MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Invests $13.09 Million in Cencora, Inc. (NYSE:COR)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in Cencora, Inc. (NYSE:COR) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 53,869 shares of the company’s stock, valued at approximately $13,090,000.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. purchased a new position in Cencora during the fourth quarter worth about $4,212,508,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Cencora in the 1st quarter worth $66,911,000. PNC Financial Services Group Inc. bought a new stake in shares of Cencora during the 4th quarter worth $51,339,000. Allspring Global Investments Holdings LLC purchased a new stake in Cencora during the first quarter valued at about $50,337,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Cencora in the 1st quarter worth about $45,692,000. 97.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Citigroup lifted their target price on shares of Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Robert W. Baird increased their price target on shares of Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Finally, SVB Leerink reissued an “outperform” rating and issued a $275.00 target price on shares of Cencora in a research note on Thursday, June 27th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cencora has a consensus rating of “Moderate Buy” and a consensus price target of $235.30.

Cencora Stock Down 0.5 %

Shares of COR traded down $1.02 on Tuesday, reaching $222.51. The stock had a trading volume of 1,455,291 shares, compared to its average volume of 1,410,140. The firm has a market capitalization of $44.38 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 1.57 and a beta of 0.45. The company has a 50-day simple moving average of $228.85 and a 200-day simple moving average of $228.32. Cencora, Inc. has a 12-month low of $171.65 and a 12-month high of $246.75. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.53 and a current ratio of 0.89.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, beating analysts’ consensus estimates of $3.65 by $0.15. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The business had revenue of $68.41 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter last year, the firm earned $3.50 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts predict that Cencora, Inc. will post 13.44 EPS for the current year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 0.92%. The ex-dividend date was Thursday, May 9th. Cencora’s dividend payout ratio (DPR) is 22.32%.

Insiders Place Their Bets

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the completion of the sale, the insider now owns 24,418,171 shares of the company’s stock, valued at $5,252,836,945.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of Cencora stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total value of $399,991,976.80. Following the completion of the sale, the insider now directly owns 24,418,171 shares in the company, valued at $5,252,836,945.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert P. Mauch sold 57,564 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $235.09, for a total transaction of $13,532,720.76. Following the transaction, the chief operating officer now owns 24,412 shares in the company, valued at approximately $5,739,017.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,956,675 shares of company stock valued at $422,352,056. Insiders own 15.80% of the company’s stock.

Cencora Company 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.