Van ECK Associates Corp Sells 27,987 Shares of Cencora, Inc. $COR

Van ECK Associates Corp lowered its position in shares of Cencora, Inc. (NYSE:COR) by 16.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 142,944 shares of the company’s stock after selling 27,987 shares during the period. Van ECK Associates Corp’s holdings in Cencora were worth $40,450,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Accent Capital Management LLC increased its stake in shares of Cencora by 36.1% in 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 in the last quarter. MCF Advisors LLC boosted its stake in Cencora by 11.0% during the fourth quarter. MCF Advisors LLC now owns 303 shares of the company’s stock worth $102,000 after acquiring an additional 30 shares in the last quarter. CYBER HORNET ETFs LLC boosted its stake in Cencora by 6.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 485 shares of the company’s stock worth $164,000 after acquiring an additional 31 shares in the last quarter. Steph & Co. grew its holdings 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 grew its holdings in Cencora by 1.1% in 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 period. Institutional investors own 97.52% of the company’s stock.

Cencora Stock Up 0.3%

COR opened at $322.12 on Friday. The stock has a market capitalization of $61.47 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 1.85 and a beta of 0.57. The firm has a 50 day moving average price of $307.38 and a 200-day moving average price of $310.88. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53.

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

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, August 14th. Cencora’s dividend payout ratio (DPR) is 17.83%.

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on COR. Evercore reiterated an “outperform” rating and set a $350.00 target price on shares of Cencora in a report on Thursday, August 6th. Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. raised their price objective on Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Bank of America lifted their price objective on Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. Finally, Weiss Ratings raised Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $370.85.

Insider Buying and Selling at Cencora

In other Cencora news, EVP Elizabeth S. Campbell sold 11,300 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $324.12, for a total value of $3,662,556.00. Following the transaction, the executive vice president owned 19,455 shares of the company’s stock, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren M. Tyler bought 550 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was purchased at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the transaction, the director directly owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. The trade was a 14.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 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.