Wellington Management Group LLP Reduces Holdings in Cencora, Inc. (NYSE:COR)

Wellington Management Group LLP reduced its position in Cencora, Inc. (NYSE:COR) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,057,860 shares of the company’s stock after selling 135,526 shares during the period. Wellington Management Group LLP owned approximately 2.61% of Cencora worth $1,136,400,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Norges Bank purchased a new position in Cencora in the fourth quarter valued at about $478,309,000. Raymond James Financial Inc. acquired a new stake in shares of Cencora during the fourth quarter worth approximately $322,460,000. Amundi increased its stake in shares of Cencora by 30.8% in the fourth quarter. Amundi now owns 1,338,710 shares of the company’s stock worth $318,385,000 after buying an additional 314,846 shares during the last quarter. Nordea Investment Management AB raised its holdings in Cencora by 40.2% in the fourth quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock valued at $243,173,000 after acquiring an additional 308,773 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in Cencora by 21.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock valued at $368,771,000 after acquiring an additional 292,600 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Performance

COR stock opened at $275.16 on Monday. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $275.57. The stock has a market capitalization of $53.36 billion, a price-to-earnings ratio of 39.14, a PEG ratio of 1.31 and a beta of 0.51. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. The stock’s fifty day moving average is $253.81 and its two-hundred day moving average is $241.24.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. On average, research analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s payout ratio is currently 31.29%.

Wall Street Analyst Weigh In

COR has been the subject of several research analyst reports. Mizuho initiated coverage on shares of Cencora in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price for the company. StockNews.com upgraded Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Evercore ISI lifted their target price on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company upped their price target on Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $280.20.

Insiders Place Their Bets

In other news, Chairman Steven H. Collis sold 14,578 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total value of $3,928,916.78. Following the completion of the sale, the chairman now directly owns 317,913 shares of the company’s stock, valued at approximately $85,680,732.63. This represents a 4.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Silvana Battaglia sold 5,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the transaction, the executive vice president now owns 15,374 shares of the company’s stock, valued at $3,724,197.76. This trade represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,675 shares of company stock worth $8,034,778. 10.80% of the stock is 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.