PNC Financial Services Group Inc. Has $62.53 Million Stock Holdings in Cencora, Inc. $COR

PNC Financial Services Group Inc. trimmed its holdings in Cencora, Inc. (NYSE:COR) by 1.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 208,528 shares of the company’s stock after selling 4,128 shares during the quarter. PNC Financial Services Group Inc. owned about 0.11% of Cencora worth $62,527,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in COR. Voleon Capital Management LP acquired a new position in Cencora during the 1st quarter worth $3,111,000. Focus Partners Wealth increased its stake in shares of Cencora by 25.8% in the 1st quarter. Focus Partners Wealth now owns 5,715 shares of the company’s stock valued at $1,589,000 after buying an additional 1,171 shares during the period. Acadian Asset Management LLC raised its position in shares of Cencora by 947.5% during the second quarter. Acadian Asset Management LLC now owns 257,082 shares of the company’s stock worth $77,069,000 after acquiring an additional 232,539 shares during the last quarter. Martin Capital Partners LLC lifted its stake in shares of Cencora by 205.2% during the second quarter. Martin Capital Partners LLC now owns 3,784 shares of the company’s stock valued at $1,135,000 after acquiring an additional 2,544 shares during the period. Finally, Fiduciary Alliance LLC acquired a new position in shares of Cencora during the second quarter valued at $262,000. Institutional investors own 97.52% of the company’s stock.

Cencora Stock Performance

Shares of COR stock opened at $365.06 on Friday. The stock has a market cap of $70.78 billion, a PE ratio of 37.56, a price-to-earnings-growth ratio of 1.56 and a beta of 0.63. The stock has a 50-day moving average of $319.97 and a 200-day moving average of $301.57. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. Cencora, Inc. has a one year low of $223.92 and a one year high of $366.17.

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

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid 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 yield of 0.7%. Cencora’s payout ratio is presently 30.19%.

Insider Activity

In related news, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction that occurred 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 directly owned 305,913 shares of the company’s stock, valued at approximately $88,671,942.18. This represents a 9.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert P. Mauch sold 5,097 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer owned 37,940 shares in the company, valued at $12,398,792. This trade represents a 11.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 41,544 shares of company stock valued at $12,230,941 over the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Robert W. Baird lifted their price objective on Cencora from $355.00 to $395.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. TD Cowen raised their target price on shares of Cencora from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Monday. UBS Group lifted their price target on shares of Cencora from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Evercore ISI set a $400.00 price objective on shares of Cencora and gave the company an “outperform” rating in a report on Thursday, November 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Cencora from $344.00 to $417.00 and gave the company an “overweight” rating in a research note on Tuesday. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and a consensus price target of $371.09.

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.