Mitsubishi UFJ Asset Management Co. Ltd. Takes $483.77 Million Position in Cencora, Inc. $COR

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Cencora, Inc. (NYSE:COR) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,709,563 shares of the company’s stock, valued at approximately $483,772,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.88% of Cencora at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new stake in Cencora in the fourth quarter valued at approximately $25,000. Oakworth Capital Inc. purchased a new position in Cencora during the fourth quarter worth approximately $26,000. Elyxium Wealth LLC acquired a new position in shares of Cencora in the 4th quarter valued at $27,000. Elevation Wealth Partners LLC boosted its holdings in shares of Cencora by 506.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock valued at $27,000 after purchasing an additional 81 shares during the last quarter. Finally, Archer Investment Corp grew its stake in shares of Cencora by 134.3% during the 4th quarter. Archer Investment Corp now owns 82 shares of the company’s stock valued at $28,000 after buying an additional 47 shares during the period. 97.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on COR shares. Barclays dropped their price objective on Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a report on Wednesday, June 10th. Bank of America lifted their target price on Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, June 24th. Wall Street Zen raised Cencora from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Wells Fargo & Company upped their price target on Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Finally, Morgan Stanley raised their price objective on Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $374.25.

Cencora Price Performance

Cencora stock opened at $312.51 on Tuesday. Cencora, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54. The firm has a fifty day moving average of $299.75 and a 200-day moving average of $312.64. The firm has a market capitalization of $59.64 billion, a P/E ratio of 23.22, a PEG ratio of 1.80 and a beta of 0.57. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53.

Cencora (NYSE:COR) last posted its 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 net margin of 0.79% and a return on equity of 125.45%. The business had revenue of $84.75 billion for the quarter, compared to analyst estimates of $84.31 billion. During the same quarter in the previous year, the business posted $4.00 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, analysts predict that Cencora, Inc. will post 17.84 EPS for the current year.

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 given a $0.60 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.8%. Cencora’s dividend payout ratio (DPR) is 17.83%.

Cencora announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 21st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity at Cencora

In related news, Director Lauren M. Tyler bought 550 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was bought at an average price of $270.23 per share, with a total value of $148,626.50. Following the completion of the transaction, the director directly owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. This represents a 14.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

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.