Te Ahumairangi Investment Management Ltd Invests $2.14 Million in Cencora, Inc. $COR

Te Ahumairangi Investment Management Ltd bought a new position in shares of Cencora, Inc. (NYSE:COR) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,570 shares of the company’s stock, valued at approximately $2,142,000.

Other large investors have also recently bought and sold shares of the company. United Bank grew its position 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 purchasing an additional 305 shares during the last quarter. Nebula Research & Development LLC acquired a new position in shares of Cencora during the second quarter valued at about $595,000. Treasurer of the State of North Carolina raised its position in shares of Cencora by 7.9% during 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 last quarter. Diversify Advisory Services LLC lifted 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 valued at $747,000 after buying an additional 1,253 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Cencora by 26.0% during 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 buying an additional 15,154 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cencora news, Director Lauren M. Tyler acquired 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, with a total value of $148,626.50. Following the completion of the purchase, the director owned 4,359 shares in the company, valued at $1,177,932.57. The trade was a 14.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.38% of the stock is owned by corporate insiders.

Cencora Price Performance

COR opened at $317.89 on Monday. Cencora, Inc. has a one year low of $244.82 and a one year high of $377.54. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. The company’s 50 day simple moving average is $302.59 and its 200-day simple moving average is $311.52. The stock has a market capitalization of $60.66 billion, a P/E ratio of 23.62, a price-to-earnings-growth ratio of 1.83 and a beta of 0.57.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping 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 firm had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. During the same period last year, the company earned $4.00 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. Sell-side analysts anticipate that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora announced that its board has approved a share repurchase 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 typically a sign that the company’s management believes its stock is undervalued.

Cencora Announces Dividend

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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, August 14th. Cencora’s payout ratio is 17.83%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Weiss Ratings upgraded shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Morgan Stanley boosted their price target on Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Robert W. Baird set a $370.00 price objective on Cencora in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $370.85.

Cencora Company 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.