Asset Management One Co. Ltd. Increases Stake in Cencora, Inc. $COR

Asset Management One Co. Ltd. lifted its stake in shares of Cencora, Inc. (NYSE:COR) by 13.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 119,456 shares of the company’s stock after buying an additional 13,819 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Cencora were worth $35,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Atlantic Edge Private Wealth Management LLC increased its position in shares of Cencora by 70.0% during the second quarter. Atlantic Edge Private Wealth Management LLC now owns 85 shares of the company’s stock valued at $25,000 after buying an additional 35 shares during the period. Cornerstone Planning Group LLC boosted its stake in Cencora by 106.7% during the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock worth $26,000 after acquiring an additional 48 shares in the last quarter. Costello Asset Management INC bought a new stake in Cencora during the first quarter worth about $28,000. University of Texas Texas AM Investment Management Co. bought a new stake in Cencora during the first quarter worth about $39,000. Finally, Golden State Wealth Management LLC boosted its stake in Cencora by 157.6% during the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company’s stock worth $47,000 after acquiring an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Ratings Changes

COR has been the topic of several research reports. Jefferies Financial Group boosted their price objective on shares of Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research note on Monday, June 30th. Wells Fargo & Company boosted their price objective on shares of Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. Mizuho boosted their price objective on shares of Cencora from $316.00 to $334.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Morgan Stanley set a $330.00 price objective on shares of Cencora and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Finally, Evercore ISI set a $340.00 price objective on shares of Cencora in a research note on Wednesday, October 8th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $324.91.

Insider Buying and Selling

In related news, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $326.80, for a total transaction of $1,665,699.60. Following the transaction, the chief executive officer owned 37,940 shares in the company, valued at $12,398,792. This represents a 11.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the transaction, the chairman owned 305,913 shares in the company, valued at approximately $88,671,942.18. This trade represents a 9.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,544 shares of company stock worth $12,230,941. 10.80% of the stock is owned by insiders.

Cencora Trading Up 1.4%

Shares of NYSE COR opened at $333.02 on Friday. The firm’s 50 day moving average price is $304.09 and its 200-day moving average price is $294.87. The company has a market cap of $64.56 billion, a PE ratio of 34.26, a P/E/G ratio of 1.54 and a beta of 0.63. Cencora, Inc. has a 52-week low of $223.92 and a 52-week high of $334.34. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $0.21. The firm had revenue of $80.66 billion for the quarter, compared to the consensus estimate of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The business’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.34 earnings per share. On average, equities research analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were given a dividend of $0.55 per share. The ex-dividend date was Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. Cencora’s dividend payout ratio is 22.63%.

About Cencora

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.