Kentucky Retirement Systems Trims Holdings in Cencora, Inc. (NYSE:COR)

Kentucky Retirement Systems lowered its holdings in shares of Cencora, Inc. (NYSE:COR) by 2.6% in the third quarter, Holdings Channel reports. The firm owned 12,153 shares of the company’s stock after selling 322 shares during the quarter. Kentucky Retirement Systems’ holdings in Cencora were worth $2,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of COR. New Millennium Group LLC purchased a new stake in shares of Cencora during the second quarter worth approximately $26,000. TFO Wealth Partners LLC acquired a new position in shares of Cencora during the first quarter worth about $30,000. MFA Wealth Advisors LLC purchased a new position in Cencora during the second quarter worth about $30,000. Concord Wealth Partners acquired a new position in Cencora during the 3rd quarter worth approximately $30,000. Finally, LRI Investments LLC purchased a new position in shares of Cencora during the 1st quarter worth approximately $31,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on COR. Barclays upped their price target on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Bank of America reaffirmed a “neutral” rating and set a $245.00 price target (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Wells Fargo & Company raised their target price on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Evercore ISI increased their price target on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $271.20.

Cencora Stock Performance

NYSE COR opened at $240.24 on Monday. The business’s 50-day moving average price is $232.62 and its 200 day moving average price is $231.03. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. Cencora, Inc. has a twelve month low of $194.23 and a twelve month high of $251.56. The company has a market capitalization of $47.34 billion, a PE ratio of 31.99, a price-to-earnings-growth ratio of 1.60 and a beta of 0.44.

Cencora Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.55 dividend. The ex-dividend date is Friday, November 15th. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 0.92%. Cencora’s dividend payout ratio (DPR) is currently 27.16%.

Insider Activity at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the sale, the chairman now directly owns 285,088 shares in the company, valued at $67,223,750.40. This represents a 7.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 15.80% of the stock is owned by insiders.

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.