Sumitomo Mitsui Trust Group Inc. Has $252.41 Million Stake in Cencora, Inc. $COR

Key Points

• Sumitomo Mitsui Trust Group cut its Cencora stake by 8.5% in the first quarter, but still held 803,492 shares valued at about $252.4 million as of its latest filing.
• Wall Street remains broadly positive on Cencora: analysts have issued 11 Buy ratings and 4 Hold ratings, with an average target price of $367.75 and a consensus rating of Moderate Buy.
• Cencora recently posted mixed quarterly results, missing EPS and revenue estimates, while also announcing a $2 billion share buyback and continuing its quarterly dividend of $0.60 per share.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 8.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 803,492 shares of the company's stock after selling 74,396 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.41% of Cencora worth $252,409,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Resona Asset Management Co. Ltd. increased its stake in shares of Cencora by 0.6% in the first quarter. Resona Asset Management Co. Ltd. now owns 94,813 shares of the company's stock worth $29,737,000 after acquiring an additional 538 shares during the last quarter. Seelaus Asset Management LLC increased its holdings in shares of Cencora by 3.8% during the 1st quarter. Seelaus Asset Management LLC now owns 1,740 shares of the company's stock valued at $547,000 after acquiring an additional 63 shares during the last quarter. Staley Capital Advisers Inc. increased its holdings in shares of Cencora by 0.7% during the 1st quarter. Staley Capital Advisers Inc. now owns 6,127 shares of the company's stock valued at $1,925,000 after acquiring an additional 40 shares during the last quarter. Quantum Portfolio Management LLC bought a new position in shares of Cencora in the 1st quarter valued at approximately $488,000. Finally, Eads & Heald Wealth Management lifted its holdings in Cencora by 1.2% in the 1st quarter. Eads & Heald Wealth Management now owns 8,912 shares of the company's stock worth $2,800,000 after purchasing an additional 109 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Analyst Upgrades and Downgrades

COR has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their target price on Cencora from $429.00 to $331.00 and set an "overweight" rating for the company in a research report on Monday, May 11th. Morgan Stanley set a $342.00 price target on shares of Cencora in a research report on Friday, May 8th. Barclays decreased their price target on shares of Cencora from $425.00 to $350.00 and set an "overweight" rating for the company in a report on Wednesday, June 10th. UBS Group raised their price objective on shares of Cencora from $410.00 to $412.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Finally, Bank of America boosted their price target on Cencora from $280.00 to $285.00 and gave the company a "neutral" rating in a research note on Wednesday, June 24th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $367.75.

Insider Activity at Cencora

In related news, Director Lauren M. Tyler purchased 550 shares of the business's 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 purchase, the director directly owned 4,359 shares in the company, valued at $1,177,932.57. This trade represents a 14.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.38% of the company's stock.

Cencora Stock Performance

NYSE:COR opened at $302.31 on Friday. 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 stock has a market capitalization of $58.82 billion, a P/E ratio of 23.18, a price-to-earnings-growth ratio of 1.72 and a beta of 0.58. The firm has a 50 day moving average of $277.38 and a 200-day moving average of $319.09. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54.

Cencora (NYSE:COR - Get Free Report) last announced its 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). 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 last year, the business posted $4.42 earnings per share. The business's quarterly 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. As a group, sell-side analysts anticipate that Cencora, Inc. will post 17.79 EPS for the current fiscal year.

Cencora Dividend Announcement

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

Cencora announced that its board has authorized a stock buyback program on Thursday, May 21st that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board 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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