Strive Financial Group LLC Has $427,000 Stake in Cencora, Inc. $COR

Strive Financial Group LLC reduced its stake in shares of Cencora, Inc. (NYSE:COR) by 79.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,508 shares of the company’s stock after selling 5,675 shares during the period. Strive Financial Group LLC’s holdings in Cencora were worth $427,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Cencora during the 2nd quarter valued at about $5,154,136,000. T. Rowe Price Investment Management Inc. lifted its holdings 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 worth $2,262,956,000 after purchasing an additional 4,123,795 shares during the last quarter. Bank of America Corp DE acquired a new stake in Cencora in the 2nd quarter worth approximately $1,056,625,000. Norges Bank bought a new stake in Cencora during the fourth quarter worth approximately $822,506,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Cencora during the second quarter worth approximately $483,772,000. Institutional investors own 97.52% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on COR. Citigroup reissued a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Weiss Ratings raised shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Morgan Stanley raised their target price on shares of Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Bank of America lifted their target price on shares of Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Finally, Barclays cut their target price on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $370.85.

Cencora Stock Down 2.0%

Shares of COR stock opened at $330.52 on Friday. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54. The firm has a market cap of $63.07 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 1.91 and a beta of 0.57. The stock has a 50 day moving average of $312.33 and a 200-day moving average of $309.88. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53.

Cencora (NYSE:COR) last released its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.35 by $0.13. The business had revenue of $84.75 billion during the quarter, compared to analysts’ expectations of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $4.00 earnings per share. On average, equities analysts predict that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were given a dividend of $0.60 per share. 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 payout ratio is currently 17.83%.

Cencora declared that its board has initiated a stock buyback program on Thursday, May 21st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Lauren M. Tyler bought 550 shares of Cencora stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average cost of $270.23 per share, with a total value of $148,626.50. Following the completion of 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth 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 transaction of $3,662,556.00. Following the sale, the executive vice president owned 19,455 shares in the company, valued at $6,305,754.60. This represents a 36.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.38% of the company’s stock.

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.