Wellington Management Group LLP Buys 11,149 Shares of Cencora, Inc. $COR

Wellington Management Group LLP lifted its stake in Cencora, Inc. (NYSE:COR) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,559,761 shares of the company’s stock after purchasing an additional 11,149 shares during the period. Wellington Management Group LLP owned 2.39% of Cencora worth $1,290,321,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Cencora in the 2nd quarter worth approximately $5,154,136,000. State Street Corp lifted its stake in shares of Cencora by 1.3% in the 4th 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. boosted 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of Cencora by 3.2% during 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. Finally, JPMorgan Chase & Co. grew its stake in Cencora by 6.5% in the fourth quarter. JPMorgan Chase & Co. now owns 4,982,557 shares of the company’s stock worth $1,682,859,000 after purchasing an additional 304,760 shares during the period. Institutional investors own 97.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on COR shares. Bank of America raised their price objective on Cencora from $280.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday, June 24th. Barclays decreased their price target on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Wells Fargo & Company lifted their price target on shares of Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. UBS Group boosted their price objective on shares of Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Morgan Stanley upped their price objective on shares of Cencora from $342.00 to $346.00 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $370.85.

Insider Transactions at Cencora

In other news, Director Lauren M. Tyler bought 550 shares of the firm’s 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the transaction, the executive vice president owned 19,455 shares in the company, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.38% of the stock is currently owned by company insiders.

Cencora Trading Up 0.3%

Cencora stock opened at $322.12 on Friday. 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 business’s fifty day simple moving average is $307.38 and its two-hundred day simple moving average is $310.88. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54. The company has a market capitalization of $61.47 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 1.84 and a beta of 0.57.

Cencora (NYSE:COR) last released its earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping analysts’ consensus estimates of $4.35 by $0.13. The firm had revenue of $84.75 billion for the quarter, compared to analysts’ expectations of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.00 earnings per share. As a group, equities analysts predict that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently disclosed 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 0.7%. The ex-dividend date of this dividend is Friday, August 14th. Cencora’s dividend payout ratio is 17.83%.

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

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.