Northwestern Mutual Wealth Management Co. Has $9.57 Million Stake in Cencora, Inc. $COR

Key Points

• Northwestern Mutual Wealth Management boosted its stake in Cencora by 27.4% in the fourth quarter, ending with 28,324 shares valued at about $9.57 million.
• Institutional ownership remains extremely high, with hedge funds and other investors holding 97.52% of Cencora’s shares. Several large firms, including Vanguard, State Street, and JPMorgan, also increased their positions.
• Cencora reported quarterly earnings of $4.75 per share, missing estimates, while revenue came in below expectations. The company also authorized a $2 billion share repurchase program and paid a quarterly dividend of $0.60 per share.

Northwestern Mutual Wealth Management Co. raised its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 27.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,324 shares of the company's stock after buying an additional 6,087 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Cencora were worth $9,566,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Cencora by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 23,617,117 shares of the company's stock worth $7,976,681,000 after buying an additional 221,570 shares in the last quarter. State Street Corp lifted its position in shares of Cencora by 9.3% during the third quarter. State Street Corp now owns 9,190,316 shares of the company's stock worth $2,872,249,000 after purchasing an additional 782,911 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Cencora by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 5,459,476 shares of the company's stock worth $1,843,268,000 after purchasing an additional 169,055 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Cencora by 21.3% during the third quarter. JPMorgan Chase & Co. now owns 4,677,797 shares of the company's stock worth $1,461,965,000 after purchasing an additional 821,098 shares in the last quarter. Finally, Boston Partners lifted its position in shares of Cencora by 2.0% during the third quarter. Boston Partners now owns 4,509,165 shares of the company's stock worth $1,409,152,000 after purchasing an additional 89,506 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Analyst Upgrades and Downgrades

COR has been the topic of a number of research reports. Barclays upped their target price on shares of Cencora from $400.00 to $425.00 and gave the stock an "overweight" rating in a research report on Friday, February 13th. Citigroup reduced their target price on shares of Cencora from $405.00 to $355.00 and set a "buy" rating on the stock in a research report on Thursday, May 7th. Robert W. Baird reduced their target price on shares of Cencora from $420.00 to $339.00 and set an "outperform" rating on the stock in a research report on Thursday, May 7th. Weiss Ratings lowered shares of Cencora from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, May 22nd. Finally, Morgan Stanley set a $342.00 target price on shares of Cencora in a research report on Friday, May 8th. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Cencora presently has an average rating of "Moderate Buy" and a consensus price target of $380.25.

Cencora Trading Up 0.3%

Shares of NYSE COR opened at $265.43 on Wednesday. The company's 50 day simple moving average is $297.22 and its 200 day simple moving average is $332.99. Cencora, Inc. has a fifty-two week low of $244.82 and a fifty-two week high of $377.54. The firm has a market capitalization of $51.64 billion, a P/E ratio of 20.35, a P/E/G ratio of 1.22 and a beta of 0.59. The company has a debt-to-equity ratio of 3.40, a current ratio of 0.95 and a quick ratio of 0.59.

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 net margin of 0.78% and a return on equity of 135.20%. The business had revenue of $78.36 billion during the quarter, compared to analyst estimates of $81.09 billion. During the same quarter in the prior year, the company earned $4.42 earnings per share. The company's quarterly revenue was up 3.9% on a year-over-year basis. Cencora has set its FY 2026 guidance at 17.650-17.900 EPS. On average, analysts predict that Cencora, Inc. will post 17.79 EPS for the current year.

Cencora declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 21st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its shares are undervalued.

Cencora Dividend Announcement

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

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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