Manning & Napier Advisors LLC Makes New $22.75 Million Investment in Cencora, Inc. $COR

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

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Accent Capital Management LLC boosted its holdings in Cencora by 36.1% during the 4th quarter. Accent Capital Management LLC now owns 113 shares of the company’s stock valued at $38,000 after acquiring an additional 30 shares during the period. MCF Advisors LLC increased its stake in Cencora by 11.0% in the fourth quarter. MCF Advisors LLC now owns 303 shares of the company’s stock worth $102,000 after purchasing an additional 30 shares during the period. CYBER HORNET ETFs LLC lifted its position in shares of Cencora by 6.8% during the fourth quarter. CYBER HORNET ETFs LLC now owns 485 shares of the company’s stock worth $164,000 after purchasing an additional 31 shares during the last quarter. Steph & Co. boosted its stake in shares of Cencora by 23.5% during the first quarter. Steph & Co. now owns 168 shares of the company’s stock valued at $53,000 after purchasing an additional 32 shares during the period. Finally, Beacon Pointe Advisors LLC grew its holdings in shares of Cencora by 1.1% in the fourth quarter. Beacon Pointe Advisors LLC now owns 3,492 shares of the company’s stock worth $1,180,000 after purchasing an additional 37 shares during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on COR. Barclays lowered their price objective on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. Evercore reaffirmed an “outperform” rating and set a $350.00 price target on shares of Cencora in a research note on Thursday, August 6th. 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. Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, UBS Group lifted their target price on Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $370.85.

Insider Activity at Cencora

In other news, Director Lauren M. Tyler purchased 550 shares of the stock in a transaction dated Monday, June 22nd. The shares were acquired at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the acquisition, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.38% of the company’s stock.

Cencora Stock Up 1.7%

Shares of NYSE COR opened at $323.56 on Tuesday. Cencora, Inc. has a 12-month low of $244.82 and a 12-month high of $377.54. The stock’s fifty day simple moving average is $303.43 and its two-hundred day simple moving average is $311.25. The stock has a market capitalization of $61.75 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 1.83 and a beta of 0.57. 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 (NYSE:COR) last released its quarterly 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. The firm had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.00 EPS. As a group, analysts expect that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora Announces Dividend

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

Cencora announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 21st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.