Close Asset Management Ltd Purchases Shares of 397,895 Cencora, Inc. (NYSE:COR)

Close Asset Management Ltd purchased a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 397,895 shares of the company's stock, valued at approximately $110,629,000. Cencora comprises approximately 3.2% of Close Asset Management Ltd's portfolio, making the stock its 11th biggest holding. Close Asset Management Ltd owned approximately 0.21% of Cencora as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of COR. LPL Financial LLC boosted its position in shares of Cencora by 7.6% during the 4th quarter. LPL Financial LLC now owns 188,828 shares of the company's stock valued at $42,426,000 after acquiring an additional 13,417 shares during the last quarter. TIAA Trust National Association boosted its position in shares of Cencora by 1.7% during the 4th quarter. TIAA Trust National Association now owns 73,312 shares of the company's stock valued at $16,472,000 after acquiring an additional 1,204 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Cencora by 2.0% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,245 shares of the company's stock valued at $1,178,000 after acquiring an additional 105 shares during the last quarter. Korea Investment CORP boosted its position in shares of Cencora by 5.3% during the 4th quarter. Korea Investment CORP now owns 130,637 shares of the company's stock valued at $29,352,000 after acquiring an additional 6,600 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Cencora by 7.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 278,286 shares of the company's stock valued at $63,783,000 after acquiring an additional 19,544 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wells Fargo & Company raised shares of Cencora from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $274.00 to $337.00 in a research report on Tuesday, June 3rd. UBS Group upped their target price on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Citigroup upped their target price on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Jefferies Financial Group upped their target price on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Finally, Robert W. Baird upped their target price on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $309.83.

Insider Buying and Selling

In related news, CEO Robert P. Mauch sold 4,968 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the sale, the chief executive officer directly owned 42,351 shares in the company, valued at approximately $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 accessible through the SEC website. Also, Chairman Steven H. Collis sold 14,578 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total transaction of $4,266,543.26. Following the completion of the transaction, the chairman owned 309,913 shares in the company, valued at $90,702,237.71. This represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,125 shares of company stock worth $9,993,789 over the last 90 days. Insiders own 10.80% of the company's stock.

Cencora Trading Down 0.1%

NYSE:COR traded down $0.28 on Friday, reaching $290.17. 785,267 shares of the company's stock were exchanged, compared to its average volume of 1,072,635. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01. The firm has a market capitalization of $56.24 billion, a price-to-earnings ratio of 33.66, a price-to-earnings-growth ratio of 1.44 and a beta of 0.57. The business has a fifty day moving average of $293.31 and a 200-day moving average of $274.27. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $309.35.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.07 by $0.35. The company had revenue of $75.50 billion for the quarter, compared to analyst estimates 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 prior year, the firm earned $3.80 earnings per share. As a group, analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.76%. Cencora's payout ratio is 25.52%.

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.