Canada Pension Plan Investment Board Takes Position in Cencora, Inc. $COR

Canada Pension Plan Investment Board acquired a new position in shares of Cencora, Inc. (NYSE:COR) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 150,037 shares of the company’s stock, valued at approximately $42,457,000.

Several other large investors also recently made changes to their positions in the stock. ExodusPoint Capital Management LP bought a new position in shares of Cencora during the fourth quarter worth about $16,487,000. Impact Partnership Wealth LLC bought a new stake in Cencora in the 1st quarter valued at approximately $1,170,000. Deutsche Bank AG bought a new stake in Cencora in the 2nd quarter valued at approximately $286,673,000. SEB Asset Management AB acquired a new position in Cencora during the 1st quarter worth approximately $134,139,000. Finally, PFA Pension Forsikringsaktieselskab acquired a new position in Cencora during the 4th quarter worth approximately $59,145,000. Institutional investors own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on COR shares. Morgan Stanley raised their price target on shares of Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Barclays reduced their target price on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a report on Wednesday, June 10th. Bank of America raised their target price on shares of Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday, June 24th. Robert W. Baird set a $370.00 price target on shares of Cencora in a research note on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Cencora currently has an average rating of “Moderate Buy” and a consensus target price of $370.85.

Cencora Trading Down 2.0%

Shares of NYSE:COR opened at $321.31 on Friday. Cencora, Inc. has a 52-week low of $244.82 and a 52-week 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 has a market capitalization of $61.32 billion, a P/E ratio of 23.87, a price-to-earnings-growth ratio of 1.88 and a beta of 0.57. The company has a 50-day simple moving average of $306.37 and a 200 day simple moving average of $310.80.

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

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be issued 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 dividend yield of 0.7%. Cencora’s payout ratio is presently 17.83%.

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

Insider Buying and Selling

In other Cencora news, Director Lauren M. Tyler purchased 550 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the purchase, the director 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 document filed with the SEC, which is accessible through this link. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the sale, the executive vice president directly owned 19,455 shares of the company’s stock, valued at $6,305,754.60. This represents a 36.74% decrease in their position. The SEC filing for this sale provides additional information. 0.38% of the stock is currently owned by insiders.

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.