Van Hulzen Asset Management LLC Buys Shares of 2,691 Cencora, Inc. $COR

Van Hulzen Asset Management LLC bought a new stake in shares of Cencora, Inc. (NYSE:COR) during the second quarter, HoldingsChannel.com reports. The fund bought 2,691 shares of the company’s stock, valued at approximately $762,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Accent Capital Management LLC lifted its stake in shares of Cencora by 36.1% during the 4th quarter. Accent Capital Management LLC now owns 113 shares of the company’s stock worth $38,000 after acquiring an additional 30 shares during the last quarter. MCF Advisors LLC grew its position in Cencora by 11.0% in the 4th quarter. MCF Advisors LLC now owns 303 shares of the company’s stock valued at $102,000 after acquiring an additional 30 shares during the last quarter. CYBER HORNET ETFs LLC increased its stake in Cencora by 6.8% in the fourth quarter. CYBER HORNET ETFs LLC now owns 485 shares of the company’s stock worth $164,000 after purchasing an additional 31 shares during the period. Steph & Co. increased its stake in Cencora by 23.5% in the first quarter. Steph & Co. now owns 168 shares of the company’s stock worth $53,000 after purchasing an additional 32 shares during the period. Finally, Beacon Pointe Advisors LLC lifted its position in shares of Cencora by 1.1% during the fourth quarter. Beacon Pointe Advisors LLC now owns 3,492 shares of the company’s stock worth $1,180,000 after purchasing an additional 37 shares during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Price Performance

COR opened at $323.56 on Tuesday. The company has a market capitalization of $61.75 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 1.83 and a beta of 0.57. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53. Cencora, Inc. has a 12-month low of $244.82 and a 12-month high of $377.54. The business’s fifty day simple moving average is $303.43 and its 200-day simple moving average is $311.25.

Cencora (NYSE:COR) last released 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 period in the previous year, the company posted $4.00 earnings per share. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research analysts anticipate 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. Stockholders of record on Friday, August 14th will be issued a $0.60 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. Cencora’s payout ratio is currently 17.83%.

Cencora declared that its Board of Directors has approved a share repurchase program on Thursday, May 21st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

COR has been the subject of a number of recent analyst reports. Evercore reissued an “outperform” rating and set a $350.00 target price on shares of Cencora in a research note on Thursday, August 6th. JPMorgan Chase & Co. lifted their price objective on shares of Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Weiss Ratings raised shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Royal Bank Of Canada initiated 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. Finally, Citigroup reaffirmed a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $370.85.

Insider Activity at Cencora

In other Cencora news, Director Lauren M. Tyler purchased 550 shares of the stock in a transaction dated Monday, June 22nd. The stock was purchased at an average price of $270.23 per share, with a total value of $148,626.50. Following the transaction, the director owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.38% of the company’s stock.

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.