Sumitomo Mitsui DS Asset Management Company Ltd Boosts Position in Cencora, Inc. $COR

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Cencora, Inc. by 10.2%, now holding 31,794 shares valued at approximately $9.53 million.
• Institutional investors own 97.52% of Cencora's stock, with several major firms—such as Price T Rowe Associates and Invesco—boosting their positions significantly in recent quarters.
• Cencora recently announced a quarterly dividend of $0.55, reflecting an annualized dividend yield of 0.8%.

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 10.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,794 shares of the company's stock after buying an additional 2,948 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Cencora were worth $9,533,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its position in shares of Cencora by 8.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company's stock worth $2,682,821,000 after buying an additional 787,858 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Cencora by 7.2% during the first quarter. Wellington Management Group LLP now owns 5,421,262 shares of the company's stock worth $1,507,599,000 after buying an additional 363,402 shares in the last quarter. Boston Partners grew its position in shares of Cencora by 8.1% during the first quarter. Boston Partners now owns 5,411,193 shares of the company's stock worth $1,505,984,000 after buying an additional 404,093 shares in the last quarter. Invesco Ltd. grew its position in shares of Cencora by 42.1% during the first quarter. Invesco Ltd. now owns 4,607,964 shares of the company's stock worth $1,281,429,000 after buying an additional 1,364,433 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Cencora by 9.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,711,281 shares of the company's stock worth $475,890,000 after buying an additional 154,311 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Insiders Place Their Bets

In related news, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction dated 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 $12,455,852.61. The trade was a 10.50% 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, Chairman Steven H. Collis sold 31,350 shares of Cencora stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the sale, the chairman owned 305,913 shares in the company, valued at approximately $88,671,942.18. This represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,475 shares of company stock worth $19,080,900 over the last quarter. 10.80% of the stock is currently owned by company insiders.

Cencora Stock Performance

COR stock opened at $290.82 on Friday. 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 has a market capitalization of $56.38 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 1.37 and a beta of 0.62. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35. The stock's fifty day moving average is $292.52 and its two-hundred day moving average is $286.56.

Cencora (NYSE:COR - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.79 by $0.21. The company had revenue of $80.66 billion for the quarter, compared to analysts' expectations of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The firm's quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the business posted $3.34 earnings per share. On average, research analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, August 15th. Cencora's dividend payout ratio (DPR) is presently 22.63%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. Wells Fargo & Company raised their price objective on Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Finally, Morgan Stanley set a $330.00 price objective on Cencora and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.

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