Quantitative Investment Management LLC Has $3.66 Million Holdings in Cencora, Inc. $COR

Quantitative Investment Management LLC lifted its position in shares of Cencora, Inc. (NYSE:COR) by 137.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,927 shares of the company’s stock after acquiring an additional 7,478 shares during the quarter. Quantitative Investment Management LLC’s holdings in Cencora were worth $3,658,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new position in Cencora in the second quarter valued at about $5,154,136,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of Cencora by 160.1% during the fourth 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 last quarter. Bank of America Corp DE bought a new stake in shares of Cencora during the second quarter worth about $1,056,625,000. Norges Bank acquired a new position in shares of Cencora in the fourth quarter valued at approximately $822,506,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Cencora in the second quarter valued at approximately $483,772,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In other news, Director Lauren M. Tyler bought 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 completion of the acquisition, the director directly owned 4,359 shares in the company, valued at approximately $1,177,932.57. This represents a 14.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the sale, the executive vice president directly owned 19,455 shares in the company, valued at $6,305,754.60. This trade represents a 36.74% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on COR shares. Morgan Stanley lifted their target price on shares of Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. UBS Group upped their price target on shares of Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Citigroup reiterated a “buy” rating on shares of Cencora in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $370.85.

Cencora Price Performance

Cencora stock opened at $322.12 on Monday. The stock’s 50 day moving average is $307.38 and its 200 day moving average is $310.51. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. The firm has a market cap of $61.47 billion, a P/E ratio of 23.93, a P/E/G ratio of 1.85 and a beta of 0.57. Cencora, Inc. has a one year low of $244.82 and a one year high of $377.54.

Cencora (NYSE:COR) last released its earnings results 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 business had revenue of $84.75 billion during the quarter, compared to the consensus estimate of $84.31 billion. During the same quarter in the prior year, the firm posted $4.00 EPS. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, research analysts expect that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 21st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Cencora Dividend Announcement

The company also recently disclosed 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 of this dividend is Friday, August 14th. Cencora’s dividend payout ratio is currently 17.83%.

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.