The Manufacturers Life Insurance Company Acquires New Position in Cencora, Inc. $COR

The Manufacturers Life Insurance Company bought a new position in Cencora, Inc. (NYSE:COR - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,108,447 shares of the company's stock, valued at approximately $313,668,000. The Manufacturers Life Insurance Company owned approximately 0.57% of Cencora at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Kemnay Advisory Services Inc. purchased a new stake in shares of Cencora in the fourth quarter worth $25,000. Oakworth Capital Inc. bought a new position in Cencora in the 4th quarter worth $26,000. Elyxium Wealth LLC purchased a new stake in Cencora in the 4th quarter worth $27,000. Elevation Wealth Partners LLC raised its holdings in Cencora by 506.2% during the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company's stock valued at $27,000 after acquiring an additional 81 shares during the period. Finally, Archer Investment Corp lifted its position in shares of Cencora by 134.3% in the fourth quarter. Archer Investment Corp now owns 82 shares of the company's stock valued at $28,000 after acquiring an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Price Performance

NYSE:COR opened at $323.56 on Tuesday. The business's 50-day moving average is $303.43 and its 200 day moving average is $311.25. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54. The company has a market capitalization of $61.75 billion, a P/E ratio of 24.04, a P/E/G 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 - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.35 by $0.13. The business had revenue of $84.75 billion during 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 revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.00 EPS. On average, equities research analysts forecast that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora declared that its board has approved a stock buyback program on Thursday, May 21st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, August 14th. Cencora's payout ratio is currently 17.83%.

Insiders Place Their Bets

In other Cencora news, Director Lauren M. Tyler purchased 550 shares of the firm'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 completion of the purchase, 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. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on COR. JPMorgan Chase & Co. lifted their target price on Cencora from $382.00 to $390.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Bank of America upped their price target on Cencora from $280.00 to $285.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 24th. William Blair began coverage on shares of Cencora in a report on Tuesday, April 28th. They set a "market perform" rating for the company. Morgan Stanley lifted 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, Barclays lowered their target price on shares of Cencora from $425.00 to $350.00 and set an "overweight" rating on the stock in a report on Wednesday, June 10th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Cencora has a consensus rating of "Moderate Buy" and a consensus price target of $370.85.

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.

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