United Bank Purchases New Stake in Cencora, Inc. $COR

United Bank acquired a new position in Cencora, Inc. (NYSE:COR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,048 shares of the company’s stock, valued at approximately $2,277,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nebula Research & Development LLC acquired a new stake in shares of Cencora during the 2nd quarter worth approximately $595,000. Treasurer of the State of North Carolina lifted its holdings in Cencora by 7.9% in the second quarter. Treasurer of the State of North Carolina now owns 85,534 shares of the company’s stock valued at $25,647,000 after buying an additional 6,244 shares during the period. Diversify Advisory Services LLC lifted its holdings in Cencora by 94.1% in the second quarter. Diversify Advisory Services LLC now owns 2,585 shares of the company’s stock valued at $747,000 after buying an additional 1,253 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Cencora by 26.0% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 73,452 shares of the company’s stock valued at $22,025,000 after acquiring an additional 15,154 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Cencora by 12.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,965 shares of the company’s stock valued at $17,381,000 after acquiring an additional 6,377 shares during the last quarter. 97.52% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cencora news, Director Lauren M. Tyler bought 550 shares of Cencora stock in a transaction on Monday, June 22nd. The shares were purchased at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the acquisition, the director 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 acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.38% of the company’s stock.

Cencora Stock Up 0.2%

Shares of NYSE COR opened at $316.78 on Thursday. Cencora, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54. 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 stock has a market cap of $60.45 billion, a P/E ratio of 23.53, a P/E/G ratio of 1.81 and a beta of 0.57. The firm has a 50 day moving average price of $301.20 and a 200 day moving average price of $312.16.

Cencora (NYSE:COR) last posted its 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. The company 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 revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $4.00 earnings per share. Analysts expect that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora declared that its board has authorized a stock buyback plan on Thursday, May 21st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 14th. Cencora’s dividend payout ratio (DPR) is presently 17.83%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Citigroup reissued a “buy” rating on shares of Cencora in a research note on Thursday, August 6th. Royal Bank Of Canada began coverage on Cencora in a research report on Wednesday. They issued a “sector perform” rating and a $330.00 price target on the stock. Wells Fargo & Company lifted their price objective on Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Finally, Bank of America upped their price objective on Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, June 24th. Thirteen equities 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $370.85.

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.