Geode Capital Management LLC Raises Stake in Cencora, Inc. $COR

Key Points

• Geode Capital Management increased its Cencora stake by 3.2% in the fourth quarter, ending with 5.46 million shares valued at about $1.84 billion. Institutional ownership remains extremely high, with hedge funds and other investors holding 97.52% of the stock.
• Cencora’s latest quarter missed expectations, reporting EPS of $4.75 versus the $4.82 consensus and revenue of $78.36 billion versus estimates of $81.09 billion. Even so, revenue rose 3.9% year over year, and the company reaffirmed FY2026 EPS guidance of 17.65 to 17.90.
• The company authorized a $2 billion share repurchase program and declared a quarterly dividend of $0.60 per share, or $2.40 annually, for a 0.9% yield. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $380.25.

Geode Capital Management LLC lifted its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,459,476 shares of the company's stock after buying an additional 169,055 shares during the quarter. Geode Capital Management LLC owned approximately 2.81% of Cencora worth $1,843,268,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Cencora by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 23,617,117 shares of the company's stock valued at $7,976,681,000 after purchasing an additional 221,570 shares during the period. State Street Corp grew its holdings in Cencora by 9.3% in the third quarter. State Street Corp now owns 9,190,316 shares of the company's stock valued at $2,872,249,000 after purchasing an additional 782,911 shares during the period. JPMorgan Chase & Co. grew its holdings in Cencora by 21.3% in the third quarter. JPMorgan Chase & Co. now owns 4,677,797 shares of the company's stock valued at $1,461,965,000 after purchasing an additional 821,098 shares during the period. Boston Partners grew its holdings in Cencora by 2.0% in the third quarter. Boston Partners now owns 4,509,165 shares of the company's stock valued at $1,409,152,000 after purchasing an additional 89,506 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Cencora by 3.0% in the third quarter. Wellington Management Group LLP now owns 3,971,121 shares of the company's stock valued at $1,241,094,000 after purchasing an additional 115,278 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Trading Up 0.2%

Shares of COR stock opened at $267.64 on Friday. The stock has a market cap of $52.07 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 1.23 and a beta of 0.64. The company has a quick ratio of 0.59, a current ratio of 0.95 and a debt-to-equity ratio of 3.40. Cencora, Inc. has a fifty-two week low of $244.82 and a fifty-two week high of $377.54. The firm's 50 day moving average price is $299.68 and its two-hundred day moving average price is $334.37.

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

Cencora declared that its board has approved a share repurchase program on Thursday, May 21st that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's management believes its stock is undervalued.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, May 15th. Cencora's payout ratio is 18.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on COR shares. Weiss Ratings downgraded shares of Cencora from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, May 22nd. Morgan Stanley set a $342.00 target price on shares of Cencora in a report on Friday, May 8th. Citigroup lowered their target price on shares of Cencora from $405.00 to $355.00 and set a "buy" rating for the company in a report on Thursday, May 7th. UBS Group boosted their target price on shares of Cencora from $410.00 to $412.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Finally, Evercore set a $360.00 target price on shares of Cencora in a report on Wednesday, April 8th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $380.25.

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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