Cencora, Inc. $COR Shares Sold by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB cut its Cencora stake by 32.4% in the second quarter, selling 105,735 shares and retaining 221,107 shares valued at approximately $62.6 million. Institutional investors collectively own 97.52% of the company.
• Cencora exceeded quarterly expectations, reporting $4.48 in earnings per share versus the $4.35 consensus and $84.75 billion in revenue. The company also authorized a $2 billion share-repurchase program and declared a quarterly dividend of $0.60 per share.
• Analyst sentiment remains favorable, with 13 Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $368.92, above the stock’s reported $324.17 price.

Handelsbanken Fonder AB reduced its position in Cencora, Inc. (NYSE:COR - Free Report) by 32.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 221,107 shares of the company's stock after selling 105,735 shares during the period. Handelsbanken Fonder AB owned approximately 0.11% of Cencora worth $62,569,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Kemnay Advisory Services Inc. bought a new stake in shares of Cencora in the 4th quarter worth about $25,000. Oakworth Capital Inc. acquired a new position in Cencora in the fourth quarter valued at approximately $26,000. Elyxium Wealth LLC bought a new position in shares of Cencora during the fourth quarter valued at approximately $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 valued at $27,000 after purchasing an additional 81 shares during the last quarter. Finally, Archer Investment Corp raised its position in shares of Cencora by 134.3% during the 4th quarter. Archer Investment Corp now owns 82 shares of the company's stock worth $28,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 97.52% of the company's stock.

Cencora Price Performance

NYSE COR opened at $324.17 on Tuesday. 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 company has a market cap of $63.07 billion, a PE ratio of 24.08, a PEG ratio of 1.84 and a beta of 0.57. The stock's 50-day moving average price is $295.07 and its two-hundred day moving average price is $313.94.

Cencora (NYSE:COR - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, topping the consensus estimate of $4.35 by $0.13. The business had revenue of $84.75 billion for the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the firm posted $4.00 earnings per share. On average, analysts predict that Cencora, Inc. will post 17.83 EPS for the current year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 14th. Cencora's dividend payout ratio (DPR) is 17.83%.

Cencora declared that its Board of Directors has authorized a share repurchase plan 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 plans are often a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

COR has been the topic of several recent research reports. Evercore reiterated an "outperform" rating and issued a $350.00 price objective on shares of Cencora in a research report on Thursday. Citigroup restated a "buy" rating on shares of Cencora in a report on Thursday. Robert W. Baird set a $370.00 target price on Cencora in a research note on Thursday. Wall Street Zen raised Cencora from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Morgan Stanley boosted their price target on shares of Cencora from $342.00 to $346.00 and gave the stock an "overweight" rating in a research report on Friday. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $368.92.

Insider Activity at Cencora

In other Cencora news, Director Lauren M. Tyler purchased 550 shares of the company's stock in a transaction that occurred 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 transaction, the director owned 4,359 shares of the company's stock, valued at approximately $1,177,932.57. This represents a 14.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.38% of the stock is currently owned by company insiders.

About Cencora

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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