TFR Capital LLC. Takes Position in Cencora, Inc. $COR

Key Points

• TFR Capital initiated a position in Cencora during the second quarter, purchasing 7,966 shares valued at approximately $2.25 million. Institutional investors collectively own 97.52% of the company.
• Cencora exceeded quarterly expectations, reporting adjusted earnings of $4.48 per share and revenue of $84.75 billion, with revenue up 5.1% year over year. The company also authorized a $2 billion share-repurchase program.
• Analysts maintain a positive outlook, with 13 Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $374.25, compared with a recent share price of $313.86.

TFR Capital LLC. bought a new position in Cencora, Inc. (NYSE:COR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 7,966 shares of the company's stock, valued at approximately $2,254,000.

Other large investors have also added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new position in shares of Cencora during the 4th quarter valued at about $25,000. Oakworth Capital Inc. bought a new stake in shares of Cencora in the 4th quarter worth approximately $26,000. Elyxium Wealth LLC purchased a new stake in shares of Cencora in the 4th quarter valued at $27,000. Elevation Wealth Partners LLC raised its position in Cencora by 506.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company's stock worth $27,000 after purchasing an additional 81 shares during the period. Finally, Archer Investment Corp boosted its position in Cencora by 134.3% during the fourth quarter. Archer Investment Corp now owns 82 shares of the company's stock valued at $28,000 after buying an additional 47 shares during the period. Hedge funds and other institutional investors own 97.52% of the company's stock.

Insider Buying and Selling at Cencora

In related news, Director Lauren M. Tyler purchased 550 shares of the stock in a transaction dated Monday, June 22nd. The stock was purchased at an average price 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 $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is owned by insiders.

Cencora Price Performance

COR stock opened at $313.86 on Friday. The firm has a 50 day moving average price of $298.98 and a 200-day moving average price of $313.24. Cencora, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54. The firm has a market capitalization of $59.89 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 1.80 and a beta of 0.57. 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 (NYSE:COR - Get Free Report) last posted its quarterly 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. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The company had revenue of $84.75 billion for the quarter, compared to the consensus estimate of $84.31 billion. During the same quarter in the prior year, the business posted $4.00 EPS. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. Equities research analysts forecast that Cencora, Inc. will post 17.84 EPS for the current fiscal year.

Cencora declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 21st that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, August 14th. Cencora's dividend payout ratio is currently 17.83%.

Wall Street Analyst Weigh In

COR has been the topic of a number of analyst reports. UBS Group lifted their price target on Cencora from $412.00 to $430.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Wells Fargo & Company boosted their price target on Cencora from $331.00 to $395.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. Evercore reissued an "outperform" rating and set a $350.00 target price on shares of Cencora in a research note on Thursday, August 6th. William Blair assumed coverage on shares of Cencora in a report on Tuesday, April 28th. They issued a "market perform" rating for the company. Finally, Robert W. Baird set a $370.00 price objective on shares of Cencora in a report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $374.25.

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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