Peachtree Investment Partners LLC Takes $2.20 Million Position in Cencora, Inc. $COR

Peachtree Investment Partners LLC bought a new stake in shares of Cencora, Inc. (NYSE:COR) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 7,789 shares of the company’s stock, valued at approximately $2,204,000. Cencora makes up about 0.7% of Peachtree Investment Partners LLC’s portfolio, making the stock its 26th largest holding.

Other hedge funds have also bought and sold shares of the company. Accent Capital Management LLC grew its position 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 raised its position in shares of Cencora by 11.0% during the 4th quarter. MCF Advisors LLC now owns 303 shares of the company’s stock valued at $102,000 after acquiring an additional 30 shares in the last quarter. CYBER HORNET ETFs LLC lifted 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 purchasing an additional 31 shares during the last quarter. Steph & Co. lifted its stake in Cencora by 23.5% during 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 last quarter. Finally, Beacon Pointe Advisors LLC boosted 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. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 purchased at an average price of $270.23 per share, with a total value 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 trade represents a 14.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by insiders.

Cencora Stock Performance

Shares of COR opened at $313.86 on Monday. The firm has a 50-day moving average price of $298.98 and a 200 day moving average price of $312.94. The firm has a market capitalization of $59.89 billion, a PE ratio of 23.32, a P/E/G ratio of 1.80 and a beta of 0.57. 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, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping analysts’ consensus estimates of $4.35 by $0.13. The company had revenue of $84.75 billion for the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. Cencora’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.00 EPS. On average, sell-side analysts anticipate that Cencora, Inc. will post 17.84 earnings per share for the current fiscal year.

Cencora declared that its Board of Directors has initiated a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, August 14th. Cencora’s dividend payout ratio (DPR) is currently 17.83%.

Analysts Set New Price Targets

COR has been the subject of several recent research reports. UBS Group boosted their target price on shares of Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Barclays decreased their price target 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. Robert W. Baird set a $370.00 target price on shares of Cencora in a report on Thursday, August 6th. JPMorgan Chase & Co. lifted their target price on Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, William Blair assumed coverage on Cencora in a report on Tuesday, April 28th. They set a “market perform” rating for the company. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $374.25.

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.