Amundi reduced its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 30.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,553,260 shares of the company's stock after selling 677,101 shares during the period. Amundi owned 0.80% of Cencora worth $487,941,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. increased its stake in 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 worth $2,262,956,000 after buying an additional 4,123,795 shares in the last quarter. Norges Bank purchased a new position in Cencora in the 4th quarter worth approximately $822,506,000. Marshall Wace LLP increased its holdings in Cencora by 518.9% in the 3rd quarter. Marshall Wace LLP now owns 1,995,118 shares of the company's stock valued at $623,534,000 after acquiring an additional 1,672,762 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Cencora by 528.9% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,475,859 shares of the company's stock worth $461,250,000 after purchasing an additional 1,241,186 shares in the last quarter. Finally, Viking Global Investors LP lifted its stake in Cencora by 95.0% in the 2nd quarter. Viking Global Investors LP now owns 2,081,732 shares of the company's stock worth $624,207,000 after purchasing an additional 1,013,913 shares in the last quarter. Institutional investors own 97.52% of the company's stock.
Insider Transactions at Cencora
In other news, Director Lauren M. Tyler acquired 550 shares of the company'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 Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on COR shares. Wells Fargo & Company cut their price objective on Cencora from $429.00 to $331.00 and set an "overweight" rating for the company in a research report on Monday, May 11th. Morgan Stanley set a $342.00 target price on Cencora in a research report on Friday, May 8th. William Blair began coverage on Cencora in a research note on Tuesday, April 28th. They set a "market perform" rating for the company. Evercore set a $360.00 price target on Cencora in a research note on Wednesday, April 8th. Finally, UBS Group raised their price target on Cencora from $410.00 to $412.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $367.75.
Read Our Latest Research Report on Cencora
Cencora Stock Performance
Cencora stock opened at $318.54 on Thursday. The company has a debt-to-equity ratio of 3.40, a current ratio of 0.95 and a quick ratio of 0.59. The firm has a market capitalization of $61.97 billion, a P/E ratio of 24.43, a price-to-earnings-growth ratio of 1.77 and a beta of 0.58. Cencora, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54. The company's 50-day moving average is $287.66 and its 200 day moving average is $315.79.
Cencora (NYSE:COR - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $4.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($0.07). The business had revenue of $78.36 billion for the quarter, compared to analysts' expectations of $81.09 billion. Cencora had a net margin of 0.78% and a return on equity of 135.20%. The firm's quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $4.42 EPS. Cencora has set its FY 2026 guidance at 17.650-17.900 EPS. Research analysts forecast that Cencora, Inc. will post 17.79 EPS for the current year.
Cencora announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 21st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.
Cencora Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a $0.60 dividend. The ex-dividend date was Friday, May 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. Cencora's payout ratio is presently 18.40%.
Cencora Company Profile
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Free Report)
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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