Kingsview Wealth Management LLC Purchases New Position in Cencora, Inc. $COR

Kingsview Wealth Management LLC purchased a new position in Cencora, Inc. (NYSE:COR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,723 shares of the company’s stock, valued at approximately $488,000.

Several other institutional investors also recently bought and sold shares of COR. BlackRock Inc. purchased a new position in shares of Cencora during the 2nd quarter valued at approximately $5,154,136,000. State Street Corp increased its stake in shares of Cencora by 1.3% during the fourth quarter. State Street Corp now owns 9,305,507 shares of the company’s stock worth $3,142,935,000 after purchasing an additional 115,191 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of 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 purchasing an additional 4,123,795 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Cencora by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 5,459,476 shares of the company’s stock worth $1,843,268,000 after purchasing an additional 169,055 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Cencora by 6.5% in the 4th quarter. JPMorgan Chase & Co. now owns 4,982,557 shares of the company’s stock valued at $1,682,859,000 after buying an additional 304,760 shares in the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COR has been the topic of several research analyst reports. Bank of America lifted their price objective on Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Robert W. Baird set a $370.00 target price on Cencora in a research report on Thursday, August 6th. Wall Street Zen raised Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings upgraded Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Finally, Wells Fargo & Company raised their price objective on Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. 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.com, Cencora presently has a consensus rating of “Moderate Buy” and a consensus price target of $370.85.

Cencora Trading Up 0.0%

COR opened at $322.12 on Monday. The firm has a market capitalization of $61.47 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 1.85 and a beta of 0.57. The company’s 50 day simple moving average is $307.38 and its two-hundred day simple moving average is $310.51. Cencora, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54. 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 quarterly earnings results 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 return on equity of 125.45% and a net margin of 0.79%.The business had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. During the same period in the prior year, the business earned $4.00 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. Analysts expect that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be paid a $0.60 dividend. 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 0.7%. Cencora’s dividend payout ratio (DPR) is 17.83%.

Cencora announced that its Board of Directors has initiated a share buyback program on Thursday, May 21st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Cencora

In other news, Director Lauren M. Tyler acquired 550 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average price 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 of the company’s stock, 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 SEC, which is available at this link. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the firm’s stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.38% of the stock is owned by insiders.

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.