UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Holdings in Cencora, Inc. $COR

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Cencora, Inc. (NYSE:COR) by 5.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,708,377 shares of the company’s stock after purchasing an additional 91,814 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.90% of Cencora worth $483,437,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. United Bank raised its holdings in Cencora by 4.5% in the second quarter. United Bank now owns 7,032 shares of the company’s stock worth $2,109,000 after buying an additional 305 shares during the last quarter. Nebula Research & Development LLC bought a new position in shares of Cencora in the second quarter worth approximately $595,000. Treasurer of the State of North Carolina grew its holdings in shares of Cencora by 7.9% during the second quarter. Treasurer of the State of North Carolina now owns 85,534 shares of the company’s stock valued at $25,647,000 after buying an additional 6,244 shares during the last quarter. Diversify Advisory Services LLC grew its holdings in shares of Cencora by 94.1% during the second quarter. Diversify Advisory Services LLC now owns 2,585 shares of the company’s stock valued at $747,000 after buying an additional 1,253 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Cencora by 26.0% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 73,452 shares of the company’s stock valued at $22,025,000 after acquiring an additional 15,154 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cencora news, Director Lauren M. Tyler bought 550 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director owned 4,359 shares of the company’s stock, valued at $1,177,932.57. This represents a 14.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the transaction, the executive vice president owned 19,455 shares in the company, valued at $6,305,754.60. The trade was a 36.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.38% of the company’s stock.

Cencora Trading Up 0.0%

NYSE:COR opened at $322.12 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54. The company has a market cap of $61.47 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 1.85 and a beta of 0.57. The company has a 50 day simple moving average of $307.38 and a two-hundred day simple moving average of $310.51.

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

Cencora announced that its board has initiated a stock buyback plan on Thursday, May 21st that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to buy up to 3.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. Cencora’s dividend payout ratio is presently 17.83%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on COR. Evercore restated an “outperform” rating and issued a $350.00 price objective on shares of Cencora in a report on Thursday, August 6th. JPMorgan Chase & Co. lifted their target price on Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Bank of America boosted their price target on Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. Wall Street Zen raised Cencora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Royal Bank Of Canada started coverage on Cencora in a research report on Wednesday, August 19th. They set a “sector perform” rating and a $330.00 price objective on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and an average target price of $370.85.

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.