Kendall Capital Management Invests $4.89 Million in Cencora, Inc. $COR

Kendall Capital Management purchased a new stake in shares of Cencora, Inc. (NYSE:COR) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 17,265 shares of the company’s stock, valued at approximately $4,886,000.

A number of other large investors have also recently added to or reduced their stakes in COR. ExodusPoint Capital Management LP acquired a new stake in shares of Cencora during the 4th quarter worth about $16,487,000. Impact Partnership Wealth LLC acquired a new position in Cencora in the first quarter valued at about $1,170,000. SEB Asset Management AB purchased a new position in Cencora during the first quarter worth about $134,139,000. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Cencora during the fourth quarter valued at about $59,145,000. Finally, Wedge Capital Management L L P NC increased its position in shares of Cencora by 31.0% during the second quarter. Wedge Capital Management L L P NC now owns 105,614 shares of the company’s stock valued at $29,887,000 after acquiring an additional 24,968 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Up 1.0%

Shares of COR opened at $317.89 on Friday. The stock has a market capitalization of $60.66 billion, a PE ratio of 23.62, a P/E/G ratio of 1.83 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 company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. The company’s 50-day simple moving average is $302.59 and its 200-day simple moving average is $311.89.

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 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 firm had revenue of $84.75 billion during the quarter, compared to analysts’ expectations of $84.31 billion. During the same quarter in the previous year, the business posted $4.00 earnings per share. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Analysts forecast that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be paid a $0.60 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. Cencora’s payout ratio is 17.83%.

Cencora announced that its board has initiated a share repurchase plan on Thursday, May 21st that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently commented on COR. Wells Fargo & Company upped their price objective on shares of Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Robert W. Baird set a $370.00 target price on shares of Cencora in a report on Thursday, August 6th. Wall Street Zen raised Cencora from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Barclays decreased their price target on Cencora from $425.00 to $350.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 10th. Finally, Citigroup restated a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $370.85.

Insider Buying and Selling at Cencora

In related news, Director Lauren M. Tyler acquired 550 shares of the business’s 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 transaction, the director owned 4,359 shares of the company’s stock, valued at $1,177,932.57. The trade was a 14.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

About Cencora

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.