Shepherd Financial Partners LLC Invests $1.58 Million in Cencora, Inc. $COR

Shepherd Financial Partners LLC bought a new position in Cencora, Inc. (NYSE:COR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,570 shares of the company’s stock, valued at approximately $1,576,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Cencora during the second quarter valued at $5,154,136,000. T. Rowe Price Investment Management Inc. increased its stake in Cencora by 160.1% in the 4th 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 in the last quarter. Norges Bank acquired a new stake in Cencora during the 4th quarter worth about $822,506,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Cencora during the 2nd quarter worth about $483,772,000. Finally, Marshall Wace LLP lifted its stake in Cencora by 518.9% during the third quarter. Marshall Wace LLP now owns 1,995,118 shares of the company’s stock valued at $623,534,000 after buying an additional 1,672,762 shares in the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Price Performance

Shares of COR opened at $316.78 on Thursday. The business’s 50-day moving average is $301.20 and its 200-day moving average is $312.16. 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 $60.45 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 1.81 and a beta of 0.57. Cencora, Inc. has a fifty-two week low of $244.82 and a fifty-two week high of $377.54.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 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 business had revenue of $84.75 billion during the quarter, compared to analysts’ expectations of $84.31 billion. During the same period last year, the company posted $4.00 earnings per share. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities research analysts expect that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora declared that its Board of Directors has approved a share repurchase 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 usually a sign that the company’s board of directors believes its stock is undervalued.

Cencora Dividend Announcement

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

Insider Activity at Cencora

In related news, Director Lauren M. Tyler purchased 550 shares of the stock in a transaction dated Monday, June 22nd. The shares were acquired at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the acquisition, the director directly owned 4,359 shares in the company, valued at approximately $1,177,932.57. The trade was a 14.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

COR has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Cencora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. 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. Barclays decreased their price objective on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Finally, Citigroup reissued a “buy” rating on shares of Cencora in a research note on Thursday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Cencora presently has an average rating of “Moderate Buy” and an average price target of $370.85.

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.