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

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Cencora, Inc. (NYSE:COR) during the second quarter, Holdings Channel.com reports. The fund acquired 1,709,563 shares of the company’s stock, valued at approximately $483,772,000.

Other institutional investors have also made changes to their positions in the company. Accent Capital Management LLC grew its holdings in Cencora by 36.1% during the 4th quarter. Accent Capital Management LLC now owns 113 shares of the company’s stock valued at $38,000 after purchasing an additional 30 shares in the last quarter. MCF Advisors LLC lifted its holdings in Cencora by 11.0% in the 4th quarter. MCF Advisors LLC now owns 303 shares of the company’s stock worth $102,000 after buying an additional 30 shares in the last quarter. CYBER HORNET ETFs LLC lifted its holdings in Cencora by 6.8% in the 4th quarter. CYBER HORNET ETFs LLC now owns 485 shares of the company’s stock worth $164,000 after buying an additional 31 shares in the last quarter. Steph & Co. boosted its position in Cencora by 23.5% in the 1st quarter. Steph & Co. now owns 168 shares of the company’s stock valued at $53,000 after buying an additional 32 shares during the last quarter. Finally, Beacon Pointe Advisors LLC boosted its position in Cencora by 1.1% in the 4th quarter. Beacon Pointe Advisors LLC now owns 3,492 shares of the company’s stock valued at $1,180,000 after buying an additional 37 shares during the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Citigroup reaffirmed a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. Robert W. Baird set a $370.00 price objective on Cencora in a report on Thursday, August 6th. Evercore reiterated an “outperform” rating and set a $350.00 target price on shares of Cencora in a research note on Thursday, August 6th. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, William Blair assumed coverage on shares of Cencora in a research note on Tuesday, April 28th. They issued a “market perform” rating for the company. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $374.25.

Cencora Stock Performance

Shares of COR stock opened at $312.51 on Tuesday. The stock has a market capitalization of $59.64 billion, a price-to-earnings ratio of 23.22, a PEG ratio of 1.80 and a beta of 0.57. Cencora, Inc. has a one year low of $244.82 and a one year high of $377.54. The company’s 50-day simple moving average is $299.75 and its 200-day simple moving average is $312.64. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93.

Cencora (NYSE:COR) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $84.31 billion. During the same period in the previous year, the company earned $4.00 earnings per share. Cencora’s quarterly revenue was up 5.1% on a year-over-year basis. Equities analysts anticipate that Cencora, Inc. will post 17.84 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, August 14th. Cencora’s payout ratio is 17.83%.

Cencora declared that its board has approved a share repurchase program on Thursday, May 21st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Cencora

In other news, Director Lauren M. Tyler purchased 550 shares of the stock in a transaction dated Monday, June 22nd. The stock was acquired at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the acquisition, the director owned 4,359 shares of the company’s stock, valued at $1,177,932.57. The trade was a 14.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company 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.