Deutsche Bank AG Makes New Investment in Cencora, Inc. $COR

Deutsche Bank AG bought a new position in shares of Cencora, Inc. (NYSE:COR) during the second quarter, HoldingsChannel reports. The institutional investor bought 1,013,049 shares of the company’s stock, valued at approximately $286,673,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Kemnay Advisory Services Inc. purchased a new stake in shares of Cencora in the fourth quarter valued at approximately $25,000. Oakworth Capital Inc. purchased a new position in Cencora during the 4th quarter worth $26,000. Elyxium Wealth LLC purchased a new position in Cencora during the 4th quarter worth $27,000. Archer Investment Corp increased its holdings in Cencora by 134.3% during the 4th quarter. Archer Investment Corp now owns 82 shares of the company’s stock worth $28,000 after purchasing an additional 47 shares during the period. Finally, Motiv8 Investments LLC bought a new stake in Cencora during the 4th quarter valued at $29,000. Institutional investors own 97.52% of the company’s stock.

Insiders Place Their Bets

In other news, Director Lauren M. Tyler bought 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 purchase, the director directly owned 4,359 shares in the company, valued at approximately $1,177,932.57. The trade was a 14.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is currently owned by company insiders.

Cencora Stock Performance

Shares of Cencora stock opened at $316.38 on Wednesday. The company has a market capitalization of $60.37 billion, a PE ratio of 23.50, a P/E/G ratio of 1.80 and a beta of 0.57. The company has a 50-day simple moving average of $300.49 and a two-hundred day simple moving average of $312.40. 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 quick ratio of 0.58 and a current ratio of 0.93.

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

Cencora announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 21st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to buy up to 3.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be given 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 0.8%. Cencora’s dividend payout ratio is presently 17.83%.

Analyst Upgrades and Downgrades

COR has been the subject of several research reports. Morgan Stanley upped their target price on Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Evercore restated an “outperform” rating and set a $350.00 price target on shares of Cencora in a research note on Thursday, August 6th. Robert W. Baird set a $370.00 price objective on Cencora in a report on Thursday, August 6th. William Blair assumed coverage on shares of Cencora in a research note on Tuesday, April 28th. They issued a “market perform” rating for the company. Finally, UBS Group increased their target price on shares of Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $374.25.

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.