VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Shares in Cencora, Inc. $COR

Key Points

• Virginia Retirement Systems acquired 66,433 Cencora shares worth approximately $18.8 million during the second quarter. Institutional investors collectively own 97.52% of the company.
• Cencora reported quarterly EPS of $4.48, beating estimates of $4.35, while revenue rose 5.1% year over year to $84.75 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $370.85.
• The company pays a quarterly dividend of $0.60 and authorized a $2 billion share repurchase program, allowing buybacks of up to 3.9% of outstanding shares.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 66,433 shares of the company's stock, valued at approximately $18,799,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in COR. Kemnay Advisory Services Inc. bought a new stake in shares of Cencora in the fourth quarter worth about $25,000. Elyxium Wealth LLC acquired a new stake in shares of Cencora during the fourth quarter worth about $27,000. Elevation Wealth Partners LLC lifted its holdings in shares of Cencora by 506.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company's stock valued at $27,000 after purchasing an additional 81 shares in the last quarter. Bell Investment Advisors Inc bought a new position in shares of Cencora during the 2nd quarter valued at about $28,000. Finally, Caitlin John LLC acquired a new position in shares of Cencora in the 2nd quarter valued at approximately $28,000. 97.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on COR. Morgan Stanley increased their target price on Cencora from $342.00 to $346.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Robert W. Baird set a $370.00 price target on shares of Cencora in a research note on Thursday, August 6th. Royal Bank Of Canada started coverage on shares of Cencora in a report on Wednesday, August 19th. They issued a "sector perform" rating and a $330.00 price target for the company. Citigroup reissued a "buy" rating on shares of Cencora in a research report on Thursday, August 6th. Finally, Bank of America raised their price objective on shares of Cencora from $280.00 to $285.00 and gave the stock a "neutral" rating in a 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. According to MarketBeat, Cencora currently has a consensus rating of "Moderate Buy" and a consensus price target of $370.85.

Cencora Stock Down 0.1%

NYSE:COR opened at $330.52 on Tuesday. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. The company has a market cap of $63.07 billion, a PE ratio of 24.56, a PEG ratio of 1.88 and a beta of 0.57. Cencora, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54. The stock has a 50-day simple moving average of $313.30 and a 200 day simple moving average of $309.32.

Cencora (NYSE:COR - Get Free Report) last announced its earnings results 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 return on equity of 125.45% and a net margin of 0.79%.The business 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 earned $4.00 EPS. Cencora's revenue for the quarter was up 5.1% compared to the same quarter last year. On average, sell-side analysts expect that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were issued a $0.60 dividend. The ex-dividend date was 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 17.83%.

Cencora declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 21st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Elizabeth S. Campbell sold 11,300 shares of the firm's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the completion of the transaction, the executive vice president owned 19,455 shares of the company's stock, valued at approximately $6,305,754.60. This trade represents a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren M. Tyler purchased 550 shares of the stock in a transaction on Monday, June 22nd. The stock was acquired 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 in the company, valued at approximately $1,177,932.57. The trade was a 14.44% increase in their position. The SEC filing for this purchase provides additional information. 0.38% of the stock is 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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