Jupiter Topco LLC Buys New Position in Cencora, Inc. $COR

Jupiter Topco LLC bought a new stake in Cencora, Inc. (NYSE:COR) during the second quarter, Holdings Channel.com reports. The fund bought 321,072 shares of the company’s stock, valued at approximately $90,857,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COR. ExodusPoint Capital Management LP bought a new position in shares of Cencora during the 4th quarter worth approximately $16,487,000. Impact Partnership Wealth LLC bought a new stake in Cencora in the first quarter valued at $1,170,000. SEB Asset Management AB bought a new stake in Cencora in the first quarter valued at $134,139,000. PFA Pension Forsikringsaktieselskab acquired a new position in Cencora during the fourth quarter worth $59,145,000. Finally, Summit Global Investments acquired a new position in Cencora during the second quarter worth $2,283,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Trading Down 0.0%

Shares of NYSE COR opened at $327.94 on Thursday. Cencora, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54. The company has a 50-day moving average of $305.39 and a two-hundred day moving average of $311.07. The company has a market cap of $62.58 billion, a PE ratio of 24.36, a P/E/G ratio of 1.88 and a beta of 0.57. 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 released its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, beating the consensus estimate of $4.35 by $0.13. The business had revenue of $84.75 billion for the quarter, compared to analysts’ expectations of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. Cencora’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.00 earnings per share. As a group, equities analysts expect that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, August 14th. Cencora’s dividend payout ratio (DPR) is presently 17.83%.

Cencora announced that its Board of Directors has approved a stock repurchase program on Thursday, May 21st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently commented on COR shares. Weiss Ratings upgraded shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Royal Bank Of Canada initiated coverage on shares of Cencora in a research report on Wednesday, August 19th. They set a “sector perform” rating and a $330.00 target price for the company. Evercore reissued an “outperform” rating and set a $350.00 price target on shares of Cencora in a report on Thursday, August 6th. Morgan Stanley upped their price objective on shares of Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, Robert W. Baird set a $370.00 target price on shares of Cencora in a research note on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Cencora has a consensus rating of “Moderate Buy” and a consensus target price of $370.85.

Insider Buying and Selling at Cencora

In other news, Director Lauren M. Tyler acquired 550 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average cost 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 in the company, valued at $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the business’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 sale, the executive vice president directly owned 19,455 shares of the company’s stock, valued at $6,305,754.60. This represents a 36.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.38% of the stock is currently owned by company 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.