Meiji Yasuda Life Insurance Co Has $1.07 Million Stake in Cencora, Inc. $COR

Meiji Yasuda Life Insurance Co lifted its stake in Cencora, Inc. (NYSE:COR) by 180.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,798 shares of the company’s stock after buying an additional 2,446 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Cencora were worth $1,075,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in COR. BlackRock Inc. acquired a new position in Cencora in the 2nd quarter valued at $5,154,136,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of Cencora by 160.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock worth $2,262,956,000 after purchasing an additional 4,123,795 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Cencora in the second quarter worth $1,056,625,000. Norges Bank bought a new position in shares of Cencora in the fourth quarter worth $822,506,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Cencora in the second quarter valued at about $483,772,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

COR has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Barclays decreased their target price on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating on the stock in a report on Wednesday, June 10th. Wells Fargo & Company upped their price target on shares of Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Morgan Stanley increased their price target on shares of Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Evercore reissued an “outperform” rating and issued a $350.00 price objective on shares of Cencora in a research note on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Cencora presently has an average rating of “Moderate Buy” and a consensus price target of $370.85.

Insiders Place Their Bets

In other news, Director Lauren M. Tyler bought 550 shares of the stock in a transaction on Monday, June 22nd. The stock was acquired at an average price of $270.23 per share, with a total value of $148,626.50. Following the acquisition, the director directly owned 4,359 shares in the company, valued at approximately $1,177,932.57. This trade 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 is available through this hyperlink. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the 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 completion of the transaction, the executive vice president owned 19,455 shares of the company’s stock, valued at $6,305,754.60. This represents a 36.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.38% of the stock is currently owned by corporate insiders.

Cencora Trading Up 0.3%

Shares of Cencora stock opened at $322.12 on Friday. The firm has a market capitalization of $61.47 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 1.85 and a beta of 0.57. 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 firm’s 50 day moving average is $307.38 and its 200 day moving average is $310.88. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54.

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

Cencora Announces Dividend

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 paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, August 14th. Cencora’s dividend payout ratio is presently 17.83%.

Cencora declared that its Board of Directors has initiated a share repurchase plan 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors 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.