Quantbot Technologies LP Takes Position in Cencora, Inc. $COR

Quantbot Technologies LP purchased a new stake in Cencora, Inc. (NYSE:COR) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 13,985 shares of the company’s stock, valued at approximately $3,957,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Cencora by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 23,617,117 shares of the company’s stock worth $7,976,681,000 after acquiring an additional 221,570 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Cencora in the 2nd quarter valued at approximately $5,154,136,000. State Street Corp lifted its stake in shares of Cencora by 1.3% in the 4th quarter. State Street Corp now owns 9,305,507 shares of the company’s stock valued at $3,142,935,000 after purchasing an additional 115,191 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Cencora by 160.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock worth $2,262,956,000 after purchasing an additional 4,123,795 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Cencora by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 5,459,476 shares of the company’s stock worth $1,843,268,000 after purchasing an additional 169,055 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Trading Down 0.0%

Shares of COR opened at $317.89 on Monday. The firm has a market capitalization of $60.66 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.83 and a beta of 0.57. 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 company has a 50-day moving average of $302.59 and a 200 day moving average of $311.52.

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

Cencora announced that its board has authorized a share buyback program on Thursday, May 21st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Cencora Announces Dividend

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 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 payout ratio is 17.83%.

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 acquired at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the acquisition, the director owned 4,359 shares of the company’s stock, valued at $1,177,932.57. This 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. 0.38% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on COR. Evercore reissued an “outperform” rating and set a $350.00 target price on shares of Cencora in a research report on Thursday, August 6th. Bank of America lifted their price objective on shares of Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. JPMorgan Chase & Co. increased their target price on shares of Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Citigroup reaffirmed a “buy” rating on shares of Cencora in a research note on Thursday, August 6th. Finally, Weiss Ratings raised shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating 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 stock. According to data from MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and a consensus price target of $370.85.

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.