The Manufacturers Life Insurance Company Purchases 18,935 Shares of Cencora, Inc. (NYSE:COR)

The Manufacturers Life Insurance Company raised its position in shares of Cencora, Inc. (NYSE:COR) by 4.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 489,238 shares of the company’s stock after purchasing an additional 18,935 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Cencora were worth $110,225,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. MBB Public Markets I LLC lifted its stake in shares of Cencora by 920.0% during the 2nd quarter. MBB Public Markets I LLC now owns 12,648 shares of the company’s stock valued at $2,850,000 after buying an additional 11,408 shares in the last quarter. Dark Forest Capital Management LP raised its holdings in Cencora by 60.0% during the second quarter. Dark Forest Capital Management LP now owns 5,101 shares of the company’s stock valued at $1,149,000 after acquiring an additional 1,912 shares during the period. Drucker Wealth 3.0 LLC purchased a new position in shares of Cencora in the second quarter valued at about $1,187,000. AQR Capital Management LLC boosted its stake in shares of Cencora by 17.2% in the second quarter. AQR Capital Management LLC now owns 1,084,603 shares of the company’s stock worth $244,361,000 after acquiring an additional 158,967 shares during the period. Finally, AXA S.A. grew its position in shares of Cencora by 47.0% during the second quarter. AXA S.A. now owns 251,781 shares of the company’s stock worth $56,726,000 after purchasing an additional 80,540 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Cencora Stock Up 0.4 %

Shares of NYSE COR opened at $224.87 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. Cencora, Inc. has a 12-month low of $178.21 and a 12-month high of $247.66. The firm’s 50-day moving average price is $234.94 and its 200-day moving average price is $232.82. The stock has a market capitalization of $44.85 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 1.58 and a beta of 0.44.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.16. The company had revenue of $74.20 billion for the quarter, compared to analysts’ expectations of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.92 earnings per share. On average, equities research analysts anticipate that Cencora, Inc. will post 13.63 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a $0.51 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.91%. Cencora’s dividend payout ratio is presently 22.32%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on COR shares. Bank of America reissued a “neutral” rating and issued a $245.00 price target (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Leerink Partners reissued an “outperform” rating and issued a $275.00 target price on shares of Cencora in a report on Thursday, June 27th. Wells Fargo & Company raised their target price on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. boosted their price target on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $256.67.

Insiders Place Their Bets

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the sale, the insider now owns 19,980,000 shares of the company’s stock, valued at $4,806,388,800. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 19,980,000 shares in the company, valued at $4,806,388,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven H. Collis sold 10,755 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the completion of the sale, the chief executive officer now owns 285,088 shares in the company, valued at $63,323,746.56. The disclosure for this sale can be found here. Insiders sold 4,450,399 shares of company stock valued at $1,070,392,799 over the last three months. 15.80% of the stock is owned by company insiders.

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.