Commerce Bank Takes Position in Cencora, Inc. $COR

Commerce Bank bought a new stake in Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 24,299 shares of the company’s stock, valued at approximately $6,876,000.

Several other large investors have also recently added to or reduced their stakes in COR. BlackRock Inc. acquired a new position in shares of Cencora during the 2nd quarter valued at about $5,154,136,000. T. Rowe Price Investment Management Inc. boosted its position in shares of Cencora by 160.1% in 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 acquiring an additional 4,123,795 shares during the last quarter. Norges Bank purchased a new stake in Cencora in the fourth quarter valued at approximately $822,506,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Cencora in the second quarter valued at approximately $483,772,000. Finally, Marshall Wace LLP increased its position in Cencora by 518.9% during the third 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 during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Price Performance

Cencora stock opened at $317.89 on Monday. The firm has a fifty day moving average of $302.59 and a 200-day moving average of $311.52. Cencora, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. The firm has a market capitalization of $60.66 billion, a P/E ratio of 23.62, a PEG ratio of 1.83 and a beta of 0.57.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, topping the consensus estimate of $4.35 by $0.13. The company had revenue of $84.75 billion during the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.00 earnings per share. As a group, analysts predict that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora Announces Dividend

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

Cencora declared that its board has authorized a share repurchase plan on Thursday, May 21st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have weighed in on COR. Barclays decreased their price target on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating on the stock in a report on Wednesday, June 10th. JPMorgan Chase & Co. increased their target price on Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. William Blair started coverage on Cencora in a report on Tuesday, April 28th. They issued a “market perform” rating on the stock. Citigroup reissued a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and a consensus target price of $370.85.

Insider Transactions at Cencora

In other news, Director Lauren M. Tyler acquired 550 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were bought at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the purchase, the director directly owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.38% of the stock is owned by company insiders.

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.