Asset Management One Co. Ltd. Buys 6,755 Shares of Cencora, Inc. (NYSE:COR)

Asset Management One Co. Ltd. lifted its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 6.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 105,637 shares of the company's stock after buying an additional 6,755 shares during the quarter. Asset Management One Co. Ltd. owned about 0.05% of Cencora worth $29,377,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Cencora by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company's stock worth $1,990,542,000 after buying an additional 78,066 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Cencora by 62.3% during the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock worth $1,166,944,000 after buying an additional 1,994,256 shares during the last quarter. Boston Partners lifted its stake in shares of Cencora by 2.6% during the 4th quarter. Boston Partners now owns 5,007,100 shares of the company's stock worth $1,128,058,000 after buying an additional 125,611 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Cencora by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company's stock worth $969,471,000 after buying an additional 130,213 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Cencora by 20.4% during the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock worth $728,757,000 after buying an additional 550,246 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Analysts Set New Price Targets

COR has been the subject of a number of research reports. Citigroup raised their target price on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Wells Fargo & Company raised shares of Cencora from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Robert W. Baird raised their price target on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. UBS Group raised their price target on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, Wall Street Zen raised shares of Cencora from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $306.91.

Cencora Price Performance

Shares of NYSE:COR traded up $3.13 during midday trading on Friday, hitting $299.71. The stock had a trading volume of 2,156,014 shares, compared to its average volume of 1,504,613. The company's 50-day moving average price is $289.95 and its 200-day moving average price is $265.22. The company has a market capitalization of $58.09 billion, a P/E ratio of 34.77, a price-to-earnings-growth ratio of 1.48 and a beta of 0.58. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35.

Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, beating the consensus estimate of $4.07 by $0.35. The company had revenue of $75.50 billion during the quarter, compared to analysts' expectations of $75.41 billion. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.80 EPS. As a group, equities research analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Friday, May 16th. Cencora's payout ratio is presently 25.52%.

Insider Activity

In related news, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the sale, the chief executive officer now directly owns 47,582 shares of the company's stock, valued at approximately $13,766,900.06. The trade was a 9.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the sale, the chairman now directly owns 315,913 shares in the company, valued at $89,027,442.53. This trade represents a 4.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,127 shares of company stock worth $9,812,296. 10.80% of the stock is currently owned by corporate insiders.

Cencora Company 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.