Vanguard Group Inc. Has $5.94 Billion Stock Holdings in Cencora, Inc. (NYSE:COR)

Key Points

• Vanguard Group Inc. has increased its ownership stake in Cencora, Inc. to 21,353,380 shares, which amounts to a value of approximately $5.94 billion, representing 11.01% of the company's total shares.
• In Q1 2023, multiple institutional investors also adjusted their stakes in Cencora, with hedge funds collectively owning 97.52% of the company's stock.
• Cencora recently reported earnings of $4.00 per share, exceeding analyst estimates, alongside a dividend announcement of $0.55 per share scheduled for September 3rd.

Vanguard Group Inc. lifted its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 0.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,353,380 shares of the company's stock after purchasing an additional 51,402 shares during the period. Vanguard Group Inc. owned about 11.01% of Cencora worth $5,938,161,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of COR. Bank of America Corp DE lifted its holdings in Cencora by 62.3% during the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock worth $1,166,944,000 after buying an additional 1,994,256 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in shares of Cencora during the 4th quarter valued at approximately $399,508,000. GAMMA Investing LLC raised its position in shares of Cencora by 43,561.9% during the 1st quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company's stock valued at $444,516,000 after acquiring an additional 1,594,800 shares in the last quarter. Close Asset Management Ltd bought a new position in Cencora during the first quarter worth $110,629,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Cencora by 67.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 844,179 shares of the company's stock worth $189,670,000 after purchasing an additional 340,862 shares during the period. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 14,578 shares of the stock in a transaction 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 transaction, the chairman directly owned 309,913 shares of the company's stock, valued at approximately $90,702,237.71. This trade represents a 4.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert P. Mauch sold 4,968 shares of the business's stock in a transaction 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 completion of the sale, the chief executive officer directly owned 42,351 shares in the company, valued at $12,455,852.61. This represents a 10.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,125 shares of company stock worth $9,993,789. 10.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Jefferies Financial Group increased their target price on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Robert W. Baird boosted their price objective 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. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. UBS Group upped their target price on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Finally, Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $309.83.

Cencora Stock Performance

Shares of COR traded up $7.06 during mid-day trading on Friday, reaching $285.46. 1,106,201 shares of the company's stock traded hands, compared to its average volume of 1,099,116. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.52 and a current ratio of 0.90. The business's 50-day moving average price is $292.51 and its 200-day moving average price is $277.58. The stock has a market capitalization of $55.33 billion, a P/E ratio of 29.37, a price-to-earnings-growth ratio of 1.36 and a beta of 0.58. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35.

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

Cencora Dividend Announcement

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

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.