Cencora, Inc. (NYSE:COR) Stake Boosted by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lifted its stake in Cencora, Inc. (NYSE:COR) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 97,508 shares of the company’s stock after acquiring an additional 1,001 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Cencora were worth $21,969,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rise Advisors LLC purchased a new position in Cencora in the first quarter valued at about $25,000. New Millennium Group LLC bought a new stake in shares of Cencora in the 2nd quarter valued at approximately $26,000. Legacy Bridge LLC acquired a new position in Cencora in the first quarter worth approximately $27,000. TCTC Holdings LLC bought a new position in Cencora during the first quarter valued at approximately $29,000. Finally, TFO Wealth Partners LLC acquired a new stake in Cencora in the first quarter valued at approximately $30,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Price Performance

NYSE COR opened at $236.22 on Thursday. The stock has a 50-day simple moving average of $233.00 and a 200 day simple moving average of $233.22. Cencora, Inc. has a twelve month low of $172.41 and a twelve month high of $247.66. The stock has a market capitalization of $47.11 billion, a PE ratio of 25.84, a P/E/G ratio of 1.54 and a beta of 0.44. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. The company had revenue of $74.20 billion during the quarter, compared to analyst estimates of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.92 earnings per share. Research analysts anticipate that Cencora, Inc. will post 13.61 EPS for the current year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given a $0.51 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.04 annualized dividend and a yield of 0.86%. Cencora’s dividend payout ratio is 22.32%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on COR shares. StockNews.com upgraded shares of Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Wells Fargo & Company raised their target price on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Leerink Partners reiterated an “outperform” rating and set a $275.00 price target on shares of Cencora in a research note on Thursday, June 27th. Finally, Robert W. Baird cut their price objective on Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $258.13.

Insider Transactions at Cencora

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the sale, the insider now directly owns 19,980,000 shares of the company’s stock, valued at $4,806,388,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Silvana Battaglia sold 1,473 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value of $357,482.37. Following the completion of the transaction, the executive vice president now owns 10,948 shares in the company, valued at approximately $2,656,970.12. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the sale, the insider now owns 19,980,000 shares in the company, valued at $4,806,388,800. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,450,399 shares of company stock worth $1,070,392,799. 15.80% of the stock is currently owned by company insiders.

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.