Elo Mutual Pension Insurance Co Buys 557 Shares of Cencora, Inc. (NYSE:COR)

Elo Mutual Pension Insurance Co lifted its stake in shares of Cencora, Inc. (NYSE:COR) by 3.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,146 shares of the company’s stock after acquiring an additional 557 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Cencora were worth $3,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Financial Advocates Investment Management raised its position in shares of Cencora by 4.7% during the second quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock worth $220,000 after acquiring an additional 44 shares during the last quarter. Checchi Capital Advisers LLC raised its position in shares of Cencora by 2.2% during the second quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock worth $499,000 after acquiring an additional 48 shares during the last quarter. Valeo Financial Advisors LLC raised its position in shares of Cencora by 3.4% during the second quarter. Valeo Financial Advisors LLC now owns 1,566 shares of the company’s stock worth $353,000 after acquiring an additional 51 shares during the last quarter. Barlow Wealth Partners Inc. raised its position in shares of Cencora by 5.4% during the second quarter. Barlow Wealth Partners Inc. now owns 1,339 shares of the company’s stock worth $303,000 after acquiring an additional 68 shares during the last quarter. Finally, Tevis Investment Management raised its position in shares of Cencora by 4.9% during the second quarter. Tevis Investment Management now owns 1,476 shares of the company’s stock worth $333,000 after acquiring an additional 69 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Bank of America reaffirmed a “neutral” rating and set a $245.00 target price (down previously from $275.00) on shares of Cencora in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. StockNews.com raised Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Robert W. Baird decreased their target price on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. Finally, Leerink Partners reaffirmed an “outperform” rating and set a $275.00 target price on shares of Cencora in a research note on Thursday, June 27th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $256.67.

Insider Activity

In other news, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the transaction, the executive vice president now owns 10,948 shares in the company, valued at $2,656,970.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’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 value of $1,067,646,415.76. Following the transaction, the insider now owns 19,980,000 shares in the company, valued at $4,806,388,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the sale, the executive vice president now owns 10,948 shares in the company, valued at $2,656,970.12. The disclosure for this sale can be found here. Insiders have sold 4,450,399 shares of company stock worth $1,070,392,799 over the last 90 days. 15.80% of the stock is currently owned by corporate insiders.

Cencora Trading Down 2.6 %

Shares of Cencora stock opened at $228.48 on Thursday. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. Cencora, Inc. has a 52 week low of $178.21 and a 52 week high of $247.66. The stock has a 50 day moving average price of $234.64 and a two-hundred day moving average price of $233.23. The stock has a market capitalization of $45.57 billion, a PE ratio of 25.00, a price-to-earnings-growth ratio of 1.55 and a beta of 0.44.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.16. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The company had revenue of $74.20 billion for the quarter, compared to analyst estimates of $73.32 billion. During the same quarter last year, the company earned $2.92 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities analysts anticipate that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a $0.51 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.89%. Cencora’s dividend payout ratio is presently 22.32%.

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.