Jupiter Topco LLC Invests $90.86 Million in Cencora, Inc. $COR

Jupiter Topco LLC acquired a new position in shares of Cencora, Inc. (NYSE:COR) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 321,072 shares of the company’s stock, valued at approximately $90,857,000. Jupiter Topco LLC owned about 0.17% of Cencora at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in COR. BlackRock Inc. acquired a new position in shares of Cencora during the 2nd quarter valued at $5,154,136,000. State Street Corp increased its stake in Cencora by 1.3% in the 4th quarter. State Street Corp now owns 9,305,507 shares of the company’s stock worth $3,142,935,000 after purchasing an additional 115,191 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Cencora by 160.1% during 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 buying an additional 4,123,795 shares during the period. Geode Capital Management LLC raised its holdings in Cencora by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 5,459,476 shares of the company’s stock worth $1,843,268,000 after buying an additional 169,055 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Cencora by 6.5% during the fourth quarter. JPMorgan Chase & Co. now owns 4,982,557 shares of the company’s stock valued at $1,682,859,000 after buying an additional 304,760 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Wall Street Analysts Forecast Growth

COR has been the topic of several analyst reports. Royal Bank Of Canada started coverage on shares of Cencora in a research report on Wednesday, August 19th. They issued a “sector perform” rating and a $330.00 target price on the stock. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Barclays decreased their target price on Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. Robert W. Baird set a $370.00 price target on Cencora in a report on Thursday, August 6th. Finally, Bank of America upped their price target on Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday, June 24th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $370.85.

Insider Buying and Selling

In other Cencora news, EVP Elizabeth S. Campbell sold 11,300 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the transaction, the executive vice president owned 19,455 shares in the company, valued at $6,305,754.60. This trade represents a 36.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lauren M. Tyler purchased 550 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was purchased at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the transaction, the director 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.38% of the stock is currently owned by company insiders.

Cencora Price Performance

COR opened at $327.94 on Thursday. The stock has a fifty day moving average price of $305.39 and a 200 day moving average price of $311.07. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. The stock has a market cap of $62.58 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.88 and a beta of 0.57.

Cencora (NYSE:COR) last posted its 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 company had revenue of $84.75 billion during the quarter, compared to the consensus estimate of $84.31 billion. During the same period in the previous year, the firm posted $4.00 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts forecast that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

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 $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 14th. Cencora’s dividend payout ratio (DPR) is presently 17.83%.

Cencora declared that its board has initiated 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 repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.