Burney Co. Sells 22,933 Shares of Cencora, Inc. $COR

Key Points

• Burney Co. cut its Cencora stake by 26% in the first quarter, selling 22,933 shares and leaving it with 65,350 shares worth about $20.5 million.
• Several other institutional investors also adjusted positions in Cencora, and institutions still hold a dominant 97.52% of the stock.
• Analysts remain mostly positive overall, with 11 Buy ratings and 4 Hold ratings, though some price targets were lowered; the consensus target is $367.75.

Burney Co. decreased its position in Cencora, Inc. (NYSE:COR - Free Report) by 26.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 65,350 shares of the company's stock after selling 22,933 shares during the period. Cencora accounts for 0.6% of Burney Co.'s investment portfolio, making the stock its 23rd biggest holding. Burney Co.'s holdings in Cencora were worth $20,529,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. United Bank lifted its holdings in Cencora by 4.5% during the second quarter. United Bank now owns 7,032 shares of the company's stock worth $2,109,000 after acquiring an additional 305 shares during the period. Nebula Research & Development LLC purchased a new position in Cencora in the second quarter worth $595,000. Treasurer of the State of North Carolina grew its stake in Cencora by 7.9% in the 2nd 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 period. Diversify Advisory Services LLC grew its stake in Cencora by 94.1% in the 2nd 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 period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Cencora by 26.0% during the 2nd 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 own 97.52% of the company's stock.

Analyst Upgrades and Downgrades

COR has been the topic of a number of recent analyst reports. Robert W. Baird lowered their target price on Cencora from $420.00 to $339.00 and set an "outperform" rating on the stock in a research note on Thursday, May 7th. William Blair assumed coverage on shares of Cencora in a research report on Tuesday, April 28th. They set a "market perform" rating for the company. Weiss Ratings downgraded shares of Cencora from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, June 30th. UBS Group lifted their price objective on shares of Cencora from $410.00 to $412.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Finally, Wells Fargo & Company dropped their target price on shares of Cencora from $429.00 to $331.00 and set an "overweight" rating on the stock in a research note on Monday, May 11th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Cencora has an average rating of "Moderate Buy" and an average target price of $367.75.

Insider Buying and Selling at Cencora

In other Cencora news, Director Lauren M. Tyler purchased 550 shares of the stock in a transaction dated 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 transaction, the director directly owned 4,359 shares in the company, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.38% of the stock is owned by insiders.

Cencora Stock Performance

NYSE:COR opened at $298.80 on Tuesday. 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 business has a fifty day simple moving average of $277.66 and a two-hundred day simple moving average of $319.86. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. The company has a market capitalization of $58.13 billion, a P/E ratio of 22.91, a P/E/G ratio of 1.65 and a beta of 0.58.

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

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a $0.60 dividend. The ex-dividend date was Friday, May 15th. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. Cencora's dividend payout ratio (DPR) is presently 18.40%.

Cencora announced that its board has initiated a stock repurchase program 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 stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors 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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