Cencora, Inc. $COR Stock Holdings Cut by Strive Financial Group LLC

Strive Financial Group LLC reduced its position in shares of Cencora, Inc. (NYSE:COR) by 79.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,508 shares of the company’s stock after selling 5,675 shares during the period. Strive Financial Group LLC’s holdings in Cencora were worth $427,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COR. Kemnay Advisory Services Inc. acquired a new stake in shares of Cencora during the 4th quarter valued at $25,000. Elyxium Wealth LLC acquired a new position in shares of Cencora in the 4th quarter worth $27,000. Motiv8 Investments LLC acquired a new position in shares of Cencora in the 4th quarter worth $29,000. Basepoint Wealth LLC acquired a new stake in shares of Cencora during the fourth quarter worth $32,000. Finally, Elevation Wealth Partners LLC raised its position in shares of Cencora by 506.2% during the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock worth $27,000 after purchasing an additional 81 shares during the period. 97.52% of the stock is currently owned by institutional investors.

Cencora Price Performance

Shares of COR opened at $330.52 on Friday. The business’s 50-day moving average is $312.33 and its 200-day moving average is $309.88. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. The company has a market capitalization of $63.07 billion, a price-to-earnings ratio of 24.56, a P/E/G ratio of 1.91 and a beta of 0.57. Cencora, Inc. has a fifty-two week low of $244.82 and a fifty-two week high of $377.54.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the business earned $4.00 EPS. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts expect that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, August 14th. Cencora’s dividend payout ratio (DPR) is currently 17.83%.

Cencora announced that its board has initiated 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 a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms recently weighed in on COR. Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Barclays cut their price objective on Cencora from $425.00 to $350.00 and set an “overweight” rating on the stock in a report on Wednesday, June 10th. Citigroup reiterated a “buy” rating on shares of Cencora in a report on Thursday, August 6th. Bank of America lifted their target price on shares of Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Finally, Evercore restated an “outperform” rating and set a $350.00 price target on shares of Cencora in a report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $370.85.

Insider Buying and Selling at Cencora

In other news, Director Lauren M. Tyler acquired 550 shares of Cencora 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 transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Elizabeth Campbell sold 11,300 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $324.12, for a total value of $3,662,556.00. Following the completion of the transaction, the executive vice president directly owned 19,455 shares in the company, valued at approximately $6,305,754.60. The trade was a 36.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.38% of the stock is currently owned by company insiders.

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.