Kentucky Retirement Systems Insurance Trust Fund Decreases Stock Holdings in Cencora, Inc. (NYSE:COR)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in shares of Cencora, Inc. (NYSE:COR) by 38.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,038 shares of the company’s stock after selling 3,108 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Cencora were worth $1,401,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Dynamic Advisor Solutions LLC lifted its position in shares of Cencora by 6.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 1,535 shares of the company’s stock valued at $427,000 after buying an additional 93 shares during the last quarter. Westpac Banking Corp lifted its position in shares of Cencora by 13.5% during the fourth quarter. Westpac Banking Corp now owns 21,895 shares of the company’s stock valued at $4,919,000 after buying an additional 2,596 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Cencora by 4.5% during the first quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company’s stock valued at $307,000 after buying an additional 48 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. lifted its position in shares of Cencora by 5.2% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 82,952 shares of the company’s stock valued at $18,638,000 after buying an additional 4,126 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. lifted its position in shares of Cencora by 1.7% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 66,500 shares of the company’s stock valued at $14,941,000 after buying an additional 1,100 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Price Performance

Shares of NYSE:COR opened at $293.66 on Monday. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35. The company’s 50 day moving average is $288.98 and its 200 day moving average is $263.42. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01. The company has a market cap of $56.92 billion, a PE ratio of 34.07, a price-to-earnings-growth ratio of 1.45 and a beta of 0.58.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, topping the consensus estimate of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The company had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. During the same quarter in the prior year, the company earned $3.80 EPS. Cencora’s quarterly revenue was up 10.3% on a year-over-year basis. On average, sell-side analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 annualized dividend and a yield of 0.75%. Cencora’s dividend payout ratio (DPR) is presently 25.52%.

Insider Buying and Selling

In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of the company’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $289.33, for a total value of $1,437,680.77. Following the sale, the chief executive officer now owns 47,582 shares in the company, valued at approximately $13,766,900.06. This represents a 9.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Steven H. Collis sold 14,578 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $269.51, for a total value of $3,928,916.78. Following the completion of the sale, the chairman now owns 317,913 shares in the company, valued at approximately $85,680,732.63. This represents a 4.38% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,126 shares of company stock worth $9,475,106. 10.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on COR. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. UBS Group upped their price objective on shares of Cencora from $298.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Wells Fargo & Company upgraded shares of Cencora from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $274.00 to $337.00 in a report on Tuesday, June 3rd. Morgan Stanley set a $288.00 price objective on shares of Cencora in a report on Tuesday, April 15th. Finally, Robert W. Baird upped their price objective on shares of Cencora from $314.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $306.91.

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.