55,453 Shares in Cencora, Inc. $COR Purchased by Daiichi Life Insurance Co. Ltd.

Daiichi Life Insurance Co. Ltd. purchased a new stake in shares of Cencora, Inc. (NYSE:COR) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 55,453 shares of the company’s stock, valued at approximately $15,692,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Cencora by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 23,617,117 shares of the company’s stock worth $7,976,681,000 after acquiring an additional 221,570 shares during the period. BlackRock Inc. acquired a new stake in shares of Cencora during the 2nd quarter worth approximately $5,154,136,000. State Street Corp increased its position in shares of Cencora by 1.3% during the fourth quarter. State Street Corp now owns 9,305,507 shares of the company’s stock valued at $3,142,935,000 after purchasing an additional 115,191 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of Cencora by 160.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock valued at $2,262,956,000 after purchasing an additional 4,123,795 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Cencora by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 5,459,476 shares of the company’s stock valued at $1,843,268,000 after purchasing an additional 169,055 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Lauren M. Tyler bought 550 shares of Cencora stock in a transaction dated Monday, June 22nd. The shares were bought at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the purchase, the director owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

COR has been the subject of several research reports. UBS Group raised their target price on Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Citigroup reissued a “buy” rating on shares of Cencora in a report on Thursday, August 6th. Weiss Ratings upgraded shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Wells Fargo & Company raised their price objective on shares of Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $370.85.

Cencora Trading Up 1.0%

Shares of COR opened at $317.89 on Friday. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53. The stock has a 50 day simple moving average of $302.59 and a 200-day simple moving average of $311.89. The stock has a market cap of $60.66 billion, a PE ratio of 23.62, a PEG ratio of 1.83 and a beta of 0.57.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping the consensus estimate of $4.35 by $0.13. The business had revenue of $84.75 billion during the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.Cencora’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $4.00 EPS. On average, sell-side analysts predict that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 21st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to purchase up to 3.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. Cencora’s dividend payout ratio (DPR) is presently 17.83%.

About Cencora

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.