Freestone Grove Partners LP Buys Shares of 145,577 Cencora, Inc. $COR

Freestone Grove Partners LP bought a new position in shares of Cencora, Inc. (NYSE:COR) during the second quarter, HoldingsChannel reports. The fund bought 145,577 shares of the company’s stock, valued at approximately $41,195,000.

Other institutional investors also recently modified their holdings of the company. Caisse de depot et placement du Quebec bought a new position in shares of Cencora in the 2nd quarter valued at $258,710,000. Man Group plc acquired a new stake in shares of Cencora during the 2nd quarter valued at $33,754,000. Roberts Glore & Co. Inc. IL bought a new stake in Cencora during the 2nd quarter worth $486,000. Jupiter Topco LLC bought a new stake in Cencora during the 2nd quarter worth $90,857,000. Finally, Hsbc Holdings PLC acquired a new position in Cencora in the 2nd quarter worth about $218,870,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

COR has been the subject of several research reports. Robert W. Baird set a $370.00 target price on Cencora in a research report on Thursday, August 6th. Bank of America boosted their price target on Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Wells Fargo & Company raised their price objective on shares of Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Morgan Stanley raised their price objective on shares of Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Evercore reiterated an “outperform” rating and set a $350.00 target price on shares of Cencora in a research report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $370.85.

Cencora Stock Down 0.0%

Shares of NYSE:COR opened at $327.94 on Thursday. The firm has a market cap of $62.58 billion, a P/E ratio of 24.36, a P/E/G ratio of 1.88 and a beta of 0.57. Cencora, Inc. has a 12-month low of $244.82 and a 12-month high of $377.54. The business has a fifty day simple moving average of $305.39 and a 200 day simple moving average of $311.07. 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 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. The firm had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The business’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.00 EPS. Analysts predict that Cencora, Inc. will post 17.87 earnings per share for the current year.

Cencora Dividend Announcement

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 payout ratio is currently 17.83%.

Cencora declared that its Board of Directors has authorized a share repurchase program on Thursday, May 21st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Cencora

In other news, Director Lauren M. Tyler purchased 550 shares of the 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 acquisition, the director owned 4,359 shares in the company, valued at $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the firm’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 transaction of $3,662,556.00. Following the transaction, the executive vice president owned 19,455 shares of the company’s stock, valued at approximately $6,305,754.60. The trade was a 36.74% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.38% of the company’s stock.

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.