Korea Investment CORP Takes Position in Cencora, Inc. $COR

Key Points

• Korea Investment CORP acquired 29,142 shares of Cencora during the second quarter, valued at approximately $8.25 million. Institutional investors collectively own 97.52% of the company.
• Analysts maintain a generally positive outlook, with 13 Buy ratings and three Holds, producing a consensus “Moderate Buy” rating and an average price target of $370.85.
• Cencora exceeded quarterly earnings and revenue expectations, while also declaring a $0.60 quarterly dividend and authorizing a $2 billion share-repurchase program.

Korea Investment CORP acquired a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 29,142 shares of the company's stock, valued at approximately $8,247,000.

Other large investors also recently bought and sold shares of the company. Ieq Capital LLC bought a new stake in Cencora during the 2nd quarter valued at $285,000. Callan Family Office LLC bought a new position in shares of Cencora in the 2nd quarter worth $13,661,000. C M Bidwell & Associates Ltd. bought a new position in shares of Cencora in the 2nd quarter worth $212,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Cencora during the 2nd quarter worth $293,000. Finally, Paralel Advisors LLC bought a new stake in Cencora during the second quarter valued at about $2,081,000. Institutional investors own 97.52% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on COR shares. Royal Bank Of Canada started 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. Robert W. Baird set a $370.00 price target on shares of Cencora in a report on Thursday, August 6th. Morgan Stanley lifted their price objective on shares of Cencora from $342.00 to $346.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. William Blair began coverage on shares of Cencora in a research note on Tuesday, April 28th. They set a "market perform" rating for the company. Finally, Bank of America increased their target price on shares of Cencora from $280.00 to $285.00 and gave the company a "neutral" rating in a research report on Wednesday, June 24th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $370.85.

Insider Activity

In related news, Director Lauren M. Tyler bought 550 shares of the stock in a transaction dated Monday, June 22nd. The shares were purchased at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the purchase, the director directly owned 4,359 shares of the company's stock, valued at $1,177,932.57. This represents a 14.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.38% of the stock is currently owned by company insiders.

Cencora Trading Up 1.7%

Cencora stock opened at $323.56 on Tuesday. The stock has a 50-day moving average of $303.43 and a two-hundred day moving average of $311.25. 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, Inc. has a one year low of $244.82 and a one year high of $377.54. The stock has a market cap of $61.75 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 1.83 and a beta of 0.57.

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, beating 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 net margin of 0.79% and a return on equity of 125.45%. The business's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $4.00 earnings per share. On average, research analysts anticipate that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be paid a dividend of $0.60 per share. The ex-dividend date 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%.

Cencora declared that its board has authorized a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Cencora 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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