Asset Management One Co. Ltd. Purchases 13,819 Shares of Cencora, Inc. $COR

Key Points

• Asset Management One Co. Ltd. increased its stake in Cencora, Inc. by 13.1%, acquiring an additional 13,819 shares, bringing its total ownership to 119,456 shares valued at approximately $35.8 million.
• Insider transactions saw CEO Robert P. Mauch sell 5,097 shares for $1.67 million, and Chairman Steven H. Collis sell 31,350 shares for over $9 million, decreasing their holdings by 11.84% and 9.30%, respectively.
• Cencora, Inc. recently posted quarterly earnings of $4.00 EPS, exceeding analysts' estimates, with a revenue of $80.66 billion, marking an 8.7% increase from the previous year.

Asset Management One Co. Ltd. lifted its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 13.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 119,456 shares of the company's stock after acquiring an additional 13,819 shares during the period. Asset Management One Co. Ltd. owned approximately 0.06% of Cencora worth $35,819,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Voleon Capital Management LP bought a new stake in shares of Cencora during the 1st quarter worth $3,111,000. Focus Partners Wealth lifted its holdings in shares of Cencora by 25.8% during the 1st quarter. Focus Partners Wealth now owns 5,715 shares of the company's stock worth $1,589,000 after acquiring an additional 1,171 shares during the last quarter. Martin Capital Partners LLC lifted its holdings in shares of Cencora by 205.2% during the 2nd quarter. Martin Capital Partners LLC now owns 3,784 shares of the company's stock worth $1,135,000 after acquiring an additional 2,544 shares during the last quarter. Fiduciary Alliance LLC bought a new stake in shares of Cencora during the 2nd quarter worth $262,000. Finally, Ascent Group LLC lifted its holdings in shares of Cencora by 42.7% during the 1st quarter. Ascent Group LLC now owns 12,586 shares of the company's stock worth $3,500,000 after acquiring an additional 3,764 shares during the last quarter. 97.52% of the stock is owned by institutional investors.

Insider Transactions at Cencora

In other Cencora news, CEO Robert P. Mauch sold 5,097 shares of the business's stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $326.80, for a total value of $1,665,699.60. Following the transaction, the chief executive officer owned 37,940 shares in the company, valued at approximately $12,398,792. The trade was a 11.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 31,350 shares of the business's stock in a transaction dated 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 $88,671,942.18. This represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,544 shares of company stock worth $12,230,941 in the last 90 days. Corporate insiders own 10.80% of the company's stock.

Cencora Price Performance

COR stock opened at $333.02 on Friday. The firm's 50-day moving average price is $304.09 and its two-hundred day moving average price is $294.87. Cencora, Inc. has a 12-month low of $223.92 and a 12-month high of $334.34. The stock has a market capitalization of $64.56 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 1.54 and a beta of 0.63. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm had revenue of $80.66 billion for the quarter, compared to analysts' expectations of $80.34 billion. During the same quarter in the previous year, the company earned $3.34 earnings per share. The company's revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, equities analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on COR shares. Evercore ISI set a $340.00 price objective on shares of Cencora in a report on Wednesday, October 8th. Wall Street Zen cut shares of Cencora from a "buy" rating to a "hold" rating in a research report on Saturday, October 11th. Mizuho lifted their target price on shares of Cencora from $316.00 to $334.00 and gave the stock an "outperform" rating in a research report on Thursday, October 16th. Wells Fargo & Company lifted their target price on shares of Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Finally, Jefferies Financial Group lifted their target price on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Cencora currently has an average rating of "Moderate Buy" and a consensus price target of $324.91.

Cencora Profile

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.

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