Retirement Systems of Alabama Takes Position in Cencora, Inc. (NYSE:COR)

Retirement Systems of Alabama purchased a new stake in Cencora, Inc. (NYSE:COR) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 36,544 shares of the company’s stock, valued at approximately $8,880,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Cairn Investment Group Inc. acquired a new stake in shares of Cencora in the first quarter valued at about $2,294,000. Hennion & Walsh Asset Management Inc. acquired a new stake in Cencora in the first quarter valued at approximately $1,862,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in shares of Cencora during the first quarter worth $13,090,000. NBC Securities Inc. purchased a new position in shares of Cencora in the first quarter valued at $976,000. Finally, Park Avenue Securities LLC acquired a new stake in Cencora during the 1st quarter valued at $2,114,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on COR shares. SVB Leerink reiterated an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a report on Thursday, June 27th. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Citigroup lifted their price objective on Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Finally, Robert W. Baird increased their target price on Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.30.

Cencora Stock Performance

NYSE COR traded up $0.18 during trading hours on Friday, reaching $222.68. The company’s stock had a trading volume of 830,572 shares, compared to its average volume of 1,399,658. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.41. The business has a 50-day simple moving average of $227.90 and a 200 day simple moving average of $228.39. Cencora, Inc. has a 52 week low of $171.65 and a 52 week high of $246.75. The stock has a market cap of $44.41 billion, a PE ratio of 24.34, a PEG ratio of 1.55 and a beta of 0.45.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.65 by $0.15. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The business had revenue of $68.41 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter last year, the business posted $3.50 EPS. The business’s revenue was up 7.8% on a year-over-year basis. Equities research analysts predict that Cencora, Inc. will post 13.44 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were issued a $0.51 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.92%. Cencora’s dividend payout ratio (DPR) is presently 22.32%.

Insider Activity at Cencora

In other news, Director Dermot Mark Durcan bought 500 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was purchased at an average price of $218.58 per share, for a total transaction of $109,290.00. Following the transaction, the director now owns 21,876 shares in the company, valued at $4,781,656.08. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Steven H. Collis sold 10,754 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $237.48, for a total value of $2,553,859.92. Following the completion of the transaction, the chief executive officer now owns 285,088 shares in the company, valued at approximately $67,702,698.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dermot Mark Durcan purchased 500 shares of Cencora stock in a transaction dated Friday, May 24th. The stock was bought at an average cost of $218.58 per share, with a total value of $109,290.00. Following the completion of the purchase, the director now owns 21,876 shares in the company, valued at approximately $4,781,656.08. The disclosure for this purchase can be found here. Insiders have sold a total of 1,956,675 shares of company stock worth $422,352,056 in the last ninety days. 15.80% of the stock is owned by insiders.

Cencora Company Profile

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.