Bank of New York Mellon Corp Has $355.62 Million Holdings in Cencora, Inc. $COR

Key Points

• Bank of New York Mellon reduced its Cencora stake by 3.2% in the fourth quarter, but still held 1,052,912 shares valued at about $355.6 million at the end of the period.
• Cencora’s latest earnings missed expectations, with EPS of $4.75 versus the $4.82 consensus and revenue of $78.36 billion versus the $81.09 billion estimate, though revenue still rose 3.9% year over year.
• The company also announced a $2 billion share buyback and a quarterly dividend of $0.60 per share, while analysts maintain a Moderate Buy consensus with a $380.25 price target.

Bank of New York Mellon Corp lessened its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,052,912 shares of the company's stock after selling 34,512 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.54% of Cencora worth $355,621,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of COR. United Bank grew its position in shares of Cencora by 4.5% in the second quarter. United Bank now owns 7,032 shares of the company's stock valued at $2,109,000 after purchasing an additional 305 shares during the last quarter. Nebula Research & Development LLC acquired a new position in shares of Cencora in the second quarter valued at approximately $595,000. Treasurer of the State of North Carolina grew its position in shares of Cencora by 7.9% in the second quarter. Treasurer of the State of North Carolina now owns 85,534 shares of the company's stock valued at $25,647,000 after purchasing an additional 6,244 shares during the last quarter. Diversify Advisory Services LLC grew its position in shares of Cencora by 94.1% in the second quarter. Diversify Advisory Services LLC now owns 2,585 shares of the company's stock valued at $747,000 after purchasing an additional 1,253 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Cencora by 26.0% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 73,452 shares of the company's stock valued at $22,025,000 after purchasing an additional 15,154 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on COR. Robert W. Baird reduced their price target on Cencora from $420.00 to $339.00 and set an "outperform" rating on the stock in a research report on Thursday, May 7th. Evercore set a $360.00 target price on Cencora in a research note on Wednesday, April 8th. William Blair assumed coverage on Cencora in a research note on Tuesday, April 28th. They set a "market perform" rating for the company. UBS Group upped their target price on Cencora from $410.00 to $412.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Finally, Barclays upped their target price on Cencora from $400.00 to $425.00 and gave the stock an "overweight" rating in a research note on Friday, February 13th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Cencora currently has a consensus rating of "Moderate Buy" and a consensus price target of $380.25.

Cencora Stock Up 2.5%

Shares of COR opened at $270.12 on Friday. Cencora, Inc. has a 52 week low of $244.82 and a 52 week high of $377.54. The stock has a market capitalization of $52.55 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 1.42 and a beta of 0.59. The company has a debt-to-equity ratio of 3.40, a quick ratio of 0.59 and a current ratio of 0.95. The stock has a fifty day moving average of $293.70 and a 200-day moving average of $330.94.

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). Cencora had a net margin of 0.78% and a return on equity of 135.20%. The firm had revenue of $78.36 billion during the quarter, compared to the consensus estimate of $81.09 billion. During the same quarter in the previous year, the company posted $4.42 earnings per share. The firm's revenue was up 3.9% on a year-over-year basis. Cencora has set its FY 2026 guidance at 17.650-17.900 EPS. As a group, sell-side analysts anticipate that Cencora, Inc. will post 17.79 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, May 15th. Cencora's dividend payout ratio is presently 18.40%.

Cencora announced that its board has authorized a share buyback plan on Thursday, May 21st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its stock is 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.

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