Amundi Has $630.86 Million Stock Position in Cencora, Inc. $COR

Key Points

• Amundi increased its Cencora stake by 43.5% in the second quarter, acquiring 676,066 additional shares. Its position totaled 2.23 million shares worth approximately $630.9 million, or 1.17% of the company.
• Cencora reported quarterly EPS of $4.48, exceeding estimates by $0.13, while revenue rose 5.1% year over year to $84.75 billion. The board also authorized a $2 billion share buyback, equivalent to up to 3.9% of outstanding shares.
• Analysts maintain a generally positive outlook, with 13 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $370.85 versus the reported share price of $330.52.

Amundi lifted its stake in Cencora, Inc. (NYSE:COR - Free Report) by 43.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,229,326 shares of the company's stock after purchasing an additional 676,066 shares during the period. Amundi owned 1.17% of Cencora worth $630,855,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new stake in Cencora in the fourth quarter worth $25,000. Elyxium Wealth LLC bought a new stake in shares of Cencora in the 4th quarter valued at $27,000. Elevation Wealth Partners LLC increased its position in shares of Cencora by 506.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company's stock valued at $27,000 after buying an additional 81 shares in the last quarter. Bell Investment Advisors Inc acquired a new stake in Cencora during the 2nd quarter worth $28,000. Finally, Caitlin John LLC acquired a new stake in Cencora during the 2nd quarter worth $28,000. Institutional investors own 97.52% of the company's stock.

Cencora Price Performance

Shares of NYSE COR opened at $330.52 on Monday. The stock has a market capitalization of $63.07 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 1.88 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. The business has a 50-day moving average of $312.33 and a 200-day moving average of $309.52. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.35 by $0.13. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The company had revenue of $84.75 billion for the quarter, compared to analysts' expectations of $84.31 billion. During the same quarter in the prior year, the business posted $4.00 EPS. The business's revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts predict that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora declared that its board has approved a stock 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 repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, August 14th. Cencora's payout ratio is currently 17.83%.

Insider Activity

In related news, Director Lauren M. Tyler acquired 550 shares of the business's stock in a transaction on Monday, June 22nd. The stock was purchased at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Elizabeth Campbell sold 11,300 shares of the business's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $324.12, for a total value of $3,662,556.00. Following the sale, the executive vice president owned 19,455 shares of the company's stock, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.38% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on COR shares. Bank of America boosted their target price on Cencora from $280.00 to $285.00 and gave the company a "neutral" rating in a research note on Wednesday, June 24th. Royal Bank Of Canada initiated coverage on Cencora in a report on Wednesday, August 19th. They set a "sector perform" rating and a $330.00 price objective on the stock. Morgan Stanley boosted their price objective on Cencora from $342.00 to $346.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Barclays lowered their target price on Cencora from $425.00 to $350.00 and set an "overweight" rating for the company in a research note on Wednesday, June 10th. Finally, Weiss Ratings raised shares of Cencora from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Cencora currently has an average rating of "Moderate Buy" and a consensus target price of $370.85.

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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