Cencora, Inc. (NYSE:COR) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama increased its holdings in shares of Cencora, Inc. (NYSE:COR) by 4.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 37,987 shares of the company’s stock after acquiring an additional 1,470 shares during the period. Retirement Systems of Alabama’s holdings in Cencora were worth $8,550,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Aaron Wealth Advisors LLC purchased a new stake in shares of Cencora in the second quarter valued at approximately $205,000. Fifth Third Wealth Advisors LLC purchased a new stake in Cencora in the 2nd quarter worth $403,000. Harbour Trust & Investment Management Co raised its position in Cencora by 49.4% during the second quarter. Harbour Trust & Investment Management Co now owns 8,678 shares of the company’s stock worth $1,955,000 after acquiring an additional 2,871 shares during the period. Tevis Investment Management lifted its holdings in Cencora by 4.9% during the second quarter. Tevis Investment Management now owns 1,476 shares of the company’s stock valued at $333,000 after purchasing an additional 69 shares in the last quarter. Finally, &PARTNERS grew its position in shares of Cencora by 146.5% in the second quarter. &PARTNERS now owns 5,870 shares of the company’s stock valued at $1,323,000 after purchasing an additional 3,489 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Stock Down 0.9 %

Shares of NYSE:COR opened at $227.67 on Wednesday. Cencora, Inc. has a 52-week low of $199.37 and a 52-week high of $253.27. The stock has a market cap of $44.00 billion, a P/E ratio of 30.32, a PEG ratio of 1.54 and a beta of 0.45. The business has a fifty day moving average of $238.56 and a two-hundred day moving average of $234.21. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84.

Cencora Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.97%. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio is currently 29.29%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Evercore ISI raised their price target on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Barclays raised their target price on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Bank of America reissued a “neutral” rating and issued a $245.00 price objective (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Finally, Wells Fargo & Company lowered their target price on shares of Cencora from $249.00 to $237.00 and set an “equal weight” rating on the stock in a research note on Friday, December 13th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $275.60.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the completion of the sale, the chairman now directly owns 326,557 shares of the company’s stock, valued at approximately $79,670,111.29. This trade represents a 13.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 93,018 shares of company stock worth $22,478,942. Insiders own 15.80% of the company’s stock.

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.