Sompo Asset Management Co. Ltd. Lowers Holdings in Cencora, Inc. (NYSE:COR)

Sompo Asset Management Co. Ltd. decreased its holdings in Cencora, Inc. (NYSE:COR) by 7.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,520 shares of the company’s stock after selling 130 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Cencora were worth $342,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in COR. Vanguard Group Inc. purchased a new position in shares of Cencora in the fourth quarter valued at approximately $4,212,508,000. Price T Rowe Associates Inc. MD purchased a new position in Cencora in the first quarter worth approximately $2,183,619,000. JPMorgan Chase & Co. purchased a new position in Cencora in the first quarter worth approximately $1,199,695,000. Boston Partners purchased a new position in Cencora in the first quarter worth approximately $1,001,269,000. Finally, Capital Research Global Investors purchased a new position in Cencora in the first quarter worth approximately $650,424,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lifted 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. Leerink Partners reiterated an “outperform” rating and issued a $275.00 price target on shares of Cencora in a research note on Thursday, June 27th. Bank of America reiterated a “neutral” rating and issued a $245.00 price target (down previously from $275.00) on shares of Cencora in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Robert W. Baird cut their price objective on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Cencora has an average rating of “Moderate Buy” and an average target price of $256.67.

Insider Buying and Selling at Cencora

In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total value of $2,388,900.60. Following 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 filing with the Securities & Exchange Commission, which is accessible through this link. In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total value of $2,388,900.60. Following 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the transaction, the insider now directly owns 19,980,000 shares in the company, valued at $4,806,388,800. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,450,399 shares of company stock valued at $1,070,392,799. 15.80% of the stock is owned by company insiders.

Cencora Stock Performance

Shares of Cencora stock opened at $228.11 on Friday. The firm’s fifty day simple moving average is $234.84 and its 200-day simple moving average is $233.11. The stock has a market capitalization of $45.50 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 1.55 and a beta of 0.44. Cencora, Inc. has a 12 month low of $178.21 and a 12 month high of $247.66. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55.

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

Cencora Announces Dividend

The firm 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 of this dividend was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.89%. Cencora’s payout ratio is 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.