Plato Investment Management Ltd Takes Position in Cencora, Inc. $COR

Plato Investment Management Ltd bought a new stake in Cencora, Inc. (NYSE:COR) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,400 shares of the company’s stock, valued at approximately $675,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kemnay Advisory Services Inc. acquired a new stake in Cencora during the fourth quarter worth $25,000. Oakworth Capital Inc. bought a new stake in Cencora in the 4th quarter valued at $26,000. Elyxium Wealth LLC acquired a new position in shares of Cencora in the 4th quarter valued at $27,000. Elevation Wealth Partners LLC raised its stake in shares of Cencora by 506.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock valued at $27,000 after buying an additional 81 shares in the last quarter. Finally, Archer Investment Corp lifted its holdings in shares of Cencora by 134.3% during the 4th 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 owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on COR shares. JPMorgan Chase & Co. lifted their target price on shares of Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Citigroup reissued a “buy” rating on shares of Cencora in a research report on Thursday, August 6th. UBS Group raised their price target on shares of Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. William Blair assumed coverage on Cencora in a report on Tuesday, April 28th. They set a “market perform” rating on the stock. Finally, Barclays lowered their price objective on Cencora from $425.00 to $350.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 10th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $374.25.

Insider Buying and Selling

In other news, Director Lauren M. Tyler bought 550 shares of the stock in a transaction dated Monday, June 22nd. The stock was bought at an average cost of $270.23 per share, with a total value of $148,626.50. Following the purchase, 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 filing with the SEC, which is available at the SEC website. Insiders own 0.38% of the company’s stock.

Cencora Trading Up 1.2%

Shares of NYSE COR opened at $316.38 on Wednesday. Cencora, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54. The company has a 50-day moving average of $300.49 and a two-hundred day moving average of $312.40. The company has a market cap of $60.37 billion, a PE 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 (NYSE:COR) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, beating the consensus estimate of $4.35 by $0.13. The business had revenue of $84.75 billion for the quarter, compared to analysts’ expectations of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. Cencora’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.00 earnings per share. As a group, equities analysts expect that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, August 14th. Cencora’s dividend payout ratio (DPR) is presently 17.83%.

Cencora declared that its board has initiated a stock repurchase plan on Thursday, May 21st that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire 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.

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.