Northwestern Mutual Wealth Management Co. Purchases New Position in Cencora, Inc. $COR

Northwestern Mutual Wealth Management Co. purchased a new position in Cencora, Inc. (NYSE:COR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,427 shares of the company’s stock, valued at approximately $7,195,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Cencora by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 23,617,117 shares of the company’s stock valued at $7,976,681,000 after acquiring an additional 221,570 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Cencora during the 2nd quarter worth approximately $5,154,136,000. State Street Corp raised its position 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 worth $3,142,935,000 after acquiring an additional 115,191 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Cencora by 160.1% in 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 acquiring an additional 4,123,795 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Cencora by 3.2% in the 4th 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 during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COR has been the topic of several research reports. Morgan Stanley lifted their price target on Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Wells Fargo & Company raised their price objective on 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 target price on shares of Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Robert W. Baird set a $370.00 target price on shares of Cencora in a report on Thursday, August 6th. Finally, Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $370.85.

Cencora Stock Performance

Shares of COR opened at $317.89 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 3.53. The stock has a market cap of $60.66 billion, a P/E ratio of 23.62, a P/E/G ratio of 1.83 and a beta of 0.57. The business’s 50 day moving average price is $302.59 and its 200-day moving average price is $311.52. Cencora, Inc. has a 52 week low of $244.82 and a 52 week high of $377.54.

Cencora (NYSE:COR) last posted its quarterly earnings data 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. The company had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $4.00 EPS. Equities research analysts anticipate that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently announced 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 0.8%. The ex-dividend date of this dividend is Friday, August 14th. Cencora’s dividend payout ratio is currently 17.83%.

Cencora announced that its board has authorized a share repurchase plan on Thursday, May 21st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Cencora

In related news, Director Lauren M. Tyler purchased 550 shares of Cencora stock in a transaction dated Monday, June 22nd. The stock was purchased at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the acquisition, the director directly owned 4,359 shares of the company’s stock, valued at $1,177,932.57. The trade was a 14.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is owned by insiders.

Cencora 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.