Jennison Associates LLC Has $133.85 Million Stock Position in Cencora, Inc. $COR

Jennison Associates LLC grew its stake in shares of Cencora, Inc. (NYSE:COR) by 144.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 426,092 shares of the company’s stock after buying an additional 252,089 shares during the quarter. Jennison Associates LLC owned approximately 0.22% of Cencora worth $133,853,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of COR. Vanguard Group Inc. boosted its holdings in shares of Cencora by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 23,617,117 shares of the company’s stock valued at $7,976,681,000 after acquiring an additional 221,570 shares in the last quarter. State Street Corp increased its holdings in Cencora by 1.3% in the 4th quarter. State Street Corp now owns 9,305,507 shares of the company’s stock worth $3,142,935,000 after purchasing an additional 115,191 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Cencora by 160.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock worth $2,262,956,000 after purchasing an additional 4,123,795 shares in the last quarter. Geode Capital Management LLC raised its position in Cencora by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 5,459,476 shares of the company’s stock valued at $1,843,268,000 after purchasing an additional 169,055 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Cencora by 6.5% in the fourth quarter. JPMorgan Chase & Co. now owns 4,982,557 shares of the company’s stock valued at $1,682,859,000 after purchasing an additional 304,760 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COR. Barclays reduced their price target on Cencora from $425.00 to $350.00 and set an “overweight” rating on the stock in a report on Wednesday, June 10th. Weiss Ratings downgraded shares of Cencora from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 30th. Evercore set a $360.00 target price on shares of Cencora in a report on Wednesday, April 8th. Citigroup decreased their price target on shares of Cencora from $405.00 to $355.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Finally, Wells Fargo & Company cut their price target on shares of Cencora from $429.00 to $331.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $367.75.

Cencora Trading Down 0.1%

COR opened at $307.72 on Friday. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54. The company has a fifty day moving average of $279.98 and a 200-day moving average of $317.68. The stock has a market cap of $59.87 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 1.71 and a beta of 0.58. The company has a quick ratio of 0.59, a current ratio of 0.95 and a debt-to-equity ratio of 3.40.

Cencora (NYSE:COR) last issued its quarterly 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). Cencora had a net margin of 0.78% and a return on equity of 135.20%. The firm had revenue of $78.36 billion for the quarter, compared to the consensus estimate of $81.09 billion. During the same period last year, the company posted $4.42 EPS. The business’s 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. On average, sell-side analysts predict that Cencora, Inc. will post 17.79 EPS for the current year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors 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 dividend payout ratio is presently 18.40%.

Cencora announced that its Board of Directors has approved a stock repurchase program on Thursday, May 21st that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Cencora news, Director Lauren M. Tyler bought 550 shares of the stock in a transaction on Monday, June 22nd. The stock was acquired at an average cost of $270.23 per share, for a total transaction of $148,626.50. Following the completion of the acquisition, the director 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 document filed with the SEC, which is available at this link. 0.38% of the stock is owned by corporate insiders.

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.