New York Life Investment Management LLC Grows Stake in Cencora, Inc. $COR

New York Life Investment Management LLC increased its holdings in Cencora, Inc. (NYSE:COR) by 8.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,079 shares of the company’s stock after buying an additional 2,183 shares during the period. New York Life Investment Management LLC’s holdings in Cencora were worth $8,776,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in COR. Norges Bank purchased a new position in shares of Cencora during the second quarter worth about $695,215,000. Mizuho Markets Americas LLC raised its stake in Cencora by 116.4% in the third quarter. Mizuho Markets Americas LLC now owns 212,800 shares of the company’s stock valued at $66,506,000 after purchasing an additional 1,511,906 shares in the last quarter. Artisan Partners Limited Partnership bought a new stake in Cencora during the second quarter valued at approximately $411,888,000. Vanguard Group Inc. grew its stake in Cencora by 5.3% in the 2nd quarter. Vanguard Group Inc. now owns 22,479,041 shares of the company’s stock worth $6,740,340,000 after buying an additional 1,125,661 shares in the last quarter. Finally, Viking Global Investors LP increased its holdings in shares of Cencora by 95.0% in the 2nd quarter. Viking Global Investors LP now owns 2,081,732 shares of the company’s stock worth $624,207,000 after buying an additional 1,013,913 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

Cencora Price Performance

Shares of Cencora stock opened at $363.70 on Tuesday. The company has a debt-to-equity ratio of 3.62, a current ratio of 0.92 and a quick ratio of 0.51. Cencora, Inc. has a one year low of $237.71 and a one year high of $377.54. The business’s 50 day simple moving average is $345.98 and its two-hundred day simple moving average is $326.90. The stock has a market capitalization of $70.55 billion, a P/E ratio of 43.71, a price-to-earnings-growth ratio of 1.66 and a beta of 0.68.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, February 4th. The company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.04 by $0.04. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The firm had revenue of $85.93 billion for the quarter, compared to analysts’ expectations of $86.12 billion. During the same quarter last year, the business earned $3.73 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. Analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 13th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, February 13th. Cencora’s dividend payout ratio is 28.85%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on COR. Jefferies Financial Group raised shares of Cencora from an “underperform” rating to a “buy” rating in a report on Thursday, January 22nd. Bank of America dropped their price target on Cencora from $380.00 to $360.00 and set a “neutral” rating for the company in a research note on Monday, January 5th. Evercore cut their price objective on Cencora from $440.00 to $420.00 and set an “outperform” rating for the company in a report on Thursday, February 5th. Weiss Ratings raised Cencora from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday. Finally, TD Cowen boosted their target price on Cencora from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $394.75.

Insider Transactions at Cencora

In related news, EVP Elizabeth S. Campbell sold 3,351 shares of the business’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $342.10, for a total transaction of $1,146,377.10. Following the transaction, the executive vice president owned 23,891 shares in the company, valued at $8,173,111.10. The trade was a 12.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Silvana Battaglia sold 1,677 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $345.00, for a total value of $578,565.00. Following the transaction, the executive vice president directly owned 18,796 shares of the company’s stock, valued at $6,484,620. The trade was a 8.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 20,316 shares of company stock worth $7,151,265. Company insiders own 0.38% of the company’s stock.

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.