Wellington Management Group LLP Raises Stock Holdings in Cencora, Inc. $COR

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

A number of other institutional investors have also recently made changes to their positions in the stock. Kingsview Wealth Management LLC bought a new stake in shares of Cencora in the second quarter worth approximately $488,000. Beacon Pointe Advisors LLC purchased a new position in shares of Cencora during the second quarter valued at approximately $1,419,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Cencora during the second quarter valued at approximately $17,566,000. Empowered Funds LLC purchased a new stake in Cencora in the second quarter worth approximately $7,055,000. Finally, United Capital Financial Advisors LLC purchased a new stake in Cencora in the second quarter worth approximately $2,373,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Stock Up 0.3%

COR 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. Cencora, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54. The company has a market capitalization of $61.47 billion, a PE ratio of 23.93, a PEG ratio of 1.84 and a beta of 0.57. The firm’s 50 day simple moving average is $307.38 and its two-hundred day simple moving average is $310.88.

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

Cencora declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 21st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Cencora Announces Dividend

The business 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. The ex-dividend date is Friday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.7%. Cencora’s payout ratio is 17.83%.

Insider Activity

In related news, Director Lauren M. Tyler acquired 550 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were purchased at an average price of $270.23 per share, with a total value of $148,626.50. Following the completion of the purchase, the director directly owned 4,359 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth S. Campbell sold 11,300 shares of Cencora stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the transaction, the executive vice president directly owned 19,455 shares in the company, valued at approximately $6,305,754.60. The trade was a 36.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Barclays cut their target price on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. Robert W. Baird set a $370.00 price target on Cencora in a research note on Thursday, August 6th. Citigroup reaffirmed a “buy” rating on shares of Cencora in a report on Thursday, August 6th. Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings raised Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $370.85.

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.