Northwestern Mutual Wealth Management Co. Decreases Stock Position in Cencora, Inc. $COR

Northwestern Mutual Wealth Management Co. trimmed its stake in shares of Cencora, Inc. (NYSE:COR) by 7.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 25,427 shares of the company’s stock after selling 2,113 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Cencora were worth $7,195,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Cencora in the 2nd quarter valued at about $5,154,136,000. T. Rowe Price Investment Management Inc. raised its holdings in Cencora by 160.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock valued at $2,262,956,000 after acquiring an additional 4,123,795 shares in the last quarter. Bank of America Corp DE purchased a new position in Cencora in the second quarter worth approximately $1,056,625,000. Norges Bank purchased a new position in Cencora in the fourth quarter worth approximately $822,506,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Cencora during the 2nd quarter worth approximately $483,772,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Activity at Cencora

In other news, EVP Elizabeth S. Campbell sold 11,300 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $324.12, for a total value of $3,662,556.00. Following the transaction, the executive vice president owned 19,455 shares of the company’s stock, valued at approximately $6,305,754.60. The trade was a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lauren M. Tyler bought 550 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was bought at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the acquisition, the director owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.38% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on COR. Morgan Stanley increased their price objective on shares of Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Barclays dropped their target price on Cencora from $425.00 to $350.00 and set an “overweight” rating on the stock in a report on Wednesday, June 10th. Robert W. Baird set a $370.00 target price on Cencora in a research note on Thursday, August 6th. JPMorgan Chase & Co. upped their target price on shares of Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Bank of America raised their price objective on Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $370.85.

Cencora Stock Up 1.8%

Shares of NYSE:COR opened at $336.98 on Thursday. Cencora, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. The stock has a market cap of $64.30 billion, a P/E ratio of 25.04, a P/E/G ratio of 1.88 and a beta of 0.57. The firm has a fifty day moving average price of $310.47 and a 200 day moving average price of $309.90.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, beating analysts’ consensus estimates of $4.35 by $0.13. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The business had revenue of $84.75 billion during the quarter, compared to analysts’ expectations of $84.31 billion. During the same period in the prior year, the company earned $4.00 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. Sell-side analysts predict that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora declared that its Board of Directors has approved a share buyback program on Thursday, May 21st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.7%. Cencora’s dividend payout ratio is currently 17.83%.

Cencora Company Profile

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.