Beacon Pointe Advisors LLC Invests $1.42 Million in Cencora, Inc. $COR

Key Points

• Beacon Pointe Advisors acquired 5,014 Cencora shares worth approximately $1.42 million in the second quarter. Institutional investors collectively own 97.52% of the company’s stock.
• Cencora exceeded quarterly expectations, reporting $4.48 in EPS and $84.75 billion in revenue, with revenue rising 5.1% year over year.
• Analysts maintain a positive outlook, with a consensus “Moderate Buy” rating and a $370.85 price target. Cencora also authorized a $2 billion share-repurchase program and declared a $0.60 quarterly dividend.

Beacon Pointe Advisors LLC acquired a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,014 shares of the company's stock, valued at approximately $1,419,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Cencora in the second quarter worth $17,566,000. Empowered Funds LLC purchased a new stake in shares of Cencora during the 2nd quarter valued at $7,055,000. United Capital Financial Advisors LLC acquired a new stake in shares of Cencora in the 2nd quarter worth $2,373,000. Caitlin John LLC acquired a new stake in shares of Cencora in the 2nd quarter worth $28,000. Finally, Equitable Holdings Inc. purchased a new position in Cencora during the 2nd quarter worth $231,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Stock Performance

NYSE COR opened at $322.12 on Monday. The stock has a 50-day simple moving average of $307.38 and a two-hundred day simple moving average of $310.51. The firm has a market capitalization of $61.47 billion, a P/E ratio of 23.93, a PEG ratio of 1.85 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 company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93.

Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping analysts' consensus estimates of $4.35 by $0.13. The firm had revenue of $84.75 billion for the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The company's revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.00 earnings per share. On average, equities analysts forecast that Cencora, Inc. will post 17.87 earnings per share for the current year.

Cencora declared that its Board of Directors has authorized a share repurchase program on Thursday, May 21st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Cencora Dividend Announcement

The company 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 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 dividend yield of 0.7%. Cencora's dividend payout ratio (DPR) is presently 17.83%.

Insider Buying and Selling

In other news, Director Lauren M. Tyler bought 550 shares of the firm's stock in a transaction that occurred 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 purchase, the director directly owned 4,359 shares in the company, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the sale, 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 SEC filing for this sale provides additional information. 0.38% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Citigroup reiterated a "buy" rating on shares of Cencora in a research note on Thursday, August 6th. Weiss Ratings upgraded Cencora from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. 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 report on Tuesday, August 11th. UBS Group increased 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, JPMorgan Chase & Co. lifted their target price on shares of Cencora from $382.00 to $390.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Cencora has a consensus rating of "Moderate Buy" and a consensus price target 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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