989,959 Shares in Cencora, Inc. $COR Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp purchased a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 989,959 shares of the company's stock, valued at approximately $280,138,000. Bank of New York Mellon Corp owned 0.51% of Cencora as of its most recent filing with the Securities & Exchange Commission.

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

Cencora Stock Performance

Cencora stock opened at $317.89 on Friday. The firm's fifty day moving average price is $302.59 and its 200-day moving average price is $311.89. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. The stock has a market cap of $60.66 billion, a P/E ratio of 23.62, a price-to-earnings-growth ratio of 1.83 and a beta of 0.57. Cencora, Inc. has a fifty-two week low of $244.82 and a fifty-two week high of $377.54.

Cencora (NYSE:COR - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, beating analysts' consensus estimates of $4.35 by $0.13. The business had revenue of $84.75 billion for the quarter, compared to analysts' expectations 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 quarter in the prior year, the firm earned $4.00 earnings per share. On average, equities research analysts expect that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently declared 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. This represents a $2.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, August 14th. Cencora's dividend payout ratio (DPR) is presently 17.83%.

Cencora declared that its Board of Directors has approved a share repurchase program 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 stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have commented on COR shares. Wells Fargo & Company raised their target price on Cencora from $331.00 to $395.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 11th. Evercore reiterated an "outperform" rating and set a $350.00 price target on shares of Cencora in a research report on Thursday, August 6th. JPMorgan Chase & Co. increased their price target on shares of Cencora from $382.00 to $390.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Morgan Stanley boosted their price objective on shares of Cencora from $342.00 to $346.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Finally, Barclays cut their price target on shares of Cencora from $425.00 to $350.00 and set an "overweight" rating for the company in a report on Wednesday, June 10th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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 on Monday, June 22nd. The shares were purchased at an average cost 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 of the company's stock, valued at $1,177,932.57. The trade was a 14.44% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.38% of the company's stock.

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.

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