencora in a report on Thursday, August 6th. Wall Street Zen upgraded Cencora from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Weiss Ratings raised 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 given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $370.85.

Cencora Stock Up 0.3%

COR stock opened at $322.12 on Friday. The stock has a market cap of $61.47 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 1.85 and a beta of 0.57. The firm's 50-day simple moving average is $307.38 and its 200 day simple moving average is $310.88. Cencora, Inc. has a fifty-two week low of $244.82 and a fifty-two week high of $377.54. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53.

Cencora (NYSE:COR - Get Free Report) last posted its 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 net margin of 0.79% and a return on equity of 125.45%. The firm had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. During the same period in the previous year, the business posted $4.00 EPS. Cencora's revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts predict that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora announced that its board has approved a share repurchase program on Thursday, May 21st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are undervalued.

Cencora Announces Dividend

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

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.

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