Northwestern Mutual Wealth Management Co. Takes Position in Cencora, Inc. $COR

Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,427 shares of the company’s stock, valued at approximately $7,195,000.

Other hedge funds also recently added to or reduced their stakes in the company. CFO4Life Group LLC bought a new position in Cencora in the 2nd quarter valued at approximately $366,000. Quantbot Technologies LP bought a new stake in shares of Cencora in the 2nd quarter worth $3,957,000. Evolve Private Wealth LLC purchased a new position in shares of Cencora in the second quarter worth $1,043,000. W1M Asset Management Ltd purchased a new position in shares of Cencora in the second quarter worth $340,000. Finally, Varma Mutual Pension Insurance Co bought a new position in shares of Cencora during the second quarter valued at $13,477,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Stock Performance

COR stock opened at $317.89 on Monday. The company has a market cap of $60.66 billion, a P/E ratio of 23.62, a price-to-earnings-growth ratio of 1.83 and a beta of 0.57. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. The stock’s fifty day moving average price is $302.59 and its 200-day moving average price is $311.52.

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

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, August 14th. Cencora’s payout ratio is 17.83%.

Cencora announced that its board has approved a stock repurchase program on Thursday, May 21st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Barclays dropped their price objective on Cencora from $425.00 to $350.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 10th. Morgan Stanley boosted their target price on Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Evercore reaffirmed an “outperform” rating and set a $350.00 price target on shares of Cencora in a report on Thursday, August 6th. Finally, William Blair began coverage on shares of Cencora in a research note on Tuesday, April 28th. They issued a “market perform” rating for the company. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and an average target price of $370.85.

Insider Buying and Selling

In other Cencora news, Director Lauren M. Tyler bought 550 shares of Cencora stock in a transaction on Monday, June 22nd. The stock was acquired at an average cost of $270.23 per share, with a total value of $148,626.50. Following the completion of the acquisition, the director owned 4,359 shares in the company, valued at approximately $1,177,932.57. This represents a 14.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

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.