Bank of New York Mellon Corp Has $322.98 Million Stock Holdings in Cencora, Inc. $COR

Key Points

• Bank of New York Mellon trimmed its Cencora stake by 2.4% in the first quarter but still held 1,028,152 shares valued at about $322.98 million.
• Analyst sentiment remains generally positive, with 11 Buy ratings and 3 Hold ratings, giving Cencora a consensus rating of Moderate Buy and a consensus price target of $367.75.
• Cencora reported quarterly earnings of $4.75 per share, missing estimates, while revenue came in at $78.36 billion; the company also authorized a $2 billion share repurchase plan and recently paid a $0.60 quarterly dividend.

Bank of New York Mellon Corp trimmed its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 2.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,028,152 shares of the company's stock after selling 24,760 shares during the period. Bank of New York Mellon Corp owned about 0.53% of Cencora worth $322,984,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of COR. Illinois Municipal Retirement Fund lifted its holdings in Cencora by 27.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 9,631 shares of the company's stock valued at $3,025,000 after purchasing an additional 2,081 shares during the last quarter. Three Seasons Wealth LLC bought a new stake in Cencora during the first quarter worth $799,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Cencora by 9.7% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 62,075 shares of the company's stock worth $19,497,000 after acquiring an additional 5,500 shares during the last quarter. Camden National Bank boosted its position in Cencora by 14.8% in the first quarter. Camden National Bank now owns 1,292 shares of the company's stock valued at $406,000 after buying an additional 167 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its stake in shares of Cencora by 14.1% during the first quarter. Checchi Capital Advisers LLC now owns 1,965 shares of the company's stock valued at $617,000 after acquiring an additional 243 shares during the last quarter. Institutional investors own 97.52% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. William Blair assumed coverage on Cencora in a research report on Tuesday, April 28th. They issued a "market perform" rating for the company. Weiss Ratings downgraded Cencora from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, June 30th. Morgan Stanley set a $342.00 price objective on Cencora in a research note on Friday, May 8th. Robert W. Baird reduced their target price on Cencora from $420.00 to $339.00 and set an "outperform" rating for the company in a research report on Thursday, May 7th. Finally, Evercore set a $360.00 target price on Cencora in a research report on Wednesday, April 8th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $367.75.

Cencora Trading Down 0.1%

Cencora stock opened at $307.72 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.59 and a debt-to-equity ratio of 3.40. The company has a market capitalization of $59.87 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 1.71 and a beta of 0.58. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54. The business's fifty day simple moving average is $279.98 and its two-hundred day simple moving average is $317.68.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $4.75 EPS for the quarter, missing analysts' consensus estimates of $4.82 by ($0.07). The company had revenue of $78.36 billion during the quarter, compared to the consensus estimate of $81.09 billion. Cencora had a return on equity of 135.20% and a net margin of 0.78%.The business's revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.42 earnings per share. Cencora has set its FY 2026 guidance at 17.650-17.900 EPS. As a group, equities analysts predict that Cencora, Inc. will post 17.79 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a $0.60 dividend. The ex-dividend date was Friday, May 15th. This represents a $2.40 dividend on an annualized basis and a yield of 0.8%. Cencora's dividend payout ratio is presently 18.40%.

Cencora declared that its board has authorized a share repurchase plan on Thursday, May 21st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other Cencora news, Director Lauren M. Tyler purchased 550 shares of the business's stock in a transaction on Monday, June 22nd. The stock was acquired at an average price of $270.23 per share, for a total transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.38% of the company's stock.

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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