Canada Pension Plan Investment Board Invests $42.46 Million in Cencora, Inc. $COR

Canada Pension Plan Investment Board bought a new stake in Cencora, Inc. (NYSE:COR) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 150,037 shares of the company’s stock, valued at approximately $42,457,000. Canada Pension Plan Investment Board owned approximately 0.08% of Cencora as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the business. Accent Capital Management LLC increased its position in Cencora by 36.1% in the 4th quarter. Accent Capital Management LLC now owns 113 shares of the company’s stock valued at $38,000 after acquiring an additional 30 shares in the last quarter. MCF Advisors LLC lifted its position in shares of Cencora by 11.0% during the fourth quarter. MCF Advisors LLC now owns 303 shares of the company’s stock worth $102,000 after purchasing an additional 30 shares in the last quarter. CYBER HORNET ETFs LLC lifted its position in shares of Cencora by 6.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 485 shares of the company’s stock worth $164,000 after purchasing an additional 31 shares in the last quarter. Steph & Co. grew its stake in shares of Cencora by 23.5% during the first quarter. Steph & Co. now owns 168 shares of the company’s stock valued at $53,000 after purchasing an additional 32 shares during the last quarter. Finally, Beacon Pointe Advisors LLC increased its holdings in shares of Cencora by 1.1% in the fourth quarter. Beacon Pointe Advisors LLC now owns 3,492 shares of the company’s stock valued at $1,180,000 after purchasing an additional 37 shares in the last quarter. 97.52% of the stock is owned by institutional investors.

Cencora Stock Performance

Shares of NYSE:COR opened at $321.31 on Friday. The firm’s 50 day simple moving average is $306.37 and its 200 day simple moving average is $310.80. Cencora, Inc. has a fifty-two week low of $244.82 and a fifty-two week high of $377.54. The company has a market capitalization of $61.32 billion, a price-to-earnings ratio of 23.87, a P/E/G ratio of 1.88 and a beta of 0.57. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.35 by $0.13. The firm had revenue of $84.75 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.00 earnings per share. As a group, sell-side analysts forecast that Cencora, Inc. will post 17.87 earnings per share for the current year.

Cencora declared that its board has authorized a stock buyback plan on Thursday, May 21st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Cencora Announces Dividend

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

Insiders Place Their Bets

In other Cencora news, 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 completion of the transaction, the executive vice president directly owned 19,455 shares of the company’s stock, valued at approximately $6,305,754.60. The trade was a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren M. Tyler purchased 550 shares of the stock in a transaction on Monday, June 22nd. The stock was acquired 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 directly owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. This represents a 14.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on COR shares. Wall Street Zen upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Robert W. Baird set a $370.00 price objective on Cencora in a research report on Thursday, August 6th. UBS Group lifted their target price on Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Citigroup restated a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Finally, Barclays cut their price target on Cencora from $425.00 to $350.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 10th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $370.85.

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.