Cencora, Inc. $COR Stock Holdings Lifted by Saudi Central Bank

Saudi Central Bank lifted its position in Cencora, Inc. (NYSE:COR) by 90.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,936 shares of the company’s stock after buying an additional 6,133 shares during the quarter. Saudi Central Bank’s holdings in Cencora were worth $3,661,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of COR. BlackRock Inc. bought a new position in shares of Cencora in the second quarter valued at approximately $5,154,136,000. State Street Corp raised its position in shares of Cencora by 1.3% during the fourth quarter. State Street Corp now owns 9,305,507 shares of the company’s stock valued at $3,142,935,000 after buying an additional 115,191 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of 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 acquiring an additional 4,123,795 shares during the period. Geode Capital Management LLC lifted its position in Cencora by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 5,459,476 shares of the company’s stock worth $1,843,268,000 after purchasing an additional 169,055 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Cencora by 6.5% during the 4th quarter. JPMorgan Chase & Co. now owns 4,982,557 shares of the company’s stock worth $1,682,859,000 after acquiring an additional 304,760 shares during the period. 97.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cencora

In other news, EVP Elizabeth Campbell sold 11,300 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 19,455 shares of the company’s stock, valued at $6,305,754.60. This represents a 36.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren M. Tyler purchased 550 shares of the stock in a transaction on Monday, June 22nd. The stock was bought 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. This trade represents a 14.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.38% of the stock is owned by insiders.

Cencora Stock Performance

COR opened at $330.52 on Monday. 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 business’s 50-day simple moving average is $312.33 and its 200 day simple moving average is $309.52. The firm has a market capitalization of $63.07 billion, a PE ratio of 24.56, a PEG ratio of 1.88 and a beta of 0.57.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, topping analysts’ consensus estimates of $4.35 by $0.13. The business had revenue of $84.75 billion for the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $4.00 earnings per share. As a group, sell-side analysts expect that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora announced that its Board of Directors has authorized a share buyback program on Thursday, May 21st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend 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 presently 17.83%.

Analysts Set New Price Targets

COR has been the topic of several recent analyst reports. Wall Street Zen raised Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Royal Bank Of Canada started coverage on shares of Cencora in a research note on Wednesday, August 19th. They set a “sector perform” rating and a $330.00 price target on the stock. Weiss Ratings upgraded Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. upped their target price on shares of Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, Robert W. Baird set a $370.00 price target on shares of Cencora in a research report on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.