Gabelli Funds LLC Cuts Stock Position in Cencora, Inc. $COR

Gabelli Funds LLC lessened its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 41.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,970 shares of the company's stock after selling 18,440 shares during the quarter. Gabelli Funds LLC's holdings in Cencora were worth $8,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in COR. Vanguard Group Inc. grew its position in Cencora by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 23,617,117 shares of the company's stock valued at $7,976,681,000 after buying an additional 221,570 shares during the period. State Street Corp increased its holdings in Cencora by 1.3% during the fourth quarter. State Street Corp now owns 9,305,507 shares of the company's stock worth $3,142,935,000 after buying an additional 115,191 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in Cencora by 160.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company's stock worth $2,262,956,000 after acquiring an additional 4,123,795 shares during the period. Geode Capital Management LLC boosted its stake in Cencora by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 5,459,476 shares of the company's stock valued at $1,843,268,000 after acquiring an additional 169,055 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Cencora by 6.5% during the 4th quarter. JPMorgan Chase & Co. now owns 4,982,557 shares of the company's stock valued at $1,682,859,000 after acquiring an additional 304,760 shares during the period. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cencora

In related 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 acquired at an average price of $270.23 per share, with a total value of $148,626.50. Following the acquisition, the director owned 4,359 shares of the company's stock, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

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

Cencora Stock Up 0.5%

COR opened at $311.42 on Tuesday. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54. The company has a market cap of $60.59 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 1.72 and a beta of 0.58. 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 50 day moving average of $285.51 and a 200 day moving average of $316.05.

Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $4.75 earnings per share (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 business had revenue of $78.36 billion for the quarter, compared to the consensus estimate of $81.09 billion. During the same period in the previous year, the firm earned $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, sell-side analysts expect that Cencora, Inc. will post 17.79 EPS for the current year.

Cencora announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 21st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

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 paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, May 15th. Cencora's payout ratio is presently 18.40%.

Cencora Company 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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