Maryland State Retirement & Pension System Sells 766 Shares of Cencora, Inc. (NYSE:COR)

Maryland State Retirement & Pension System lowered its stake in Cencora, Inc. (NYSE:COR) by 8.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,868 shares of the company’s stock after selling 766 shares during the period. Maryland State Retirement & Pension System’s holdings in Cencora were worth $1,992,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JFS Wealth Advisors LLC lifted its position in Cencora by 63.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 46 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Cencora in the fourth quarter valued at approximately $30,000. Kentucky Trust Co bought a new stake in Cencora in the fourth quarter valued at approximately $33,000. Householder Group Estate & Retirement Specialist LLC lifted its position in Cencora by 85.2% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock valued at $33,000 after purchasing an additional 69 shares during the last quarter. Finally, WASHINGTON TRUST Co lifted its position in Cencora by 37.7% in the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock valued at $38,000 after purchasing an additional 46 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

Insider Transactions at Cencora

In other news, CAO Lazarus Krikorian sold 2,000 shares of the stock in a transaction 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 sale, the chief accounting officer now directly owns 20,154 shares of the company’s stock, valued at approximately $5,241,249.24. This represents a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert P. Mauch sold 4,970 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $255.00, for a total value of $1,267,350.00. Following the completion of the sale, the chief executive officer now directly owns 51,070 shares in the company, 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 11,970 shares of company stock valued at $2,998,670. Insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Evercore ISI boosted their price objective on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Mizuho began coverage on Cencora in a research note on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Wells Fargo & Company boosted their target price on Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Finally, StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cencora has a consensus rating of “Moderate Buy” and a consensus target price of $280.20.

Cencora Price Performance

Shares of COR stock opened at $266.91 on Friday. The stock has a market cap of $51.76 billion, a price-to-earnings ratio of 37.97, a PEG ratio of 1.31 and a beta of 0.51. The business’s fifty day moving average is $250.62 and its 200 day moving average is $240.06. Cencora, Inc. has a twelve month low of $214.77 and a twelve month high of $271.08. 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 issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping 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%. Research analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.82%. 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.