Cencora, Inc. $COR Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its stake in shares of Cencora, Inc. (NYSE:COR) by 2.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,367 shares of the company’s stock after selling 840 shares during the period. State of Alaska Department of Revenue’s holdings in Cencora were worth $10,604,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. GAMMA Investing LLC lifted its holdings in Cencora by 43,561.9% in the 1st quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company’s stock valued at $444,516,000 after acquiring an additional 1,594,800 shares during the last quarter. Invesco Ltd. grew its holdings in Cencora by 42.1% in the 1st quarter. Invesco Ltd. now owns 4,607,964 shares of the company’s stock valued at $1,281,429,000 after buying an additional 1,364,433 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Cencora by 4,459.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 997,233 shares of the company’s stock worth $277,321,000 after purchasing an additional 975,362 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Cencora by 8.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company’s stock valued at $2,682,821,000 after buying an additional 787,858 shares during the period. Finally, Nuveen LLC acquired a new stake in Cencora during the first quarter valued at approximately $181,284,000. Institutional investors own 97.52% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the completion of the transaction, the chief executive officer directly owned 39,274 shares of the company’s stock, valued at approximately $11,389,460. This represents a 11.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Steven H. Collis sold 31,350 shares of the company’s stock in a transaction dated 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 transaction, the chairman owned 305,913 shares in the company, valued at approximately $88,671,942.18. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,993 shares of company stock valued at $16,292,923 in the last quarter. 10.80% of the stock is currently owned by company insiders.

Cencora Stock Up 2.7%

Shares of NYSE:COR opened at $306.94 on Friday. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $310.00. The firm has a market cap of $59.51 billion, a P/E ratio of 31.58, a PEG ratio of 1.56 and a beta of 0.62. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. The business’s 50 day simple moving average is $293.00 and its two-hundred day simple moving average is $288.59.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.21. The firm had revenue of $80.66 billion during the quarter, compared to analyst estimates of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The business’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $3.34 EPS. As a group, research analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora’s dividend payout ratio (DPR) is currently 22.63%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on COR shares. Jefferies Financial Group boosted their target price on Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research report on Monday, June 30th. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company increased their price target on Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Cencora currently has an average rating of “Moderate Buy” and a consensus target price of $311.25.

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.