Mitsubishi UFJ Asset Management Co. Ltd. Raises Position in Cencora, Inc. (NYSE:COR)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Cencora, Inc. (NYSE:COR) by 7.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 278,286 shares of the company’s stock after acquiring an additional 19,544 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.14% of Cencora worth $63,783,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Hickory Asset Management Inc. bought a new position in Cencora in the fourth quarter worth $572,000. Sylvest Advisors LLC purchased a new stake in shares of Cencora in the 4th quarter worth about $1,105,000. Insight Wealth Strategies LLC increased its stake in shares of Cencora by 124.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 20,249 shares of the company’s stock worth $4,549,000 after acquiring an additional 11,232 shares in the last quarter. Vontobel Holding Ltd. lifted its position in Cencora by 46.9% during the 4th quarter. Vontobel Holding Ltd. now owns 6,245 shares of the company’s stock valued at $1,403,000 after acquiring an additional 1,995 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in Cencora by 71.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,048 shares of the company’s stock worth $1,583,000 after acquiring an additional 2,928 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Evercore ISI lifted their price objective on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Wells Fargo & Company lifted their price target on Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Finally, Mizuho started coverage on shares of Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective on the stock. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $280.20.

Cencora Stock Performance

Shares of COR stock opened at $275.16 on Friday. The firm has a market capitalization of $53.36 billion, a PE ratio of 39.14, a P/E/G ratio of 1.31 and a beta of 0.51. The company has a 50 day moving average price of $253.81 and a 200-day moving average price of $241.18. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $275.57. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. As a group, equities research analysts expect 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 was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s dividend payout ratio is 31.29%.

Insiders Place Their Bets

In related news, EVP Silvana Battaglia sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the transaction, the executive vice president now owns 15,374 shares of the company’s stock, valued at approximately $3,724,197.76. This trade represents a 24.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert P. Mauch sold 4,970 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $255.00, for a total transaction of $1,267,350.00. Following the sale, the chief executive officer now directly owns 51,070 shares of the company’s stock, valued at approximately $13,022,850. This represents a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,675 shares of company stock valued at $8,034,778. Insiders own 10.80% of the company’s stock.

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.