Jennison Associates LLC Buys 252,089 Shares of Cencora, Inc. $COR

Jennison Associates LLC grew its stake in shares of Cencora, Inc. (NYSE:COR) by 144.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 426,092 shares of the company’s stock after buying an additional 252,089 shares during the quarter. Jennison Associates LLC’s holdings in Cencora were worth $133,853,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB raised its holdings in Cencora by 3.8% during the fourth quarter. Nordea Investment Management AB now owns 1,256,356 shares of the company’s stock worth $426,715,000 after buying an additional 45,712 shares during the last quarter. ExodusPoint Capital Management LP acquired a new position in shares of Cencora during the fourth quarter valued at about $16,487,000. Assetmark Inc. grew its holdings in shares of Cencora by 57.0% during the fourth quarter. Assetmark Inc. now owns 67,281 shares of the company’s stock valued at $22,724,000 after buying an additional 24,431 shares during the last quarter. Groupama Asset Managment bought a new stake in shares of Cencora during the third quarter worth about $1,225,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cencora by 162.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 289,370 shares of the company’s stock worth $97,735,000 after acquiring an additional 179,086 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

Cencora Trading Down 0.1%

Shares of COR stock opened at $307.72 on Friday. The company has a debt-to-equity ratio of 3.40, a quick ratio of 0.59 and a current ratio of 0.95. The company has a market capitalization of $59.87 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 1.71 and a beta of 0.58. Cencora, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54. The company has a 50-day simple moving average of $279.98 and a two-hundred day simple moving average of $317.68.

Cencora (NYSE:COR) last posted its 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 return on equity of 135.20% and a net margin of 0.78%.The firm had revenue of $78.36 billion for the quarter, compared to the consensus estimate of $81.09 billion. During the same period in the prior year, the business earned $4.42 EPS. Cencora’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 anticipate that Cencora, Inc. will post 17.79 EPS for the current fiscal year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, May 15th. Cencora’s dividend payout ratio (DPR) is 18.40%.

Cencora announced that its board has approved a share buyback program on Thursday, May 21st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

COR has been the topic of several recent research reports. Morgan Stanley set a $342.00 price target on shares of Cencora in a research report on Friday, May 8th. Weiss Ratings lowered Cencora from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 30th. William Blair initiated coverage on Cencora in a research note on Tuesday, April 28th. They issued a “market perform” rating for the company. UBS Group raised their target price on Cencora from $410.00 to $412.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company cut their target price on Cencora from $429.00 to $331.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Eleven 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $367.75.

Insider Buying and Selling

In other Cencora news, Director Lauren M. Tyler acquired 550 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were acquired at an average price of $270.23 per share, with a total value of $148,626.50. Following the completion of the transaction, the director owned 4,359 shares in the company, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.38% of the company’s stock.

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.