Foster & Motley Inc. Takes $1.50 Million Position in Cencora, Inc. $COR

by · The Cerbat Gem

Foster & Motley Inc. purchased a new position in Cencora, Inc. (NYSE:CORFree Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,317 shares of the company’s stock, valued at approximately $1,505,000.

Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Cencora in the second quarter worth about $5,154,136,000. T. Rowe Price Investment Management Inc. increased its position 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 valued at $2,262,956,000 after purchasing an additional 4,123,795 shares during the period. Norges Bank purchased a new position in Cencora during the 4th quarter valued at about $822,506,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Cencora in the 2nd quarter valued at about $483,772,000. Finally, Marshall Wace LLP lifted its position in shares of Cencora by 518.9% in the 3rd 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 period. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cencora

In other Cencora news, Director Lauren M. Tyler acquired 550 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were bought at an average cost of $270.23 per share, with a total value of $148,626.50. Following the completion of the acquisition, the director owned 4,359 shares in the company, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on COR. Morgan Stanley increased their price objective on shares of Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. William Blair began coverage on Cencora in a report on Tuesday, April 28th. They set a “market perform” rating for the company. Weiss Ratings raised Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Royal Bank Of Canada began coverage on Cencora in a report on Wednesday. They issued a “sector perform” rating and a $330.00 price target on the stock. Finally, Wells Fargo & Company boosted their price target on Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and an average target price of $370.85.

Check Out Our Latest Analysis on COR

Cencora Stock Performance

COR opened at $316.78 on Thursday. The firm has a fifty day moving average price of $301.20 and a 200 day moving average price of $312.16. 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 $60.45 billion, a P/E ratio of 23.53, a P/E/G ratio of 1.81 and a beta of 0.57. 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:CORGet Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $84.31 billion. During the same quarter in the previous year, the company earned $4.00 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts anticipate that Cencora, Inc. will post 17.87 earnings per share for the current year.

Cencora declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 21st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 3.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Cencora Dividend Announcement

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

Cencora Company Profile

(Free Report)

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.

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