Meiji Yasuda Asset Management Co Ltd. Reduces Holdings in Cencora, Inc. $COR

Meiji Yasuda Asset Management Co Ltd. cut its position in shares of Cencora, Inc. (NYSE:COR) by 33.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,456 shares of the company’s stock after selling 6,641 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Cencora were worth $4,205,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. IAG Wealth Partners LLC bought a new position in shares of Cencora in the third quarter worth about $30,000. Cloud Capital Management LLC purchased a new stake in Cencora in the 3rd quarter valued at about $31,000. Caitlin John LLC bought a new position in Cencora in the 3rd quarter worth about $31,000. Vermillion & White Wealth Management Group LLC grew its stake in Cencora by 69.4% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 105 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares in the last quarter. Finally, Westside Investment Management Inc. lifted its holdings in shares of Cencora by 200.0% in the 3rd quarter. Westside Investment Management Inc. now owns 105 shares of the company’s stock worth $33,000 after buying an additional 70 shares during the period. Institutional investors own 97.52% of the company’s stock.

Insider Transactions at Cencora

In related news, CEO Robert P. Mauch sold 5,096 shares of the stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $354.73, for a total value of $1,807,704.08. Following the transaction, the chief executive officer owned 66,726 shares in the company, valued at approximately $23,669,713.98. This represents a 7.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Elizabeth S. Campbell sold 3,351 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $342.10, for a total transaction of $1,146,377.10. Following the completion of the sale, the executive vice president owned 23,891 shares in the company, valued at $8,173,111.10. The trade was a 12.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 15,220 shares of company stock worth $5,282,867 over the last three months. 0.38% of the stock is currently owned by insiders.

Analyst Ratings Changes

COR has been the topic of a number of recent research reports. Wall Street Zen downgraded Cencora from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. TD Cowen increased their price objective on shares of Cencora from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, November 10th. JPMorgan Chase & Co. boosted their price objective on shares of Cencora from $417.00 to $419.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Jefferies Financial Group upgraded Cencora from an “underperform” rating to a “buy” rating in a report on Thursday, January 22nd. Finally, Robert W. Baird set a $415.00 target price on Cencora in a research report on Tuesday, January 13th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $399.00.

Cencora Stock Performance

Shares of Cencora stock opened at $357.98 on Monday. The company has a 50 day moving average price of $354.16 and a 200 day moving average price of $336.68. The firm has a market capitalization of $69.64 billion, a P/E ratio of 43.03, a PEG ratio of 1.67 and a beta of 0.68. The company has a quick ratio of 0.51, a current ratio of 0.92 and a debt-to-equity ratio of 3.62. Cencora, Inc. has a 52 week low of $251.94 and a 52 week high of $377.54.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $4.08 EPS for the quarter, topping the consensus estimate of $4.04 by $0.04. The business had revenue of $85.93 billion during the quarter, compared to the consensus estimate of $86.12 billion. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.73 earnings per share. Sell-side analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. Cencora’s dividend payout ratio is currently 28.85%.

About Cencora

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.