Acadian Asset Management LLC Invests $87.66 Million in Cencora, Inc. (NYSE:COR)

Acadian Asset Management LLC purchased a new position in Cencora, Inc. (NYSE:COR) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 360,823 shares of the company’s stock, valued at approximately $87,661,000.

Several other hedge funds have also recently modified their holdings of the business. TIAA Trust National Association purchased a new stake in shares of Cencora in the 1st quarter worth approximately $506,000. Intech Investment Management LLC purchased a new stake in Cencora during the first quarter valued at approximately $15,645,000. JPMorgan Chase & Co. purchased a new stake in Cencora during the first quarter valued at approximately $1,199,695,000. Nicolet Advisory Services LLC purchased a new stake in Cencora during the first quarter valued at approximately $698,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Cencora during the first quarter valued at approximately $58,546,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Stock Performance

Shares of NYSE:COR traded down $0.11 during midday trading on Friday, reaching $223.60. The company’s stock had a trading volume of 1,357,117 shares, compared to its average volume of 1,543,746. The firm has a market capitalization of $44.60 billion, a PE ratio of 24.46, a P/E/G ratio of 1.55 and a beta of 0.45. Cencora, Inc. has a twelve month low of $171.65 and a twelve month high of $246.75. The stock has a fifty day moving average of $226.58 and a 200 day moving average of $230.09. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 3.41.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, topping analysts’ consensus estimates of $3.65 by $0.15. The firm had revenue of $68.41 billion for the quarter, compared to analyst estimates of $70.60 billion. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.50 earnings per share. On average, equities analysts expect that Cencora, Inc. will post 13.46 EPS for the current fiscal year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a $0.51 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.91%. Cencora’s payout ratio is currently 22.32%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. SVB Leerink reissued an “outperform” rating and set a $275.00 target price on shares of Cencora in a research report on Thursday, June 27th. Citigroup increased their target price 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. StockNews.com cut shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Finally, Robert W. Baird increased their target price on shares of Cencora from $280.00 to $285.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Cencora presently has a consensus rating of “Moderate Buy” and an average target price of $238.78.

Insider Transactions at Cencora

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total value of $399,991,976.80. Following the sale, the insider now owns 24,418,171 shares in the company, valued at $5,252,836,945.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Gina Clark sold 27,093 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $216.07, for a total transaction of $5,853,984.51. Following the sale, the executive vice president now owns 15,158 shares in the company, valued at $3,275,189.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the sale, the insider now owns 24,418,171 shares in the company, valued at approximately $5,252,836,945.52. The disclosure for this sale can be found here. Insiders have sold 1,899,112 shares of company stock worth $408,654,376 over the last 90 days. 15.80% of the stock is currently owned by company insiders.

Cencora 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.