8,351 Shares in Cencora, Inc. $COR Bought by Global Retirement Partners LLC

Key Points

• Global Retirement Partners LLC acquired 8,351 Cencora shares worth approximately $2.36 million, while institutional investors collectively own 97.52% of the company.
• Cencora exceeded quarterly earnings expectations, reporting $4.48 EPS and $84.75 billion in revenue; revenue increased 5.1% year over year.
• The company authorized a $2 billion share-repurchase program and maintains a $0.60 quarterly dividend. Analysts hold a “Moderate Buy” consensus rating with an average price target of $374.25.

Global Retirement Partners LLC acquired a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,351 shares of the company's stock, valued at approximately $2,363,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Kemnay Advisory Services Inc. bought a new position in Cencora in the 4th quarter worth about $25,000. Oakworth Capital Inc. bought a new stake in shares of Cencora during the 4th quarter valued at about $26,000. Elyxium Wealth LLC bought a new stake in shares of Cencora during the 4th quarter valued at about $27,000. Elevation Wealth Partners LLC grew its holdings in shares of Cencora by 506.2% during the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company's stock worth $27,000 after purchasing an additional 81 shares in the last quarter. Finally, Archer Investment Corp grew its holdings in shares of Cencora by 134.3% during the fourth quarter. Archer Investment Corp now owns 82 shares of the company's stock worth $28,000 after purchasing an additional 47 shares in the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Stock Performance

Shares of NYSE COR opened at $313.86 on Monday. The stock has a market cap of $59.89 billion, a price-to-earnings ratio of 23.32, a P/E/G ratio of 1.80 and a beta of 0.57. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53. Cencora, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54. The stock's 50-day moving average is $298.98 and its 200 day moving average is $312.94.

Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the firm earned $4.00 earnings per share. Cencora's revenue for the quarter was up 5.1% on a year-over-year basis. On average, sell-side analysts anticipate that Cencora, Inc. will post 17.84 EPS for the current fiscal year.

Cencora announced that its board has initiated a stock repurchase plan on Thursday, May 21st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. Cencora's dividend payout ratio is 17.83%.

Insider Activity

In other Cencora news, Director Lauren M. Tyler bought 550 shares of Cencora stock in a transaction that occurred on Monday, June 22nd. The shares were bought at an average price of $270.23 per share, with a total value of $148,626.50. Following the acquisition, the director owned 4,359 shares in the company, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on COR shares. Evercore reaffirmed an "outperform" rating and issued a $350.00 target price on shares of Cencora in a research note on Thursday, August 6th. William Blair started coverage on shares of Cencora in a research note on Tuesday, April 28th. They issued a "market perform" rating for the company. Barclays decreased their price target on shares of Cencora from $425.00 to $350.00 and set an "overweight" rating on the stock in a report on Wednesday, June 10th. UBS Group raised their price objective on shares of Cencora from $412.00 to $430.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Finally, Wall Street Zen raised shares of Cencora from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Cencora currently has a consensus rating of "Moderate Buy" and an average target price of $374.25.

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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