Meiji Yasuda Asset Management Co Ltd. Increases Position in Cencora, Inc. (NYSE:COR)

Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Cencora, Inc. (NYSE:COR) by 19.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 5,014 shares of the company’s stock after buying an additional 800 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Cencora were worth $1,130,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of COR. Vanguard Group Inc. purchased a new position in Cencora during the fourth quarter worth approximately $4,212,508,000. Price T Rowe Associates Inc. MD purchased a new position in Cencora during the first quarter worth approximately $2,183,619,000. JPMorgan Chase & Co. purchased a new position in Cencora during the first quarter worth approximately $1,199,695,000. Boston Partners purchased a new position in Cencora during the first quarter worth approximately $1,001,269,000. Finally, Capital Research Global Investors purchased a new position in Cencora during the first quarter worth approximately $650,424,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Price Performance

COR opened at $226.56 on Friday. The firm has a market cap of $45.19 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 1.55 and a beta of 0.44. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. Cencora, Inc. has a twelve month low of $178.21 and a twelve month high of $247.66. The company has a fifty day simple moving average of $234.73 and a 200 day simple moving average of $233.18.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.16. The company had revenue of $74.20 billion during the quarter, compared to analyst estimates of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the business earned $2.92 EPS. Equities research analysts expect that Cencora, Inc. will post 13.63 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Friday, August 9th. Cencora’s dividend payout ratio is currently 22.32%.

Insiders Place Their Bets

In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the completion of the transaction, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value of $357,482.37. Following the transaction, the executive vice president now directly owns 10,948 shares in the company, valued at approximately $2,656,970.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the completion of the transaction, the chief executive officer now owns 285,088 shares in the company, valued at $63,323,746.56. The disclosure for this sale can be found here. Insiders sold a total of 4,450,399 shares of company stock valued at $1,070,392,799 in the last ninety days. Corporate insiders own 15.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on COR shares. Wells Fargo & Company increased their price target on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. increased their price objective on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Leerink Partners reissued an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a research report on Thursday, June 27th. Bank of America reissued a “neutral” rating and issued a $245.00 price objective (down previously from $275.00) on shares of Cencora in a research report on Wednesday. Finally, StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Three equities research 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 company. Based on data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and an average target price of $256.67.

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.