Laraway Financial Advisors Inc Buys Shares of 2,900 Cencora, Inc. $COR

Laraway Financial Advisors Inc bought a new position in Cencora, Inc. (NYSE:COR) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 2,900 shares of the company’s stock, valued at approximately $821,000.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Cencora by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 23,617,117 shares of the company’s stock valued at $7,976,681,000 after purchasing an additional 221,570 shares during the period. State Street Corp increased its position in Cencora by 1.3% during the fourth quarter. State Street Corp now owns 9,305,507 shares of the company’s stock worth $3,142,935,000 after purchasing an additional 115,191 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in 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 period. Geode Capital Management LLC raised its stake in Cencora by 3.2% during the fourth 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. Finally, JPMorgan Chase & Co. grew its stake in shares of Cencora by 6.5% in the 4th quarter. JPMorgan Chase & Co. now owns 4,982,557 shares of the company’s stock valued at $1,682,859,000 after buying an additional 304,760 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Transactions at Cencora

In other news, Director Lauren M. Tyler bought 550 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were bought at an average price of $270.23 per share, with a total value of $148,626.50. Following the completion of the transaction, the director directly owned 4,359 shares in the company, valued at $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is currently owned by insiders.

Cencora Trading Up 1.2%

Shares of COR stock opened at $313.86 on Friday. Cencora, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54. The firm has a market cap of $59.89 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 1.78 and a beta of 0.57. The company has a 50-day moving average of $298.98 and a two-hundred day moving average of $313.24. 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 (NYSE:COR) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $84.31 billion. During the same period in the previous year, the firm earned $4.00 EPS. The business’s revenue was up 5.1% on a year-over-year basis. On average, analysts predict that Cencora, Inc. will post 17.84 EPS for the current year.

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

Cencora Dividend Announcement

The business 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 $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, August 14th. Cencora’s dividend payout ratio (DPR) is 17.83%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on COR shares. Wells Fargo & Company raised their price target on shares of Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a report on Tuesday. Weiss Ratings upgraded Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Evercore reiterated an “outperform” rating and issued a $350.00 price objective on shares of Cencora in a research report on Thursday, August 6th. Barclays lowered their price objective on Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. Finally, Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $374.25.

About Cencora

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.