Silvant Capital Management LLC Acquires Shares of 42,144 Cencora, Inc. $COR

Silvant Capital Management LLC bought a new stake in shares of Cencora, Inc. (NYSE:COR) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 42,144 shares of the company’s stock, valued at approximately $11,926,000.

A number of other hedge funds have also recently modified their holdings of COR. United Bank grew its stake in shares of Cencora by 4.5% in the 2nd quarter. United Bank now owns 7,032 shares of the company’s stock worth $2,109,000 after buying an additional 305 shares during the last quarter. Nebula Research & Development LLC purchased a new stake in shares of Cencora during the 2nd quarter valued at about $595,000. Treasurer of the State of North Carolina raised its holdings in shares of Cencora by 7.9% during the second quarter. Treasurer of the State of North Carolina now owns 85,534 shares of the company’s stock valued at $25,647,000 after purchasing an additional 6,244 shares during the last quarter. Diversify Advisory Services LLC lifted its position in Cencora by 94.1% during the second quarter. Diversify Advisory Services LLC now owns 2,585 shares of the company’s stock valued at $747,000 after purchasing an additional 1,253 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Cencora by 26.0% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 73,452 shares of the company’s stock worth $22,025,000 after buying an additional 15,154 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

Cencora Price Performance

Shares of COR stock opened at $315.15 on Friday. The firm has a market capitalization of $60.14 billion, a P/E ratio of 23.41, a P/E/G ratio of 1.82 and a beta of 0.57. Cencora, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. The stock has a 50 day moving average price of $301.86 and a 200 day moving average price of $311.85.

Cencora (NYSE:COR) last posted 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 firm had revenue of $84.75 billion for the quarter, compared to analysts’ expectations of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $4.00 earnings per share. As a group, sell-side analysts predict that Cencora, Inc. will post 17.87 earnings per share for the current year.

Cencora Dividend Announcement

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

Cencora declared that its board has approved a stock buyback program on Thursday, May 21st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on COR shares. Evercore reissued an “outperform” rating and issued a $350.00 price objective on shares of Cencora in a report on Thursday, August 6th. UBS Group lifted their target price on Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Royal Bank Of Canada initiated coverage on shares of Cencora in a research note on Wednesday. They issued a “sector perform” rating and a $330.00 price target on the stock. Robert W. Baird set a $370.00 price objective on Cencora in a research report on Thursday, August 6th. Finally, Wells Fargo & Company raised their target price on shares of Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $370.85.

Insider Buying and Selling at Cencora

In other Cencora news, Director Lauren M. Tyler acquired 550 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average cost of $270.23 per share, with a total value of $148,626.50. Following the completion of the purchase, the director directly owned 4,359 shares in the company, valued at $1,177,932.57. The trade was a 14.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is owned by insiders.

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.