New York State Common Retirement Fund Reduces Position in Cencora, Inc. (NYSE:COR)

New York State Common Retirement Fund lowered its stake in Cencora, Inc. (NYSE:COR) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,358 shares of the company’s stock after selling 6,359 shares during the period. New York State Common Retirement Fund owned 0.06% of Cencora worth $25,245,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in COR. Kestra Investment Management LLC raised its stake in Cencora by 46.2% in the 4th quarter. Kestra Investment Management LLC now owns 3,441 shares of the company’s stock worth $773,000 after acquiring an additional 1,087 shares during the last quarter. Atria Wealth Solutions Inc. raised its stake in shares of Cencora by 31.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 9,621 shares of the company’s stock worth $2,162,000 after purchasing an additional 2,303 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of Cencora by 8.4% in the fourth quarter. Venturi Wealth Management LLC now owns 4,820 shares of the company’s stock worth $1,083,000 after purchasing an additional 373 shares during the last quarter. Citizens & Northern Corp lifted its holdings in shares of Cencora by 3.0% during the fourth quarter. Citizens & Northern Corp now owns 7,354 shares of the company’s stock worth $1,652,000 after purchasing an additional 212 shares during the period. Finally, CIBC Asset Management Inc boosted its position in Cencora by 3.3% in the fourth quarter. CIBC Asset Management Inc now owns 40,542 shares of the company’s stock valued at $9,101,000 after buying an additional 1,305 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

COR has been the subject of several research reports. Robert W. Baird lifted their price objective on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Evercore ISI boosted their target price on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Barclays increased their price target on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Wells Fargo & Company boosted their price objective on Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. upped their target price on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $277.90.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 50,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the transaction, the chairman now directly owns 326,557 shares of the company’s stock, valued at $79,670,111.29. This trade represents a 13.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the sale, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at $4,649,648.88. This represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. 10.80% of the stock is owned by corporate insiders.

Cencora Trading Down 0.8 %

COR stock opened at $241.47 on Friday. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $262.26. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The firm has a market cap of $46.83 billion, a P/E ratio of 34.35, a PEG ratio of 1.32 and a beta of 0.49. The company’s 50-day simple moving average is $239.52 and its 200-day simple moving average is $237.46.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. As a group, equities analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 0.91%. Cencora’s dividend payout ratio is currently 31.29%.

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.