PNC Financial Services Group Inc. Sells 4,128 Shares of Cencora, Inc. $COR

PNC Financial Services Group Inc. cut its position in shares of Cencora, Inc. (NYSE:COR) by 1.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 208,528 shares of the company’s stock after selling 4,128 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Cencora were worth $62,527,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of COR. Price T Rowe Associates Inc. MD boosted its position in Cencora by 8.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company’s stock worth $2,682,821,000 after acquiring an additional 787,858 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Cencora by 7.2% in the first quarter. Wellington Management Group LLP now owns 5,421,262 shares of the company’s stock valued at $1,507,599,000 after purchasing an additional 363,402 shares during the last quarter. Boston Partners raised its holdings in shares of Cencora by 8.1% in the first quarter. Boston Partners now owns 5,411,193 shares of the company’s stock valued at $1,505,984,000 after purchasing an additional 404,093 shares during the last quarter. Invesco Ltd. lifted its position in shares of Cencora by 42.1% in the first quarter. Invesco Ltd. now owns 4,607,964 shares of the company’s stock worth $1,281,429,000 after purchasing an additional 1,364,433 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Cencora by 9.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,711,281 shares of the company’s stock worth $475,890,000 after purchasing an additional 154,311 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Analysts Set New Price Targets

COR has been the topic of several recent research reports. Evercore ISI set a $400.00 price target on shares of Cencora and gave the company an “outperform” rating in a research note on Thursday, November 6th. Wall Street Zen upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Robert W. Baird lifted their target price on Cencora from $355.00 to $395.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. JPMorgan Chase & Co. upped their target price on Cencora from $344.00 to $417.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Cencora in a research report on Thursday, October 30th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and a consensus price target of $371.09.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 31,350 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the completion of the sale, the chairman owned 305,913 shares of the company’s stock, valued at $88,671,942.18. This trade represents a 9.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert P. Mauch sold 5,097 shares of Cencora stock in a transaction on Monday, October 20th. The stock was sold at an average price of $326.80, for a total transaction of $1,665,699.60. Following the transaction, the chief executive officer directly owned 37,940 shares of the company’s stock, valued at approximately $12,398,792. This trade represents a 11.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 41,544 shares of company stock valued at $12,230,941 over the last quarter. 10.80% of the stock is currently owned by corporate insiders.

Cencora Stock Up 0.5%

Cencora stock opened at $365.06 on Friday. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. The company’s 50-day moving average is $319.97 and its 200-day moving average is $301.57. The firm has a market capitalization of $70.78 billion, a PE ratio of 37.56, a P/E/G ratio of 1.56 and a beta of 0.63. Cencora, Inc. has a fifty-two week low of $223.92 and a fifty-two week high of $366.17.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, November 5th. The company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.05. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The business had revenue of $83.73 billion during the quarter, compared to the consensus estimate of $83.36 billion. During the same period last year, the business posted $3.34 EPS. Cencora’s revenue was up 5.9% on a year-over-year basis. Cencora has set its FY 2026 guidance at 17.450-17.75 EPS. Sell-side analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Cencora’s previous quarterly dividend of $0.55. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. Cencora’s payout ratio is 30.19%.

About Cencora

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.