Nuveen LLC Makes New Investment in Cencora, Inc. (NYSE:COR)

Key Points

• Nuveen LLC has acquired a new position in Cencora, Inc., purchasing 651,889 shares valued at approximately $181.28 million, representing about 0.34% ownership in the company.
• Cencora reported earnings of $4.00 per share for its latest quarter, exceeding analysts' expectations and reflecting an 8.7% increase in quarterly revenue year-over-year.
• The company recently announced a quarterly dividend of $0.55 per share, which will be paid to stockholders on September 3rd, representing a 0.8% dividend yield.

Nuveen LLC acquired a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 651,889 shares of the company's stock, valued at approximately $181,284,000. Nuveen LLC owned about 0.34% of Cencora at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Bernard Wealth Management Corp. purchased a new position in shares of Cencora during the fourth quarter valued at approximately $67,000. Rockefeller Capital Management L.P. boosted its position in shares of Cencora by 22.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 142,650 shares of the company's stock valued at $32,051,000 after buying an additional 26,530 shares during the period. Sagespring Wealth Partners LLC purchased a new position in shares of Cencora during the fourth quarter valued at approximately $374,000. Advisors Capital Management LLC boosted its position in shares of Cencora by 2.1% during the fourth quarter. Advisors Capital Management LLC now owns 2,514 shares of the company's stock valued at $565,000 after buying an additional 51 shares during the period. Finally, Synovus Financial Corp boosted its position in shares of Cencora by 9.0% during the fourth quarter. Synovus Financial Corp now owns 17,658 shares of the company's stock valued at $3,967,000 after buying an additional 1,459 shares during the period. 97.52% of the stock is owned by institutional investors.

Cencora Stock Performance

Shares of NYSE:COR opened at $290.78 on Tuesday. The company has a market capitalization of $56.36 billion, a price-to-earnings ratio of 29.92, a price-to-earnings-growth ratio of 1.35 and a beta of 0.58. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. The firm has a 50 day moving average of $292.48 and a 200 day moving average of $278.30.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. The business had revenue of $80.66 billion for the quarter, compared to the consensus estimate of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%. The business's quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.34 earnings per share. On average, sell-side analysts predict 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 will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.8%. Cencora's dividend payout ratio is presently 22.63%.

Insiders Place Their Bets

In other news, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the transaction, the chairman directly owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. This represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert P. Mauch sold 4,968 shares of the company's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $294.11, for a total value of $1,461,138.48. Following the completion of the transaction, the chief executive officer directly owned 42,351 shares in the company, valued at approximately $12,455,852.61. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,125 shares of company stock worth $9,993,789. Insiders own 10.80% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Citigroup boosted their target price on Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $274.00 to $337.00 in a research report on Tuesday, June 3rd. 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. Morgan Stanley set a $330.00 price target on Cencora and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Finally, UBS Group boosted their price target on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Cencora presently has an average rating of "Moderate Buy" and an average price target of $309.83.

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.

Want to see what other hedge funds are holding COR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cencora, Inc. (NYSE:COR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.