California Public Employees Retirement System Sells 12,201 Shares of Cencora, Inc. (NYSE:COR)

California Public Employees Retirement System lowered its position in shares of Cencora, Inc. (NYSE:COR) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 787,745 shares of the company’s stock after selling 12,201 shares during the period. California Public Employees Retirement System’s holdings in Cencora were worth $176,991,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Whittier Trust Co. lifted its position in shares of Cencora by 0.6% in the 4th quarter. Whittier Trust Co. now owns 7,856 shares of the company’s stock worth $1,765,000 after purchasing an additional 44 shares during the period. Shepherd Financial Partners LLC raised its stake in Cencora by 0.9% in the fourth quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company’s stock worth $1,223,000 after buying an additional 46 shares in the last quarter. WASHINGTON TRUST Co lifted its holdings in Cencora by 37.7% in the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock worth $38,000 after buying an additional 46 shares during the period. JFS Wealth Advisors LLC boosted its position in Cencora by 63.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after acquiring an additional 46 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its holdings 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. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Price Performance

COR opened at $275.16 on Monday. The company’s 50-day simple moving average is $253.81 and its two-hundred day simple moving average is $241.24. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. The stock has a market capitalization of $53.36 billion, a P/E ratio of 39.14, a P/E/G ratio of 1.31 and a beta of 0.51. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $275.57.

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

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Friday, February 14th. Cencora’s dividend payout ratio is 31.29%.

Insiders Place Their Bets

In related news, EVP Silvana Battaglia sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the transaction, the executive vice president now owns 15,374 shares of the company’s stock, valued at approximately $3,724,197.76. This trade represents a 24.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert P. Mauch sold 4,970 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $255.00, for a total transaction of $1,267,350.00. Following the sale, the chief executive officer now directly owns 51,070 shares of the company’s stock, valued at approximately $13,022,850. This represents a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,675 shares of company stock valued at $8,034,778. Insiders own 10.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on COR. StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Wells Fargo & Company upped their price objective on shares of Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. JPMorgan Chase & Co. raised their target price on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Evercore ISI upped 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. Finally, Mizuho started coverage on Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective for the company. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $280.20.

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.