Caisse de depot et placement du Quebec Acquires New Shares in Cencora, Inc. $COR

Caisse de depot et placement du Quebec bought a new stake in shares of Cencora, Inc. (NYSE:COR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 914,234 shares of the company’s stock, valued at approximately $258,710,000. Caisse de depot et placement du Quebec owned 0.48% of Cencora as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Kemnay Advisory Services Inc. bought a new stake in shares of Cencora during the 4th quarter valued at $25,000. Oakworth Capital Inc. bought a new position in shares of Cencora during the fourth quarter valued at approximately $26,000. Elyxium Wealth LLC purchased a new position in Cencora in the 4th quarter worth about $27,000. Elevation Wealth Partners LLC boosted its holdings in shares of Cencora by 506.2% in the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock valued at $27,000 after purchasing an additional 81 shares during the period. Finally, Archer Investment Corp increased its position in Cencora by 134.3% during the 4th quarter. Archer Investment Corp now owns 82 shares of the company’s stock valued at $28,000 after purchasing an additional 47 shares during the period. 97.52% of the stock is currently owned by institutional investors.

Cencora Trading Down 0.0%

Shares of NYSE:COR opened at $327.94 on Thursday. 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 firm has a market capitalization of $62.58 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 1.88 and a beta of 0.57. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. The business’s 50 day moving average price is $305.39 and its 200-day moving average price is $311.07.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 EPS 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 period in the prior year, the company earned $4.00 EPS. The firm’s revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts forecast that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders 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 payout ratio is 17.83%.

Cencora announced that its board has initiated a stock buyback program on Thursday, May 21st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to repurchase 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 shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Citigroup restated a “buy” rating on shares of Cencora in a report on Thursday, August 6th. JPMorgan Chase & Co. increased 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. Wells Fargo & Company raised their price objective on Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Bank of America increased their price target on Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Finally, Barclays decreased their price objective on Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a report on Wednesday, June 10th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $370.85.

Insider Activity at Cencora

In other Cencora news, EVP Elizabeth S. 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 value 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. The trade was 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 the SEC website. Also, Director Lauren M. Tyler purchased 550 shares of the stock in a transaction dated Monday, June 22nd. The shares were acquired at an average price of $270.23 per share, with a total value 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 position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.38% of the company’s stock.

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.