Plato Investment Management Ltd bought a new stake in Cencora, Inc. (NYSE:COR – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,400 shares of the company’s stock, valued at approximately $675,000.
Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Cencora by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 23,617,117 shares of the company’s stock worth $7,976,681,000 after purchasing an additional 221,570 shares in the last quarter. State Street Corp grew its stake in shares of Cencora by 1.3% in the 4th quarter. State Street Corp now owns 9,305,507 shares of the company’s stock valued at $3,142,935,000 after buying an additional 115,191 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Cencora by 160.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock valued at $2,262,956,000 after buying an additional 4,123,795 shares in the last quarter. Geode Capital Management LLC increased its holdings in Cencora by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 5,459,476 shares of the company’s stock worth $1,843,268,000 after buying an additional 169,055 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Cencora by 6.5% during the fourth quarter. JPMorgan Chase & Co. now owns 4,982,557 shares of the company’s stock valued at $1,682,859,000 after acquiring an additional 304,760 shares in the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.
Cencora Stock Up 1.2%
COR opened at $316.38 on Wednesday. The business has a 50 day moving average of $300.49 and a 200-day moving average of $312.40. The stock has a market capitalization of $60.37 billion, a price-to-earnings ratio of 23.50, a P/E/G ratio of 1.80 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, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54.
Cencora Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, August 14th. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. Cencora’s payout ratio is presently 17.83%.
Cencora declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 21st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to repurchase 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.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. William Blair initiated coverage on shares of Cencora in a research report on Tuesday, April 28th. They issued a “market perform” rating for the company. Wall Street Zen upgraded shares of Cencora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Morgan Stanley increased their target price on shares of Cencora from $342.00 to $346.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. raised their target price on Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Wells Fargo & Company boosted their price target on Cencora from $331.00 to $395.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $374.25.
View Our Latest Stock Analysis on COR
Insider Activity
In related news, Director Lauren M. Tyler acquired 550 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was acquired at an average price of $270.23 per share, with a total value 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 0.38% of the company’s stock.
About Cencora
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.
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