Cencora, Inc. $COR Shares Purchased by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp increased its stake in Cencora by 240.1% in the first quarter, buying 49,479 additional shares and bringing its total holding to 70,090 shares worth about $22.0 million.
• Analyst sentiment remains generally positive, with 11 Buy ratings and 4 Hold ratings; the stock’s consensus rating is Moderate Buy with a target price of $367.75, though some firms have recently trimmed targets or downgraded the stock.
• Cencora reported Q1 EPS of $4.75, missing estimates, while revenue came in at $78.36 billion versus expectations. The company also paid a $0.60 quarterly dividend and authorized a $2 billion share repurchase program.

Fifth Third Bancorp raised its position in Cencora, Inc. (NYSE:COR - Free Report) by 240.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,090 shares of the company's stock after purchasing an additional 49,479 shares during the quarter. Fifth Third Bancorp's holdings in Cencora were worth $22,018,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in COR. Kemnay Advisory Services Inc. purchased a new position in Cencora during the 4th quarter valued at about $25,000. Oakworth Capital Inc. acquired a new stake in Cencora during the 4th quarter worth approximately $26,000. Elyxium Wealth LLC acquired a new stake in Cencora during the 4th quarter worth approximately $27,000. Archer Investment Corp boosted its position in Cencora by 134.3% in the 4th quarter. Archer Investment Corp now owns 82 shares of the company's stock valued at $28,000 after buying an additional 47 shares during the period. Finally, Motiv8 Investments LLC acquired a new stake in shares of Cencora in the fourth quarter valued at $29,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

COR has been the subject of a number of recent research reports. Weiss Ratings lowered Cencora from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, June 30th. Citigroup cut their target price on shares of Cencora from $405.00 to $355.00 and set a "buy" rating on the stock in a research note on Thursday, May 7th. Leerink Partners reaffirmed an "outperform" rating on shares of Cencora in a report on Tuesday, March 17th. Morgan Stanley set a $342.00 price target on shares of Cencora in a research note on Friday, May 8th. Finally, Bank of America lifted their price objective on shares of Cencora from $280.00 to $285.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 24th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $367.75.

Insiders Place Their Bets

In other news, Director Lauren M. Tyler acquired 550 shares of Cencora stock in a transaction on Monday, June 22nd. The stock was bought at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the purchase, the director owned 4,359 shares in the company, valued at $1,177,932.57. This represents a 14.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.38% of the company's stock.

Cencora Price Performance

Shares of COR opened at $306.56 on Tuesday. Cencora, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54. The stock has a market cap of $59.64 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58. 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 fifty day moving average price of $277.20 and a 200 day moving average price of $318.60.

Cencora (NYSE:COR - Get Free Report) last posted its 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 firm had revenue of $78.36 billion for the quarter, compared to analyst estimates of $81.09 billion. Cencora had a return on equity of 135.20% and a net margin of 0.78%.The firm's revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $4.42 EPS. 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 EPS for the current year.

Cencora Announces Dividend

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

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

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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