Kornitzer Capital Management Inc. KS Sells 8,100 Shares of Cencora, Inc. $COR

Kornitzer Capital Management Inc. KS lowered its stake in shares of Cencora, Inc. (NYSE:COR) by 26.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 22,560 shares of the company’s stock after selling 8,100 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Cencora were worth $7,087,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. raised its holdings in shares of Cencora by 160.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock valued at $2,262,956,000 after purchasing an additional 4,123,795 shares during the last quarter. Norges Bank purchased a new position in Cencora during the fourth quarter worth about $822,506,000. Marshall Wace LLP grew its position in Cencora by 518.9% in the 3rd quarter. Marshall Wace LLP now owns 1,995,118 shares of the company’s stock worth $623,534,000 after purchasing an additional 1,672,762 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Cencora by 528.9% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,475,859 shares of the company’s stock worth $461,250,000 after purchasing an additional 1,241,186 shares in the last quarter. Finally, Viking Global Investors LP increased its stake in Cencora by 95.0% in the 2nd quarter. Viking Global Investors LP now owns 2,081,732 shares of the company’s stock valued at $624,207,000 after buying an additional 1,013,913 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Performance

Shares of COR stock traded up $0.85 during trading hours on Friday, hitting $303.31. 761,459 shares of the company were exchanged, compared to its average volume of 1,586,448. The company has a current ratio of 0.95, a quick ratio of 0.59 and a debt-to-equity ratio of 3.40. The stock has a market capitalization of $59.01 billion, a price-to-earnings ratio of 23.26, a P/E/G ratio of 1.68 and a beta of 0.58. The firm has a fifty day simple moving average of $277.22 and a 200 day simple moving average of $318.98. Cencora, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54.

Cencora (NYSE:COR) last released its earnings results on Wednesday, May 6th. The company reported $4.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($0.07). The firm had revenue of $78.36 billion during 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 business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $4.42 earnings per share. Cencora has set its FY 2026 guidance at 17.650-17.900 EPS. Research analysts predict that Cencora, Inc. will post 17.79 earnings per share for the current fiscal year.

Cencora announced that its Board of Directors has initiated a share repurchase plan on Thursday, May 21st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid 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 dividend payout ratio (DPR) is presently 18.40%.

Insider Buying and Selling at Cencora

In other Cencora news, Director Lauren M. Tyler purchased 550 shares of the stock in a transaction dated Monday, June 22nd. The shares were bought 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 directly owned 4,359 shares in the company, valued at approximately $1,177,932.57. This trade represents a 14.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.38% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. 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 note on Monday, May 11th. Evercore set a $360.00 price target on Cencora in a report on Wednesday, April 8th. Robert W. Baird cut their price objective on Cencora from $420.00 to $339.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings downgraded Cencora from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 30th. Finally, Barclays decreased their target price on Cencora from $425.00 to $350.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. Eleven 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $367.75.

Cencora 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.