Global Retirement Partners LLC Takes Position in Cencora, Inc. $COR

Global Retirement Partners LLC bought a new stake in shares of Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,351 shares of the company’s stock, valued at approximately $2,363,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kemnay Advisory Services Inc. bought a new stake in Cencora in the fourth quarter valued at approximately $25,000. Oakworth Capital Inc. bought a new position in shares of Cencora in the fourth quarter worth approximately $26,000. Elyxium Wealth LLC bought a new position in shares of Cencora in the fourth quarter worth approximately $27,000. Elevation Wealth Partners LLC increased its stake in shares of Cencora by 506.2% in the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock worth $27,000 after buying an additional 81 shares during the period. Finally, Archer Investment Corp increased its stake in shares of Cencora by 134.3% in the fourth quarter. Archer Investment Corp now owns 82 shares of the company’s stock worth $28,000 after buying an additional 47 shares during the period. 97.52% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Lauren M. Tyler purchased 550 shares of Cencora stock in a transaction that occurred on 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 transaction, the director directly owned 4,359 shares of the company’s stock, valued at $1,177,932.57. This represents a 14.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.38% of the stock is owned by corporate insiders.

Cencora Stock Performance

Shares of COR stock opened at $313.86 on Monday. The firm has a market capitalization of $59.89 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 1.80 and a beta of 0.57. The stock has a fifty day moving average of $298.98 and a 200 day moving average of $312.94. 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.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share (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 business had revenue of $84.75 billion for the quarter, compared to the consensus estimate of $84.31 billion. During the same period in the previous year, the firm earned $4.00 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, research analysts expect that Cencora, Inc. will post 17.84 earnings per share for the current year.

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

Cencora Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on COR shares. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Evercore restated an “outperform” rating and issued a $350.00 price objective on shares of Cencora in a research report on Thursday, August 6th. Barclays lowered their price objective on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Robert W. Baird set a $370.00 target price on shares of Cencora in a report on Thursday, August 6th. Finally, Citigroup reissued a “buy” rating on shares of Cencora in a research note on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $374.25.

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.