B. Metzler seel. Sohn & Co. AG boosted its stake in Cencora, Inc. (NYSE:COR - Free Report) by 50.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,005 shares of the company's stock after acquiring an additional 11,412 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in Cencora were worth $9,623,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. United Bank grew its position in shares of Cencora by 4.5% during the second quarter. United Bank now owns 7,032 shares of the company's stock worth $2,109,000 after acquiring an additional 305 shares during the last quarter. Nebula Research & Development LLC purchased a new position in Cencora during the 2nd quarter worth $595,000. Treasurer of the State of North Carolina increased its stake in Cencora by 7.9% in the second quarter. Treasurer of the State of North Carolina now owns 85,534 shares of the company's stock valued at $25,647,000 after purchasing an additional 6,244 shares during the period. Diversify Advisory Services LLC increased its stake in Cencora by 94.1% in the second quarter. Diversify Advisory Services LLC now owns 2,585 shares of the company's stock valued at $747,000 after purchasing an additional 1,253 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Cencora by 26.0% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 73,452 shares of the company's stock valued at $22,025,000 after purchasing an additional 15,154 shares during the period. Institutional investors and hedge funds own 97.52% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on COR. Weiss Ratings upgraded shares of Cencora from a "hold (c+)" rating to a "buy (b-)" rating in a research note 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. Wells Fargo & Company upped their price objective on Cencora from $331.00 to $395.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. Morgan Stanley increased their price objective on Cencora from $342.00 to $346.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Finally, Royal Bank Of Canada initiated coverage on Cencora in a research note on Wednesday, August 19th. They issued a "sector perform" rating and a $330.00 target price on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Cencora currently has an average rating of "Moderate Buy" and an average target price of $370.85.
Read Our Latest Stock Analysis on COR
Cencora Stock Up 1.8%
COR opened at $336.98 on Thursday. 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, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54. The stock has a market capitalization of $64.30 billion, a P/E ratio of 25.04, a P/E/G ratio of 1.88 and a beta of 0.57. The business has a 50 day simple moving average of $310.47 and a 200-day simple moving average of $309.90.
Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share 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 analyst estimates of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.Cencora's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.00 earnings per share. On average, equities analysts anticipate that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.
Cencora Announces Dividend
The business also recently declared 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. The ex-dividend date of this dividend was 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 is 17.83%.
Cencora announced that its Board of Directors has approved a stock buyback program on Thursday, May 21st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.
Insiders Place Their Bets
In related news, Director Lauren M. Tyler purchased 550 shares of the business's stock in a transaction dated Monday, June 22nd. The stock was acquired at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the acquisition, the director directly owned 4,359 shares of the company's stock, valued at $1,177,932.57. This trade represents a 14.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the firm's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the sale, the executive vice president owned 19,455 shares of the company's stock, valued at $6,305,754.60. This trade represents a 36.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.38% of the company's stock.
Cencora Company Profile
(
Free Report)
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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