Quantitative Investment Management LLC raised its stake in Cencora, Inc. (NYSE:COR - Free Report) by 137.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,927 shares of the company's stock after acquiring an additional 7,478 shares during the quarter. Quantitative Investment Management LLC's holdings in Cencora were worth $3,658,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of COR. BlackRock Inc. bought a new position in shares of Cencora during the second quarter worth approximately $5,154,136,000. T. Rowe Price Investment Management Inc. boosted its stake in Cencora by 160.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company's stock valued at $2,262,956,000 after purchasing an additional 4,123,795 shares during the period. Bank of America Corp DE bought a new stake in Cencora in the 2nd quarter valued at $1,056,625,000. Norges Bank acquired a new position in Cencora in the 4th quarter valued at $822,506,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Cencora in the 2nd quarter valued at $483,772,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, EVP Elizabeth S. Campbell sold 11,300 shares of Cencora stock in a transaction on Monday, August 24th. The stock was sold at an average price of $324.12, for a total value of $3,662,556.00. Following the transaction, the executive vice president owned 19,455 shares in the company, valued at approximately $6,305,754.60. This trade represents a 36.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lauren M. Tyler purchased 550 shares of the stock in a transaction dated Monday, June 22nd. The shares were acquired at an average cost of $270.23 per share, with a total value of $148,626.50. Following the acquisition, the director directly owned 4,359 shares in the company, valued at $1,177,932.57. This represents a 14.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.38% of the company's stock.
Cencora Price Performance
Shares of NYSE:COR opened at $322.12 on Monday. The firm has a 50 day moving average of $307.38 and a 200-day moving average of $310.51. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53. The stock has a market capitalization of $61.47 billion, a PE ratio of 23.93, a PEG ratio of 1.85 and a beta of 0.57.
Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) 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 analyst estimates of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $4.00 EPS. On average, equities research analysts predict that Cencora, Inc. will post 17.87 EPS for the current fiscal year.
Cencora declared that its board has approved a share repurchase program on Thursday, May 21st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.
Cencora Dividend Announcement
The firm also recently announced 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. This represents a $2.40 dividend on an annualized basis 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 currently 17.83%.
Wall Street Analyst Weigh In
COR has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on Cencora from $382.00 to $390.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Evercore reaffirmed an "outperform" rating and set a $350.00 price target on shares of Cencora in a research report on Thursday, August 6th. Bank of America lifted their price objective on shares of Cencora from $280.00 to $285.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 24th. Citigroup restated a "buy" rating on shares of Cencora in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada began coverage on shares of Cencora in a report on Wednesday, August 19th. They set a "sector perform" rating and a $330.00 target price on the stock. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $370.85.
Check Out Our Latest Research Report on COR
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.
Further Reading
Want to see what other hedge funds are holding COR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cencora, Inc. (NYSE:COR - Free Report).
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