Westpac Banking Corp Acquires Shares of 17,177 Cencora, Inc. $COR

Westpac Banking Corp acquired a new position in Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,177 shares of the company’s stock, valued at approximately $4,861,000.

A number of other large investors have also recently modified their holdings of the stock. Accent Capital Management LLC lifted its holdings in Cencora by 36.1% in the fourth quarter. Accent Capital Management LLC now owns 113 shares of the company’s stock worth $38,000 after buying an additional 30 shares during the period. MCF Advisors LLC grew its holdings in shares of Cencora by 11.0% during the 4th quarter. MCF Advisors LLC now owns 303 shares of the company’s stock worth $102,000 after acquiring an additional 30 shares during the period. CYBER HORNET ETFs LLC grew its holdings in shares of Cencora by 6.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 485 shares of the company’s stock worth $164,000 after acquiring an additional 31 shares during the period. Steph & Co. raised its position in shares of Cencora by 23.5% in the 1st quarter. Steph & Co. now owns 168 shares of the company’s stock worth $53,000 after acquiring an additional 32 shares in the last quarter. Finally, Beacon Pointe Advisors LLC raised its position in shares of Cencora by 1.1% in the 4th quarter. Beacon Pointe Advisors LLC now owns 3,492 shares of the company’s stock worth $1,180,000 after acquiring an additional 37 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

Analyst Ratings Changes

COR has been the topic of several research reports. Barclays dropped their price target on Cencora from $425.00 to $350.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 10th. Wells Fargo & Company increased their price objective on Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. William Blair assumed coverage on Cencora in a research report on Tuesday, April 28th. They set a “market perform” rating for the company. JPMorgan Chase & Co. boosted their target price on shares of Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Morgan Stanley increased their price target 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. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $370.85.

Cencora Stock Up 1.0%

COR stock opened at $317.89 on Friday. Cencora, Inc. has a twelve month low of $244.82 and a twelve month 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. The firm has a market cap of $60.66 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 1.81 and a beta of 0.57. The business has a 50 day moving average of $302.59 and a 200 day moving average of $311.89.

Cencora (NYSE:COR) last released its earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $84.31 billion. During the same period in the previous year, the company posted $4.00 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, research analysts forecast that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be paid 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 presently 17.83%.

Cencora announced that its Board of Directors has authorized a stock buyback plan 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 shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Lauren M. Tyler acquired 550 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were bought at an average cost of $270.23 per share, with a total value of $148,626.50. Following the transaction, 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company 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.