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

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Kemnay Advisory Services Inc. acquired a new stake in shares of Cencora in the fourth quarter valued at about $25,000. Elyxium Wealth LLC bought a new position in shares of Cencora during the fourth quarter worth about $27,000. Elevation Wealth Partners LLC lifted its stake in shares of Cencora by 506.2% in the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock worth $27,000 after acquiring an additional 81 shares during the period. Bell Investment Advisors Inc acquired a new position in shares of Cencora in the second quarter worth approximately $28,000. Finally, Caitlin John LLC bought a new stake in Cencora in the second quarter valued at approximately $28,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Price Performance

Shares of NYSE COR opened at $322.12 on Friday. The firm has a market capitalization of $61.47 billion, a P/E ratio of 23.93, a P/E/G ratio of 1.85 and a beta of 0.57. The firm’s 50-day moving average price is $307.38 and its 200-day moving average price is $310.88. 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.

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

Cencora Announces Dividend

The company 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 yield of 0.7%. The ex-dividend date of this dividend is Friday, August 14th. Cencora’s dividend payout ratio (DPR) is 17.83%.

Cencora announced that its board has approved a stock repurchase program on Thursday, May 21st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on COR shares. Royal Bank Of Canada assumed coverage on shares of Cencora in a research report on Wednesday, August 19th. They set a “sector perform” rating and a $330.00 target price for the company. Morgan Stanley upped their price objective on shares of Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. JPMorgan Chase & Co. increased 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. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, 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. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and a consensus price target of $370.85.

Insider Activity at Cencora

In other Cencora news, Director Lauren M. Tyler purchased 550 shares of Cencora stock in a transaction that occurred 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 transaction, the director owned 4,359 shares in the company, valued at $1,177,932.57. This trade represents a 14.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the sale, the executive vice president owned 19,455 shares of the company’s stock, valued at $6,305,754.60. This trade represents a 36.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.38% of the company’s stock.

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.