Fairtree Asset Management Pty Ltd Makes New $1.77 Million Investment in Cencora, Inc. $COR

Fairtree Asset Management Pty Ltd acquired a new position in shares of Cencora, Inc. (NYSE:COR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,249 shares of the company’s stock, valued at approximately $1,768,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Cencora by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 23,617,117 shares of the company’s stock worth $7,976,681,000 after acquiring an additional 221,570 shares during the period. BlackRock Inc. purchased a new stake in shares of Cencora during the 2nd quarter valued at $5,154,136,000. State Street Corp grew its stake in shares of Cencora by 1.3% during the 4th quarter. State Street Corp now owns 9,305,507 shares of the company’s stock valued at $3,142,935,000 after buying an additional 115,191 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in shares of Cencora by 160.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock worth $2,262,956,000 after buying an additional 4,123,795 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Cencora by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 5,459,476 shares of the company’s stock worth $1,843,268,000 after buying an additional 169,055 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on COR. UBS Group lifted their target price on Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wells Fargo & Company boosted their target price on Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Evercore restated an “outperform” rating and issued a $350.00 price target on shares of Cencora in a report on Thursday, August 6th. JPMorgan Chase & Co. boosted their price objective on shares of Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, Bank of America increased their price objective 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. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $370.85.

Cencora Stock Down 0.6%

Shares of NYSE:COR opened at $315.15 on Friday. The company has a market capitalization of $60.14 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 1.82 and a beta of 0.57. The company has a 50 day moving average of $301.86 and a two-hundred day moving average of $311.85. Cencora, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54. 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 posted 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 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%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.00 earnings per share. As a group, analysts forecast 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 issued a $0.60 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.8%. Cencora’s payout ratio is currently 17.83%.

Cencora announced that its board has initiated a stock repurchase plan on Thursday, May 21st that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Cencora

In other Cencora news, Director Lauren M. Tyler purchased 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 acquisition, the director owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.38% of the company’s stock.

Cencora 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.