Laraway Financial Advisors Inc Invests $821,000 in Cencora, Inc. $COR

Laraway Financial Advisors Inc acquired a new stake in Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,900 shares of the company’s stock, valued at approximately $821,000.

A number of other institutional investors have also recently made changes to their positions in the business. United Bank lifted its holdings in Cencora by 4.5% during the 2nd quarter. United Bank now owns 7,032 shares of the company’s stock worth $2,109,000 after buying an additional 305 shares in the last quarter. Nebula Research & Development LLC acquired a new position in shares of Cencora in the second quarter worth $595,000. Treasurer of the State of North Carolina grew its stake in shares of Cencora by 7.9% in the second quarter. Treasurer of the State of North Carolina now owns 85,534 shares of the company’s stock worth $25,647,000 after acquiring an additional 6,244 shares in the last quarter. Diversify Advisory Services LLC increased its position in shares of Cencora by 94.1% during the second quarter. Diversify Advisory Services LLC now owns 2,585 shares of the company’s stock worth $747,000 after acquiring an additional 1,253 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Cencora by 26.0% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 73,452 shares of the company’s stock worth $22,025,000 after acquiring an additional 15,154 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on COR shares. Bank of America increased their price objective on Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. JPMorgan Chase & Co. upped their price target on Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Morgan Stanley upped their price target on Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. UBS Group increased their price target on Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Barclays decreased their price objective on Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Cencora has an average rating of “Moderate Buy” and an average price target of $374.25.

Cencora Price Performance

Shares of COR opened at $313.86 on Friday. The firm has a market capitalization of $59.89 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 1.78 and a beta of 0.57. The firm’s fifty day simple moving average is $298.98 and its 200-day simple moving average is $313.24. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping analysts’ consensus estimates of $4.35 by $0.13. The firm had revenue of $84.75 billion during the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.00 earnings per share. Equities analysts forecast that Cencora, Inc. will post 17.84 EPS for the current fiscal year.

Cencora Dividend Announcement

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

Cencora announced that its board has authorized a share repurchase program on Thursday, May 21st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other Cencora news, Director Lauren M. Tyler acquired 550 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were acquired 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. The trade was a 14.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.38% of the company’s stock.

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.