62,123 Shares in Cencora, Inc. $COR Bought by Cibc World Market Inc.

Cibc World Market Inc. acquired a new stake in shares of Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 62,123 shares of the company’s stock, valued at approximately $17,580,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Cencora in the 2nd quarter valued at about $5,154,136,000. T. Rowe Price Investment Management Inc. boosted its position in shares of Cencora by 160.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock valued at $2,262,956,000 after acquiring an additional 4,123,795 shares during the last quarter. Norges Bank purchased a new position in shares of Cencora during the fourth quarter worth about $822,506,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Cencora during the second quarter worth about $483,772,000. Finally, Marshall Wace LLP increased its position in shares of Cencora by 518.9% in the third quarter. Marshall Wace LLP now owns 1,995,118 shares of the company’s stock worth $623,534,000 after purchasing an additional 1,672,762 shares during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Trading Up 1.7%

Shares of COR stock opened at $323.56 on Tuesday. The business has a 50-day moving average of $303.43 and a 200 day moving average of $311.25. 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 stock has a market capitalization of $61.75 billion, a PE ratio of 24.04, a P/E/G 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 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $84.31 billion. During the same quarter in the previous year, the company posted $4.00 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Cencora, Inc. will post 17.87 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, August 14th. Cencora’s dividend payout ratio is currently 17.83%.

Cencora announced that its board 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 purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

COR has been the topic of a number of recent analyst reports. Royal Bank Of Canada started coverage on shares of Cencora in a research note on Wednesday, August 19th. They issued a “sector perform” rating and a $330.00 target price on the stock. UBS Group boosted their price target on shares of Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Bank of America increased their price target on shares of Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Robert W. Baird set a $370.00 price objective on shares of Cencora in a research report on Thursday, August 6th. Finally, Weiss Ratings raised shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Cencora has a consensus rating of “Moderate Buy” and an average target price of $370.85.

Insiders Place Their Bets

In other news, Director Lauren M. Tyler purchased 550 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was acquired at an average price of $270.23 per share, with a total value of $148,626.50. Following the transaction, the director directly owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. This represents a 14.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.38% of the stock is owned by insiders.

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.