VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $18.80 Million Investment in Cencora, Inc. $COR

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Cencora, Inc. (NYSE:COR) during the second quarter, HoldingsChannel reports. The firm acquired 66,433 shares of the company’s stock, valued at approximately $18,799,000.

Several other large investors also recently made changes to their positions in COR. California State Teachers Retirement System grew its stake in shares of Cencora by 26,305.7% in the second quarter. California State Teachers Retirement System now owns 74,523,349 shares of the company’s stock valued at $21,088,617,000 after buying an additional 74,241,125 shares in the last quarter. BlackRock Inc. bought a new stake in Cencora during the second quarter worth $5,154,136,000. T. Rowe Price Investment Management Inc. raised its position in Cencora by 160.1% during 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 in the last quarter. Bank of America Corp DE acquired a new stake in Cencora in the second quarter valued at $1,056,625,000. Finally, Norges Bank acquired a new stake in Cencora in the fourth quarter valued at $822,506,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Price Performance

NYSE:COR opened at $330.52 on Tuesday. Cencora, Inc. has a one year low of $244.82 and a one year high of $377.54. The company has a market cap of $63.07 billion, a P/E ratio of 24.56, a P/E/G ratio of 1.88 and a beta of 0.57. The firm’s fifty day moving average price is $313.30 and its two-hundred day moving average price is $309.32. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.35 by $0.13. The company had revenue of $84.75 billion during 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%. Cencora’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $4.00 EPS. Equities analysts expect that Cencora, Inc. will post 17.87 earnings per share for the current 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 purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 14th. Cencora’s dividend payout ratio is currently 17.83%.

Insider Activity at Cencora

In related news, Director Lauren M. Tyler acquired 550 shares of the business’s stock in a transaction on 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 completion of the transaction, the director directly owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. The trade was a 14.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Elizabeth Campbell sold 11,300 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $324.12, for a total value of $3,662,556.00. Following the sale, the executive vice president owned 19,455 shares of the company’s stock, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Robert W. Baird set a $370.00 price objective on shares of Cencora in a research report on Thursday, August 6th. Barclays dropped their target price 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. Citigroup reiterated a “buy” rating on shares of Cencora in a research note on Thursday, August 6th. JPMorgan Chase & Co. lifted their price target on Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Evercore reissued an “outperform” rating and set a $350.00 price target on shares of Cencora in a research report on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.