Norinchukin Bank The Has $2.54 Million Stake in Cencora, Inc. $COR

Key Points

• Norinchukin Bank increased its stake in Cencora, Inc. by 14.4% in Q1, owning 9,119 shares valued at approximately $2.54 million.
• Cencora reported an EPS of $4.00 for the last quarter, surpassing analysts' expectations, and its revenue rose 8.7% year-over-year.
• The company announced a quarterly dividend of $0.55, which will be paid on September 3rd, with an annual yield of 0.8%.

Norinchukin Bank The increased its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 14.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,119 shares of the company's stock after purchasing an additional 1,149 shares during the period. Norinchukin Bank The's holdings in Cencora were worth $2,536,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Cornerstone Planning Group LLC grew its stake in Cencora by 106.7% in the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock valued at $26,000 after acquiring an additional 48 shares during the period. Hoey Investments Inc. acquired a new position in Cencora in the first quarter valued at about $28,000. Costello Asset Management INC acquired a new position in Cencora in the first quarter valued at about $28,000. Banque Transatlantique SA acquired a new position in Cencora in the fourth quarter valued at about $29,000. Finally, Vermillion Wealth Management Inc. acquired a new position in Cencora in the fourth quarter valued at about $38,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cencora

In other Cencora news, CEO Robert P. Mauch sold 4,968 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $294.11, for a total value of $1,461,138.48. Following the sale, the chief executive officer owned 42,351 shares in the company, valued at $12,455,852.61. This represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Steven H. Collis sold 14,578 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total value of $4,266,543.26. Following the completion of the sale, the chairman owned 309,913 shares in the company, valued at $90,702,237.71. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,125 shares of company stock worth $9,993,789 in the last 90 days. Corporate insiders own 10.80% of the company's stock.

Cencora Stock Up 0.3%

COR traded up $0.99 on Wednesday, hitting $290.69. 816,850 shares of the company were exchanged, compared to its average volume of 1,554,515. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35. The company has a market cap of $56.36 billion, a PE ratio of 29.91, a PEG ratio of 1.37 and a beta of 0.58. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. The stock's fifty day moving average is $293.33 and its 200-day moving average is $281.21.

Cencora (NYSE:COR - Get Free Report) last released 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. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The business had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. During the same quarter in the prior year, the company posted $3.34 earnings per share. Cencora's revenue was up 8.7% on a year-over-year basis. Equities research analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th will be paid a $0.55 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.20 annualized dividend and a yield of 0.8%. Cencora's dividend payout ratio is currently 22.63%.

Analyst Ratings Changes

A number of research analysts have issued reports on COR shares. Robert W. Baird boosted their target price on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Morgan Stanley set a $330.00 target price on Cencora and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company boosted their target price on Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. UBS Group boosted their target price on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, Jefferies Financial Group boosted their price target on Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a report on Monday, June 30th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $311.25.

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.