JPMorgan Chase & Co. Buys 821,098 Shares of Cencora, Inc. $COR

JPMorgan Chase & Co. lifted its stake in Cencora, Inc. (NYSE:COR) by 21.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,677,797 shares of the company’s stock after buying an additional 821,098 shares during the quarter. JPMorgan Chase & Co. owned about 2.41% of Cencora worth $1,461,965,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Cencora by 13.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,270 shares of the company’s stock worth $15,086,000 after acquiring an additional 5,543 shares during the period. Acadian Asset Management LLC lifted its holdings in Cencora by 947.5% in the 2nd quarter. Acadian Asset Management LLC now owns 257,082 shares of the company’s stock worth $77,069,000 after purchasing an additional 232,539 shares in the last quarter. Mediolanum International Funds Ltd boosted its stake in Cencora by 133.0% in the 3rd quarter. Mediolanum International Funds Ltd now owns 56,293 shares of the company’s stock worth $17,342,000 after purchasing an additional 32,138 shares during the period. Segment Wealth Management LLC bought a new position in Cencora in the 3rd quarter worth approximately $4,830,000. Finally, Advisors Asset Management Inc. grew its holdings in Cencora by 40.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 17,302 shares of the company’s stock valued at $5,407,000 after buying an additional 4,973 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on COR. UBS Group boosted their target price on shares of Cencora from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Friday, November 7th. JPMorgan Chase & Co. increased their price objective on shares of Cencora from $417.00 to $419.00 and gave the company an “overweight” rating in a report on Tuesday, February 10th. Mizuho raised their price objective on Cencora from $340.00 to $380.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Wells Fargo & Company boosted their target price on Cencora from $405.00 to $429.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Finally, TD Cowen raised their price target on Cencora from $350.00 to $400.00 and gave the company a “buy” rating in a report on Monday, November 10th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Cencora presently has an average rating of “Moderate Buy” and a consensus price target of $399.00.

Insider Buying and Selling

In other news, EVP Silvana Battaglia sold 1,677 shares of the stock in a transaction on Friday, December 19th. The shares were sold at an average price of $345.00, for a total value of $578,565.00. Following the sale, the executive vice president owned 18,796 shares of the company’s stock, valued at approximately $6,484,620. This represents a 8.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert P. Mauch sold 5,096 shares of Cencora stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $354.73, for a total transaction of $1,807,704.08. Following the transaction, the chief executive officer directly owned 66,726 shares of the company’s stock, valued at approximately $23,669,713.98. This represents a 7.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 15,220 shares of company stock worth $5,282,867 over the last three months. 0.38% of the stock is owned by insiders.

Cencora Stock Up 2.7%

Shares of NYSE COR opened at $360.59 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.51 and a debt-to-equity ratio of 3.62. Cencora, Inc. has a 12-month low of $237.71 and a 12-month high of $377.54. The firm’s 50-day moving average price is $347.97 and its 200-day moving average price is $329.40. The stock has a market capitalization of $70.15 billion, a price-to-earnings ratio of 43.34, a P/E/G ratio of 1.66 and a beta of 0.68.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $4.04 by $0.04. The company had revenue of $85.93 billion for the quarter, compared to analysts’ expectations of $86.12 billion. Cencora had a return on equity of 176.54% and a net margin of 0.50%.The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.73 earnings per share. On average, equities research analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, February 13th. Cencora’s dividend payout ratio is presently 28.85%.

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.