Flputnam Investment Management Co. Makes New $1.90 Million Investment in Cencora, Inc. $COR

Key Points

• Flputnam Investment Management initiated a $1.90 million position in Cencora during the second quarter by purchasing 6,711 shares. Institutional investors collectively own 97.52% of the company.
• Cencora exceeded quarterly earnings and revenue expectations, reporting $4.48 in EPS and $84.75 billion in revenue, with revenue up 5.1% year over year.
• The company authorized a $2 billion share-repurchase plan and declared a quarterly dividend of $0.60 per share, while analysts maintain a “Moderate Buy” consensus with an average price target of $374.25.

Flputnam Investment Management Co. bought a new stake in Cencora, Inc. (NYSE:COR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,711 shares of the company's stock, valued at approximately $1,899,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Kemnay Advisory Services Inc. acquired a new position in shares of Cencora during the fourth quarter worth $25,000. Oakworth Capital Inc. purchased a new stake in Cencora during the 4th quarter worth $26,000. Elyxium Wealth LLC acquired a new position in Cencora in the 4th quarter worth $27,000. Archer Investment Corp lifted its holdings in Cencora by 134.3% in the 4th quarter. Archer Investment Corp now owns 82 shares of the company's stock worth $28,000 after buying an additional 47 shares in the last quarter. Finally, Motiv8 Investments LLC purchased a new position in Cencora in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 97.52% of the company's stock.

Cencora Price Performance

Shares of NYSE COR opened at $312.51 on Tuesday. Cencora, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54. 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 business's fifty day moving average price is $299.75 and its two-hundred day moving average price is $312.64. The firm has a market capitalization of $59.64 billion, a PE ratio of 23.22, a P/E/G ratio of 1.80 and a beta of 0.57.

Cencora (NYSE:COR - Get Free Report) last posted 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 analysts' expectations of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.The firm's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $4.00 earnings per share. On average, research analysts expect that Cencora, Inc. will post 17.84 EPS for the current year.

Cencora announced that its Board of Directors has authorized a stock repurchase plan on Thursday, May 21st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 3.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

Cencora Announces Dividend

The firm also recently declared 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, August 14th. Cencora's payout ratio is 17.83%.

Insider Buying and Selling at Cencora

In other Cencora news, Director Lauren M. Tyler acquired 550 shares of Cencora stock in a transaction dated 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 transaction, the director owned 4,359 shares in the company, valued at approximately $1,177,932.57. This represents a 14.44% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on COR shares. Robert W. Baird set a $370.00 price target on Cencora in a report on Thursday, August 6th. Barclays cut their target price on Cencora from $425.00 to $350.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 10th. Bank of America increased their target price on Cencora from $280.00 to $285.00 and gave the company a "neutral" rating in a research note on Wednesday, June 24th. Citigroup restated a "buy" rating on shares of Cencora in a research note on Thursday, August 6th. Finally, Evercore reaffirmed an "outperform" rating and issued a $350.00 price target on shares of Cencora in a report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Cencora has an average rating of "Moderate Buy" and an average target price of $374.25.

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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