Asahi Life Asset Management CO. LTD. Makes New $431,000 Investment in Cencora, Inc. (NYSE:COR)

Asahi Life Asset Management CO. LTD. bought a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,550 shares of the company's stock, valued at approximately $431,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of COR. Independent Advisor Alliance boosted its holdings in Cencora by 64.7% in the 4th quarter. Independent Advisor Alliance now owns 1,659 shares of the company's stock valued at $373,000 after purchasing an additional 652 shares during the period. Moors & Cabot Inc. boosted its stake in Cencora by 3.4% during the fourth quarter. Moors & Cabot Inc. now owns 1,991 shares of the company's stock worth $447,000 after buying an additional 66 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in Cencora by 8.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 7,174 shares of the company's stock valued at $1,612,000 after buying an additional 544 shares during the period. Farther Finance Advisors LLC raised its position in Cencora by 45.9% in the fourth quarter. Farther Finance Advisors LLC now owns 2,305 shares of the company's stock worth $518,000 after purchasing an additional 725 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its stake in Cencora by 2.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 17,182 shares of the company's stock valued at $3,860,000 after buying an additional 351 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the transaction, the chief executive officer owned 47,582 shares of the company's stock, valued at $13,766,900.06. The trade was a 9.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 14,579 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total value of $4,266,106.98. Following the completion of the sale, the chairman directly owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. The trade was a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,127 shares of company stock worth $9,812,296. Company insiders own 10.80% of the company's stock.

Wall Street Analyst Weigh In

COR has been the topic of several research reports. Citigroup upped their price target on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Robert W. Baird lifted their price objective on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Morgan Stanley set a $288.00 price target on shares of Cencora in a research report on Tuesday, April 15th. Finally, Jefferies Financial Group increased their price objective on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a report on Monday, June 30th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $306.33.

Cencora Stock Up 0.6%

Shares of COR traded up $1.79 during midday trading on Monday, hitting $297.00. The stock had a trading volume of 918,671 shares, compared to its average volume of 1,637,032. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52. The firm has a market cap of $57.57 billion, a price-to-earnings ratio of 34.45, a price-to-earnings-growth ratio of 1.46 and a beta of 0.57. The company has a 50 day simple moving average of $291.91 and a two-hundred day simple moving average of $270.29. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35.

Cencora (NYSE:COR - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating analysts' consensus estimates of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The business had revenue of $75.50 billion during the quarter, compared to the consensus estimate of $75.41 billion. During the same quarter last year, the firm earned $3.80 earnings per share. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. On average, analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, May 16th. Cencora's dividend payout ratio (DPR) is 25.52%.

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.