Resona Asset Management Co. Ltd. Invests $19.05 Million in Cencora, Inc. (NYSE:COR)

Resona Asset Management Co. Ltd. bought a new stake in shares of Cencora, Inc. (NYSE:COR) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 84,708 shares of the company’s stock, valued at approximately $19,050,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. United Bank increased its stake in Cencora by 4.2% during the 3rd quarter. United Bank now owns 5,601 shares of the company’s stock valued at $1,261,000 after buying an additional 225 shares during the period. Public Sector Pension Investment Board increased its stake in shares of Cencora by 53.2% during the third quarter. Public Sector Pension Investment Board now owns 6,908 shares of the company’s stock valued at $1,555,000 after acquiring an additional 2,400 shares during the period. Arete Wealth Advisors LLC raised its holdings in Cencora by 4.9% during the third quarter. Arete Wealth Advisors LLC now owns 2,412 shares of the company’s stock worth $541,000 after purchasing an additional 113 shares in the last quarter. Hilltop Holdings Inc. acquired a new stake in Cencora in the third quarter worth approximately $387,000. Finally, Integrated Wealth Concepts LLC boosted its stake in Cencora by 116.7% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 8,969 shares of the company’s stock valued at $2,019,000 after purchasing an additional 4,831 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Evercore ISI upped their price objective on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company boosted their target price on shares of Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Finally, StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $280.20.

Insiders Place Their Bets

In other Cencora news, Chairman Steven H. Collis sold 14,578 shares of Cencora stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total value of $3,928,916.78. Following the completion of the sale, the chairman now directly owns 317,913 shares in the company, valued at $85,680,732.63. The trade was a 4.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the completion of the sale, the executive vice president now directly owns 14,665 shares of the company’s stock, valued at $3,934,326.20. This represents a 21.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,675 shares of company stock worth $8,034,778 in the last quarter. 10.80% of the stock is currently owned by corporate insiders.

Cencora Price Performance

COR opened at $279.29 on Friday. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $296.65. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The firm has a market capitalization of $54.16 billion, a P/E ratio of 39.73, a PEG ratio of 1.31 and a beta of 0.55. The stock has a fifty day moving average of $257.28 and a 200-day moving average of $242.70.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. Equities analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a yield of 0.79%. Cencora’s dividend payout ratio is presently 31.29%.

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.