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Resona Asset Management Co. Ltd. Has $24.38 Million Stock Holdings in Cencora, Inc. (NYSE:COR)

Cencora logo with Medical background

Key Points

  • Resona Asset Management Co. Ltd. increased its stake in Cencora, Inc. by 3.6% in the first quarter, now holding 87,761 shares valued at $24.38 million.
  • Cencora reported $4.00 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $3.79, with an 8.7% year-over-year revenue increase to $80.66 billion.
  • The company has announced a $0.55 quarterly dividend, resulting in an annualized payout of $2.20 and a dividend yield of 0.8%, with an ex-dividend date of August 15th.
  • Want stock alerts on Cencora? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Resona Asset Management Co. Ltd. boosted its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 3.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 87,761 shares of the company's stock after acquiring an additional 3,053 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Cencora were worth $24,380,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in COR. Bernard Wealth Management Corp. acquired a new stake in Cencora during the fourth quarter worth about $67,000. Sagespring Wealth Partners LLC purchased a new stake in Cencora during the 4th quarter worth approximately $374,000. Advisors Capital Management LLC boosted its position in Cencora by 2.1% in the 4th 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. Mariner LLC boosted its holdings in Cencora by 3.6% in the fourth quarter. Mariner LLC now owns 56,412 shares of the company's stock valued at $12,675,000 after purchasing an additional 1,969 shares during the period. Finally, CreativeOne Wealth LLC grew its stake in Cencora by 6.0% during the 4th quarter. CreativeOne Wealth LLC now owns 5,708 shares of the company's stock worth $1,282,000 after purchasing an additional 322 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Jefferies Financial Group increased their price objective 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. Citigroup boosted their target price on 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 set a $354.00 target price on shares of Cencora and gave the company an "overweight" rating in a report on Wednesday. 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 report on Tuesday, April 29th. 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 report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $311.25.

Read Our Latest Stock Analysis on COR

Insider Activity

In other Cencora news, Chairman Steven H. Collis sold 14,578 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $292.67, for a total transaction of $4,266,543.26. Following the completion of the sale, the chairman owned 309,913 shares of the company's stock, valued at $90,702,237.71. This represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 directly owned 42,351 shares of the company's stock, valued at $12,455,852.61. The trade was a 10.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,125 shares of company stock worth $9,993,789. Corporate insiders own 10.80% of the company's stock.

Cencora Stock Performance

Shares of COR stock traded down $1.59 during mid-day trading on Friday, hitting $293.28. The stock had a trading volume of 1,109,030 shares, compared to its average volume of 1,568,991. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35. The firm has a market cap of $56.84 billion, a PE ratio of 30.17, a PEG ratio of 1.38 and a beta of 0.58. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. The company's 50-day simple moving average is $292.70 and its 200-day simple moving average is $279.00.

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 during the quarter, compared to analyst estimates of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The business's revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.34 earnings per share. Sell-side analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

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

Cencora Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cencora (NYSE:COR)

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