80,388 Shares in Cencora, Inc. $COR Bought by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC bought a new position in Cencora, Inc. (NYSE:COR) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 80,388 shares of the company’s stock, valued at approximately $22,748,000.

Other large investors also recently bought and sold shares of the company. Kemnay Advisory Services Inc. bought a new position in shares of Cencora during the fourth quarter valued at approximately $25,000. Oakworth Capital Inc. bought a new position in Cencora during the 4th quarter valued at approximately $26,000. Elyxium Wealth LLC purchased a new position in Cencora during the fourth quarter valued at $27,000. Elevation Wealth Partners LLC boosted its holdings in 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 in the last quarter. Finally, Archer Investment Corp grew its stake in shares of Cencora by 134.3% in the fourth quarter. Archer Investment Corp now owns 82 shares of the company’s stock worth $28,000 after acquiring an additional 47 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Lauren M. Tyler bought 550 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were bought at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the transaction, the director owned 4,359 shares of the company’s stock, valued at approximately $1,177,932.57. This represents a 14.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

COR has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Evercore reissued an “outperform” rating and set a $350.00 price objective on shares of Cencora in a research report on Thursday, August 6th. Robert W. Baird set a $370.00 price objective on Cencora in a research note on Thursday, August 6th. JPMorgan Chase & Co. boosted their price objective on Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, William Blair assumed coverage on shares of Cencora in a research note on Tuesday, April 28th. They set a “market perform” rating on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $370.85.

Cencora Trading Up 1.7%

Shares of COR opened at $323.56 on Tuesday. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. The company has a 50 day simple moving average of $303.43 and a two-hundred day simple moving average of $311.25. The firm has a market cap of $61.75 billion, a P/E ratio of 24.04, a price-to-earnings-growth ratio of 1.83 and a beta of 0.57.

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

Cencora declared that its board has authorized a share buyback plan on Thursday, May 21st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 3.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. Cencora’s dividend payout ratio (DPR) is presently 17.83%.

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.