119,282 Shares in Cencora, Inc. $COR Purchased by Man Group plc

Man Group plc purchased a new stake in shares of Cencora, Inc. (NYSE:COR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 119,282 shares of the company’s stock, valued at approximately $33,754,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in COR. Kemnay Advisory Services Inc. bought a new stake in Cencora during the fourth quarter worth about $25,000. Oakworth Capital Inc. bought a new position in shares of Cencora in the fourth quarter valued at approximately $26,000. Elyxium Wealth LLC bought a new position in shares of Cencora in the fourth quarter valued at approximately $27,000. Elevation Wealth Partners LLC boosted its holdings in shares of Cencora by 506.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock worth $27,000 after acquiring an additional 81 shares in the last quarter. Finally, Archer Investment Corp boosted its holdings in shares of Cencora by 134.3% in the 4th quarter. Archer Investment Corp now owns 82 shares of the company’s stock worth $28,000 after acquiring an additional 47 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

COR has been the topic of a number of research analyst reports. Robert W. Baird set a $370.00 price target on Cencora in a research report on Thursday, August 6th. Citigroup reissued a “buy” rating on shares of Cencora in a research note on Thursday, August 6th. UBS Group increased their target price on Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Morgan Stanley raised their target price on Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Royal Bank Of Canada started coverage on Cencora in a report on Wednesday, August 19th. They issued a “sector perform” rating and a $330.00 price target for the company. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $370.85.

Cencora Price Performance

Shares of COR stock opened at $327.94 on Thursday. The firm has a market cap of $62.58 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.88 and a beta of 0.57. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54. 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 50-day moving average price of $305.39 and a 200 day moving average price of $311.07.

Cencora (NYSE:COR) last released its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.35 by $0.13. The company had revenue of $84.75 billion for the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $4.00 EPS. Research analysts expect that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 14th. Cencora’s payout ratio is 17.83%.

Cencora announced that its Board of Directors has approved a share repurchase program on Thursday, May 21st that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Cencora

In related news, EVP Elizabeth S. Campbell sold 11,300 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the transaction, the executive vice president directly owned 19,455 shares in the company, valued at $6,305,754.60. This represents a 36.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lauren M. Tyler acquired 550 shares of Cencora stock in a transaction on Monday, June 22nd. The stock was acquired at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the purchase, the director owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. The trade was a 14.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate 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.