Maryland State Retirement & Pension System Decreases Holdings in Cencora, Inc. (NYSE:COR)

Maryland State Retirement & Pension System cut its holdings in shares of Cencora, Inc. (NYSE:COR) by 8.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,868 shares of the company’s stock after selling 766 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Cencora were worth $1,992,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Shepherd Financial Partners LLC increased its position in shares of Cencora by 0.9% during the 4th quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company’s stock valued at $1,223,000 after purchasing an additional 46 shares during the last quarter. WASHINGTON TRUST Co grew its stake in shares of Cencora by 37.7% during the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock worth $38,000 after acquiring an additional 46 shares during the period. JFS Wealth Advisors LLC grew its stake in shares of Cencora by 63.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after acquiring an additional 46 shares during the period. Cullen Frost Bankers Inc. grew its stake in shares of Cencora by 1.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 4,463 shares of the company’s stock worth $1,003,000 after acquiring an additional 47 shares during the period. Finally, Trilogy Capital Inc. grew its stake in shares of Cencora by 5.1% during the 4th quarter. Trilogy Capital Inc. now owns 1,038 shares of the company’s stock worth $233,000 after acquiring an additional 50 shares during the period. 97.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COR has been the subject of several research reports. Evercore ISI increased their price target on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Mizuho initiated coverage on Cencora in a research note on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target for the company. Wells Fargo & Company increased their price target on Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. JPMorgan Chase & Co. raised 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. Finally, StockNews.com upgraded Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $280.20.

Insider Buying and Selling at Cencora

In related news, CAO Lazarus Krikorian sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $260.06, for a total value of $520,120.00. Following the completion of the sale, the chief accounting officer now owns 20,154 shares in the company, valued at $5,241,249.24. The trade was a 9.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Silvana Battaglia sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $242.24, for a total value of $1,211,200.00. Following the completion of the sale, the executive vice president now owns 15,374 shares of the company’s stock, valued at $3,724,197.76. The trade was a 24.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,970 shares of company stock valued at $2,998,670 in the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Cencora Stock Performance

NYSE:COR opened at $266.91 on Friday. The business’s 50-day moving average price is $250.62 and its two-hundred day moving average price is $240.06. Cencora, Inc. has a twelve month low of $214.77 and a twelve month high of $271.08. The stock has a market cap of $51.76 billion, a P/E ratio of 37.97, a PEG ratio of 1.31 and a beta of 0.51. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, beating the consensus estimate 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 predict 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 Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 0.82%. Cencora’s 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.