UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Holdings in Cencora, Inc. $COR

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Cencora, Inc. (NYSE:COR) by 5.7% during the second quarter, Holdings Channel.com reports. The fund owned 1,708,377 shares of the company’s stock after acquiring an additional 91,814 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Cencora were worth $483,437,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in COR. Kemnay Advisory Services Inc. bought a new stake in shares of Cencora during the 4th quarter valued at $25,000. Elyxium Wealth LLC purchased a new stake in Cencora in the 4th quarter worth $27,000. Elevation Wealth Partners LLC raised its holdings in Cencora by 506.2% during the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock valued at $27,000 after acquiring an additional 81 shares during the period. Bell Investment Advisors Inc bought a new stake in Cencora during the second quarter valued at about $28,000. Finally, Caitlin John LLC purchased a new position in shares of Cencora in the second quarter valued at about $28,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Transactions at Cencora

In related news, Director Lauren M. Tyler purchased 550 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the transaction, the director owned 4,359 shares in the company, valued at approximately $1,177,932.57. The trade was a 14.44% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the business’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 value of $3,662,556.00. Following the sale, the executive vice president directly owned 19,455 shares in the company, valued at $6,305,754.60. The trade was a 36.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on COR. Robert W. Baird set a $370.00 price objective on Cencora in a research note on Thursday, August 6th. Weiss Ratings raised Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Morgan Stanley boosted their price target on Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Barclays dropped their price target on Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Finally, Evercore reiterated an “outperform” rating and set a $350.00 price objective on shares of Cencora in a research report on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and a consensus price target of $370.85.

Cencora Stock Up 0.0%

Shares of COR opened at $322.12 on Monday. The stock has a market capitalization of $61.47 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 1.85 and a beta of 0.57. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. The business’s 50 day simple moving average is $307.38 and its 200-day simple moving average is $310.51. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58.

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

Cencora announced that its board has authorized a stock buyback plan on Thursday, May 21st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders 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 of this dividend is Friday, August 14th. Cencora’s dividend payout ratio (DPR) is presently 17.83%.

Cencora Company Profile

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.