Peachtree Investment Partners LLC Buys New Position in Cencora, Inc. $COR

Key Points

• Peachtree Investment Partners bought 7,789 shares of Cencora worth approximately $2.2 million, while institutional investors and hedge funds collectively own 97.52% of the stock.
• Cencora exceeded quarterly earnings and revenue expectations, reporting $4.48 EPS and $84.75 billion in revenue; revenue increased 5.1% year over year.
• The company authorized a $2 billion share repurchase program and declared a quarterly dividend of $0.60 per share. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $374.25.

Peachtree Investment Partners LLC bought a new stake in Cencora, Inc. (NYSE:COR - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 7,789 shares of the company's stock, valued at approximately $2,204,000. Cencora makes up about 0.7% of Peachtree Investment Partners LLC's investment portfolio, making the stock its 26th largest position.

Other hedge funds also recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new position in shares of Cencora during the fourth quarter valued at approximately $25,000. Oakworth Capital Inc. purchased a new stake in Cencora in the 4th quarter worth approximately $26,000. Elyxium Wealth LLC purchased a new stake in Cencora in the 4th quarter worth approximately $27,000. Archer Investment Corp raised its holdings in Cencora by 134.3% in the 4th quarter. Archer Investment Corp now owns 82 shares of the company's stock valued at $28,000 after acquiring an additional 47 shares during the last quarter. Finally, Motiv8 Investments LLC acquired a new position in Cencora in the 4th quarter valued at $29,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Stock Up 0.0%

NYSE COR opened at $313.86 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. 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 price of $298.98 and a two-hundred day moving average price of $312.94. The stock has a market cap of $59.89 billion, a PE ratio of 23.32, a P/E/G ratio of 1.80 and a beta of 0.57.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.35 by $0.13. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The company had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. During the same quarter last year, the firm posted $4.00 earnings per share. The business's quarterly revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts predict that Cencora, Inc. will post 17.84 EPS for the current fiscal year.

Cencora declared that its board has approved a stock buyback program 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 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. Shareholders of record on Friday, August 14th will be issued a $0.60 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.8%. Cencora's payout ratio is currently 17.83%.

Insider Buying and Selling

In other news, Director Lauren M. Tyler acquired 550 shares of the firm's stock in a transaction on Monday, June 22nd. The stock was bought at an average cost of $270.23 per share, with a total value of $148,626.50. Following the transaction, the director directly owned 4,359 shares in the company, valued at approximately $1,177,932.57. This represents a 14.44% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.38% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wall Street Zen raised Cencora from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Evercore reiterated an "outperform" rating and issued a $350.00 price target on shares of Cencora in a report on Thursday, August 6th. JPMorgan Chase & Co. boosted their price objective on shares of Cencora from $382.00 to $390.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Robert W. Baird set a $370.00 price objective on Cencora in a report on Thursday, August 6th. Finally, Bank of America increased their target price on Cencora from $280.00 to $285.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 24th. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $374.25.

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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