First Horizon Corp Lowers Position in Cencora, Inc. $COR

First Horizon Corp trimmed its position in shares of Cencora, Inc. (NYSE:COR) by 36.5% during the first quarter, HoldingsChannel reports. The fund owned 6,506 shares of the company’s stock after selling 3,747 shares during the quarter. First Horizon Corp’s holdings in Cencora were worth $2,044,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in COR. United Bank increased its position in Cencora by 4.5% during the 2nd quarter. United Bank now owns 7,032 shares of the company’s stock worth $2,109,000 after purchasing an additional 305 shares during the period. Nebula Research & Development LLC purchased a new position in shares of Cencora during the 2nd quarter worth approximately $595,000. Treasurer of the State of North Carolina lifted its holdings in shares of Cencora by 7.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 85,534 shares of the company’s stock valued at $25,647,000 after buying an additional 6,244 shares during the period. Diversify Advisory Services LLC boosted its stake in shares of Cencora by 94.1% in the second quarter. Diversify Advisory Services LLC now owns 2,585 shares of the company’s stock valued at $747,000 after buying an additional 1,253 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Cencora by 26.0% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 73,452 shares of the company’s stock valued at $22,025,000 after buying an additional 15,154 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

COR has been the topic of a number of recent analyst reports. Bank of America upped their price objective on Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Morgan Stanley set a $342.00 target price on shares of Cencora in a research report on Friday, May 8th. Evercore set a $360.00 price target on shares of Cencora in a research note on Wednesday, April 8th. Robert W. Baird lowered their price target on shares of Cencora from $420.00 to $339.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Finally, Barclays cut 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. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $367.75.

Insider Activity at Cencora

In other Cencora news, Director Lauren M. Tyler acquired 550 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were purchased at an average cost of $270.23 per share, with a total value of $148,626.50. Following the purchase, the director owned 4,359 shares in the company, valued at approximately $1,177,932.57. The trade was a 14.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.38% of the stock is owned by corporate insiders.

Cencora Stock Performance

NYSE COR opened at $303.31 on Friday. The business has a 50 day moving average price of $277.22 and a 200 day moving average price of $318.98. The company has a market capitalization of $59.01 billion, a P/E ratio of 23.26, a PEG ratio of 1.68 and a beta of 0.58. Cencora, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54. 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) 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 analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.42 earnings per share. Cencora has set its FY 2026 guidance at 17.650-17.900 EPS. Sell-side analysts expect that Cencora, Inc. will post 17.79 EPS for the current fiscal year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were given a $0.60 dividend. 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 of Directors has initiated a stock 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 buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.