Sumitomo Mitsui DS Asset Management Company Ltd Grows Position in Cencora, Inc. (NYSE:COR)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Cencora, Inc. (NYSE:COR) by 1.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,285 shares of the company’s stock after purchasing an additional 305 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Cencora were worth $6,366,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Financial Advocates Investment Management grew its holdings in Cencora by 4.7% in the second quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock valued at $220,000 after purchasing an additional 44 shares during the period. Checchi Capital Advisers LLC lifted its position in Cencora by 2.2% during the second quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock valued at $499,000 after buying an additional 48 shares in the last quarter. Valeo Financial Advisors LLC lifted its position in Cencora by 3.4% during the second quarter. Valeo Financial Advisors LLC now owns 1,566 shares of the company’s stock valued at $353,000 after buying an additional 51 shares in the last quarter. Evergreen Capital Management LLC lifted its position in Cencora by 4.7% during the second quarter. Evergreen Capital Management LLC now owns 1,147 shares of the company’s stock valued at $258,000 after buying an additional 52 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted its position in Cencora by 1.4% during the third quarter. Vontobel Holding Ltd. now owns 4,250 shares of the company’s stock valued at $957,000 after buying an additional 58 shares in the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Trading Up 0.8 %

NYSE COR opened at $237.43 on Friday. Cencora, Inc. has a 12 month low of $182.75 and a 12 month high of $247.66. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. The company has a market capitalization of $47.36 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 1.40 and a beta of 0.44. The company’s fifty day moving average price is $232.38 and its two-hundred day moving average price is $231.06.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The firm had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. During the same period in the prior year, the firm posted $2.92 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. As a group, research analysts predict that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were given a $0.51 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.86%. Cencora’s payout ratio is currently 22.32%.

Insider Transactions at Cencora

In other news, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value of $357,482.37. Following the transaction, the executive vice president now directly owns 10,948 shares in the company, valued at approximately $2,656,970.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value of $357,482.37. Following the transaction, the executive vice president now directly owns 10,948 shares in the company, valued at approximately $2,656,970.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the transaction, the insider now owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 15.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Leerink Partners reduced their target price on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Robert W. Baird decreased their target price on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $259.44.

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.