Munich Reinsurance Co Stock Corp in Munich Invests $18.97 Million in Cencora, Inc. $COR

Key Points

• Munich Re bought a new stake of 60,705 shares in Cencora (NYSE:COR) during Q3, valued at about $18.97 million.
• Cencora beat Q results on EPS ($4.08 vs. $4.04), saw revenue rise 5.5% year-over-year though slightly missing estimates, and trades with a market cap of $69.64 billion and a P/E of 43.03.
• Analysts’ consensus is a “Moderate Buy” with a $399 price target; institutional ownership is very high (97.52%) while insiders sold roughly 15,220 shares (~$5.28M) in the past three months.

Munich Reinsurance Co Stock Corp in Munich bought a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 60,705 shares of the company's stock, valued at approximately $18,972,000.

A number of other large investors have also bought and sold shares of COR. Mirae Asset Global Investments Co. Ltd. increased its position in Cencora by 13.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,270 shares of the company's stock valued at $15,086,000 after buying an additional 5,543 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in Cencora in the third quarter worth approximately $26,191,000. Acadian Asset Management LLC grew its stake in Cencora by 947.5% in the second quarter. Acadian Asset Management LLC now owns 257,082 shares of the company's stock valued at $77,069,000 after acquiring an additional 232,539 shares during the period. Mediolanum International Funds Ltd grew its stake in Cencora by 133.0% in the third quarter. Mediolanum International Funds Ltd now owns 56,293 shares of the company's stock valued at $17,342,000 after acquiring an additional 32,138 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in shares of Cencora by 40.3% during the third quarter. Advisors Asset Management Inc. now owns 17,302 shares of the company's stock valued at $5,407,000 after acquiring an additional 4,973 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Price Performance

COR opened at $357.98 on Friday. Cencora, Inc. has a 1 year low of $251.94 and a 1 year high of $377.54. The company has a debt-to-equity ratio of 3.62, a current ratio of 0.92 and a quick ratio of 0.51. The company has a market capitalization of $69.64 billion, a price-to-earnings ratio of 43.03, a P/E/G ratio of 1.67 and a beta of 0.68. The firm's fifty day moving average price is $354.16 and its two-hundred day moving average price is $336.16.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The company reported $4.08 earnings per share for the quarter, beating analysts' consensus estimates of $4.04 by $0.04. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The company had revenue of $85.93 billion for the quarter, compared to analyst estimates of $86.12 billion. During the same period last year, the firm earned $3.73 earnings per share. The firm's revenue was up 5.5% on a year-over-year basis. As a group, analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, February 13th. Cencora's dividend payout ratio (DPR) is presently 28.85%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on COR. Weiss Ratings raised Cencora from a "hold (c+)" rating to a "buy (b)" rating in a research report on Thursday, February 5th. Evercore lowered their price objective on shares of Cencora from $440.00 to $420.00 and set an "outperform" rating on the stock in a report on Thursday, February 5th. TD Cowen lifted their price objective on shares of Cencora from $350.00 to $400.00 and gave the company a "buy" rating in a report on Monday, November 10th. Jefferies Financial Group raised shares of Cencora from an "underperform" rating to a "buy" rating in a research report on Thursday, January 22nd. Finally, Barclays upped their target price on shares of Cencora from $400.00 to $425.00 and gave the stock an "overweight" rating in a report on Friday, February 13th. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $399.00.

Insider Buying and Selling

In other Cencora news, EVP Silvana Battaglia sold 1,677 shares of the business's stock in a transaction on Friday, December 19th. The stock was sold at an average price of $345.00, for a total value of $578,565.00. Following the transaction, the executive vice president owned 18,796 shares of the company's stock, valued at approximately $6,484,620. The trade was a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert P. Mauch sold 5,096 shares of the firm's stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $354.73, for a total value of $1,807,704.08. Following the sale, the chief executive officer directly owned 66,726 shares of the company's stock, valued at approximately $23,669,713.98. This represents a 7.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 15,220 shares of company stock worth $5,282,867. 0.38% of the stock is owned by company insiders.

About Cencora

Cencora NYSE: COR is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company's core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.

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