Clear Harbor Asset Management LLC Acquires New Holdings in Cencora, Inc. $COR

Clear Harbor Asset Management LLC bought a new stake in Cencora, Inc. (NYSE:COR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,279 shares of the company’s stock, valued at approximately $1,494,000.

Several other large investors also recently added to or reduced their stakes in the business. United Bank increased its position in Cencora by 4.5% during the second 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 bought a new position in shares of Cencora in the 2nd quarter valued at approximately $595,000. Treasurer of the State of North Carolina lifted its holdings in Cencora by 7.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 85,534 shares of the company’s stock worth $25,647,000 after purchasing an additional 6,244 shares during the last quarter. Diversify Advisory Services LLC grew its holdings 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 last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Cencora by 26.0% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 73,452 shares of the company’s stock valued at $22,025,000 after purchasing an additional 15,154 shares during the period. 97.52% of the stock is owned by institutional investors.

Cencora Stock Performance

Cencora stock opened at $317.89 on Friday. Cencora, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54. The firm has a market capitalization of $60.66 billion, a P/E ratio of 23.62, a P/E/G ratio of 1.83 and a beta of 0.57. The stock has a fifty day moving average price of $302.59 and a two-hundred day moving average price of $311.89. 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 released its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 EPS 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 firm had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. During the same period in the previous year, the business earned $4.00 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts anticipate that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora announced that its Board of Directors has authorized a share buyback plan on Thursday, May 21st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Cencora Announces Dividend

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

Insider Transactions at Cencora

In other Cencora 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 price of $270.23 per share, for a total transaction of $148,626.50. Following the transaction, the director owned 4,359 shares in the company, valued at $1,177,932.57. This trade represents a 14.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Barclays cut their target price on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. UBS Group upped their price target on shares of Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Bank of America raised their target price on Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $370.85.

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.