Fifth Third Bancorp Raises Stake in Cencora, Inc. $COR

Fifth Third Bancorp raised its holdings in Cencora, Inc. (NYSE:COR) by 240.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,090 shares of the company’s stock after purchasing an additional 49,479 shares during the quarter. Fifth Third Bancorp’s holdings in Cencora were worth $22,018,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. United Bank boosted its stake in shares of Cencora by 4.5% during the second quarter. United Bank now owns 7,032 shares of the company’s stock worth $2,109,000 after buying an additional 305 shares during the period. Nebula Research & Development LLC purchased a new position in shares of Cencora during the second quarter worth about $595,000. Treasurer of the State of North Carolina increased its position in 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 acquiring an additional 6,244 shares during the period. Diversify Advisory Services LLC increased its position in Cencora by 94.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 2,585 shares of the company’s stock valued at $747,000 after acquiring an additional 1,253 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Cencora by 26.0% during the 2nd 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 acquiring an additional 15,154 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Performance

NYSE COR opened at $306.56 on Tuesday. The stock has a market capitalization of $59.64 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 1.68 and a beta of 0.58. The business’s 50 day moving average is $277.20 and its two-hundred day moving average is $318.60. Cencora, Inc. has a 12-month low of $244.82 and a 12-month high of $377.54. The company has a current ratio of 0.95, a quick ratio of 0.59 and a debt-to-equity ratio of 3.40.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $4.75 EPS 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 period in the prior year, the business earned $4.42 earnings per share. The firm’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. Research analysts expect that Cencora, Inc. will post 17.79 EPS for the current year.

Cencora announced that its Board of Directors has approved a stock buyback plan on Thursday, May 21st that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Cencora Announces Dividend

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

Insider Activity at Cencora

In related news, Director Lauren M. Tyler purchased 550 shares of the stock in a transaction dated Monday, June 22nd. The shares were acquired at an average cost 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 legal filing with the SEC, which is available through the SEC website. Insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

COR has been the topic of several analyst reports. UBS Group lifted their target price on Cencora from $410.00 to $412.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Robert W. Baird decreased their price target on Cencora from $420.00 to $339.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. William Blair initiated coverage on shares of Cencora in a research report on Tuesday, April 28th. They issued a “market perform” rating on the stock. Wells Fargo & Company cut their price objective on shares of Cencora from $429.00 to $331.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Finally, Weiss Ratings cut shares of Cencora from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 30th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $367.75.

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.