Empowered Funds LLC Makes New Investment in Cencora, Inc. $COR

Empowered Funds LLC bought a new stake in Cencora, Inc. (NYSE:COR) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 24,932 shares of the company’s stock, valued at approximately $7,055,000.

Several other institutional investors also recently made changes to their positions in the stock. United Bank grew its stake 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 during the last quarter. Nebula Research & Development LLC bought a new stake in Cencora in the second quarter valued at $595,000. Treasurer of the State of North Carolina lifted its stake in 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 valued at $25,647,000 after buying an additional 6,244 shares during the last quarter. Diversify Advisory Services LLC lifted its stake in Cencora by 94.1% in the second quarter. Diversify Advisory Services LLC now owns 2,585 shares of the company’s stock valued at $747,000 after buying an additional 1,253 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings 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 valued at $22,025,000 after acquiring an additional 15,154 shares during the period. 97.52% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Lauren M. Tyler acquired 550 shares of Cencora stock in a transaction dated Monday, June 22nd. The stock was acquired at an average cost of $270.23 per share, with a total value of $148,626.50. Following the purchase, the director directly owned 4,359 shares in the company, valued at $1,177,932.57. The trade was a 14.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Elizabeth S. Campbell sold 11,300 shares of Cencora stock in a transaction on 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 owned 19,455 shares in the company, valued at $6,305,754.60. The trade was a 36.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.38% of the company’s stock.

Cencora Stock Up 0.0%

Shares of COR stock opened at $322.12 on Monday. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. The business’s fifty day moving average is $307.38 and its 200-day moving average is $310.51. The stock has a market cap of $61.47 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 1.85 and a beta of 0.57.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.35 by $0.13. The business had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.00 earnings per share. Equities analysts expect that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

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

Cencora Dividend Announcement

The firm also recently declared 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. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, August 14th. Cencora’s dividend payout ratio is presently 17.83%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Robert W. Baird set a $370.00 price objective on shares of Cencora in a research report on Thursday, August 6th. Barclays reduced their target price on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Bank of America upped their target price 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. Finally, Evercore reaffirmed an “outperform” rating and set a $350.00 price target on shares of Cencora in a report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $370.85.

About Cencora

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.