HBK Sorce Advisory LLC Makes New $3.77 Million Investment in Cencora, Inc. $COR

HBK Sorce Advisory LLC acquired a new position in shares of Cencora, Inc. (NYSE:COR) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 11,871 shares of the company’s stock, valued at approximately $3,766,000.

A number of other large investors have also made changes to their positions in the stock. T. Rowe Price Investment Management Inc. grew its position 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 buying an additional 4,123,795 shares in the last quarter. Norges Bank bought a new stake in shares of Cencora in the 4th quarter worth approximately $822,506,000. Marshall Wace LLP grew its holdings in shares of Cencora by 518.9% during the 3rd quarter. Marshall Wace LLP now owns 1,995,118 shares of the company’s stock worth $623,534,000 after purchasing an additional 1,672,762 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Cencora by 528.9% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,475,859 shares of the company’s stock valued at $461,250,000 after purchasing an additional 1,241,186 shares during the period. Finally, Viking Global Investors LP raised its stake in shares of Cencora by 95.0% in the second quarter. Viking Global Investors LP now owns 2,081,732 shares of the company’s stock valued at $624,207,000 after purchasing an additional 1,013,913 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

COR has been the subject of several research reports. Evercore reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Cencora in a research report on Thursday, August 6th. UBS Group boosted their price target on shares of Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wells Fargo & Company increased their price objective on shares of Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Robert W. Baird set a $370.00 price objective on shares of Cencora in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded 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 two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $374.25.

Cencora Price Performance

Cencora stock opened at $313.86 on Monday. 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 company has a market capitalization of $59.89 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 1.80 and a beta of 0.57. Cencora, Inc. has a one year low of $244.82 and a one year high of $377.54. The business has a 50 day simple moving average of $298.98 and a 200 day simple moving average of $312.94.

Cencora (NYSE:COR) last announced its quarterly 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. The firm had revenue of $84.75 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the business posted $4.00 earnings per share. On average, sell-side analysts forecast that Cencora, Inc. will post 17.84 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. Cencora’s dividend payout ratio is presently 17.83%.

Cencora announced that its Board of Directors has authorized a stock buyback program on Thursday, May 21st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 3.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity

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 stock was acquired at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the transaction, the director directly owned 4,359 shares of the company’s stock, valued at $1,177,932.57. This trade represents a 14.44% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.38% of the stock is owned by company 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.