773,956 Shares in Cencora, Inc. $COR Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC bought a new position in shares of Cencora, Inc. (NYSE:COR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 773,956 shares of the company’s stock, valued at approximately $218,870,000. Hsbc Holdings PLC owned 0.40% of Cencora at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in COR. United Bank boosted its holdings in Cencora by 4.5% in the 2nd quarter. United Bank now owns 7,032 shares of the company’s stock worth $2,109,000 after buying an additional 305 shares during the period. Nebula Research & Development LLC purchased a new position in shares of Cencora in the second quarter valued at about $595,000. Treasurer of the State of North Carolina lifted its position in shares of 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 acquiring an additional 6,244 shares in the last quarter. Diversify Advisory Services LLC boosted its stake in shares of Cencora by 94.1% in the second quarter. Diversify Advisory Services LLC now owns 2,585 shares of the company’s stock worth $747,000 after acquiring an additional 1,253 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of 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 worth $22,025,000 after acquiring an additional 15,154 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Weiss Ratings raised Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Royal Bank Of Canada assumed coverage on shares of Cencora in a report on Wednesday, August 19th. They set a “sector perform” rating and a $330.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Robert W. Baird set a $370.00 target price on shares of Cencora in a report on Thursday, August 6th. Finally, William Blair started coverage on shares of Cencora in a research report on Tuesday, April 28th. They set a “market perform” rating for the company. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $370.85.

Cencora Stock Performance

NYSE COR opened at $328.28 on Wednesday. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. Cencora, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54. The business has a 50 day simple moving average of $304.37 and a two-hundred day simple moving average of $311.24. The stock has a market capitalization of $62.65 billion, a PE ratio of 24.39, a P/E/G ratio of 1.86 and a beta of 0.57.

Cencora (NYSE:COR) last issued its quarterly earnings data 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 analysts’ expectations of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.00 EPS. On average, research analysts predict that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. Cencora’s dividend payout ratio is presently 17.83%.

Cencora announced that its Board of Directors has initiated a share repurchase plan on Thursday, May 21st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Cencora

In other Cencora news, EVP Elizabeth S. Campbell sold 11,300 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the transaction, the executive vice president owned 19,455 shares in the company, valued at $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 available through this link. Also, Director Lauren M. Tyler acquired 550 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was acquired at an average cost of $270.23 per share, with a total value 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. This represents a 14.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.38% of the stock is owned by company insiders.

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.