Sumitomo Mitsui Trust Holdings Inc. Purchases Shares of 981,345 Cencora, Inc. (NYSE:COR)

Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Cencora, Inc. (NYSE:COR) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 981,345 shares of the company’s stock, valued at approximately $238,457,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. acquired a new stake in Cencora during the 4th quarter worth $4,212,508,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Cencora in the first quarter valued at approximately $66,911,000. PNC Financial Services Group Inc. purchased a new position in shares of Cencora during the fourth quarter worth approximately $51,339,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Cencora in the 1st quarter valued at $50,337,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Cencora in the 1st quarter valued at $45,692,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on COR shares. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. SVB Leerink reissued an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a research note on Thursday, June 27th. Robert W. Baird boosted their price target on shares of Cencora from $275.00 to $277.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Finally, Citigroup raised their price objective on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $235.30.

Cencora Trading Down 0.0 %

Shares of COR stock opened at $222.50 on Thursday. Cencora, Inc. has a twelve month low of $171.65 and a twelve month high of $246.75. The firm has a 50-day moving average price of $228.24 and a 200 day moving average price of $228.43. The company has a market capitalization of $44.38 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 1.57 and a beta of 0.45. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.41.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, beating analysts’ consensus estimates of $3.65 by $0.15. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The firm had revenue of $68.41 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter last year, the firm earned $3.50 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts forecast that Cencora, Inc. will post 13.44 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Thursday, May 9th. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

Insider Buying and Selling at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the completion of the sale, the insider now owns 24,418,171 shares of the company’s stock, valued at $5,252,836,945.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the completion of the sale, the insider now owns 24,418,171 shares of the company’s stock, valued at $5,252,836,945.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gina Clark sold 1,874 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $223.86, for a total value of $419,513.64. Following the sale, the executive vice president now owns 13,284 shares in the company, valued at $2,973,756.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,956,675 shares of company stock valued at $422,352,056. Company insiders own 15.80% of the company’s stock.

Cencora Company Profile

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.