Man Group plc Purchases Shares of 119,282 Cencora, Inc. $COR

Man Group plc purchased a new stake in Cencora, Inc. (NYSE:COR) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 119,282 shares of the company’s stock, valued at approximately $33,754,000. Man Group plc owned about 0.06% of Cencora as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in COR. Kemnay Advisory Services Inc. bought a new position in Cencora in the 4th quarter worth approximately $25,000. Oakworth Capital Inc. acquired a new stake in shares of Cencora in the fourth quarter worth $26,000. Elyxium Wealth LLC acquired a new stake in shares of Cencora in the fourth quarter worth $27,000. Elevation Wealth Partners LLC increased its position in Cencora by 506.2% during 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 during the period. Finally, Archer Investment Corp increased its position in Cencora by 134.3% during 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 period. 97.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on COR. JPMorgan Chase & Co. increased their price target on shares of Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Royal Bank Of Canada started coverage on shares of Cencora in a report on Wednesday, August 19th. They set a “sector perform” rating and a $330.00 price objective on the stock. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Morgan Stanley upped their price objective on shares of Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, UBS Group increased their target price on shares of Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $370.85.

Insider Transactions at Cencora

In other news, EVP Elizabeth S. Campbell sold 11,300 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $324.12, for a total value of $3,662,556.00. Following the completion of the transaction, the executive vice president directly owned 19,455 shares of the company’s stock, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lauren M. Tyler bought 550 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were bought at an average price of $270.23 per share, with a total value of $148,626.50. Following the transaction, the director directly owned 4,359 shares in the company, valued at $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.38% of the stock is owned by company insiders.

Cencora Trading Down 0.0%

Shares of Cencora stock opened at $327.94 on Thursday. Cencora, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54. The firm has a market capitalization of $62.58 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 1.88 and a beta of 0.57. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. The company’s fifty day moving average price is $305.39 and its two-hundred day moving average price is $311.07.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping analysts’ consensus estimates of $4.35 by $0.13. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The company had revenue of $84.75 billion during the quarter, compared to the consensus estimate of $84.31 billion. During the same period last year, the firm earned $4.00 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, 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. Shareholders of record on Friday, August 14th will be paid 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 yield of 0.7%. Cencora’s dividend payout ratio (DPR) is currently 17.83%.

Cencora declared that its board has initiated a stock 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 stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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.