Cencora, Inc. $COR Shares Acquired by State of Alaska Department of Revenue

Key Points

• Alaska’s Department of Revenue increased its Cencora stake by 56.1% in the third quarter, owning 36,891 shares valued at approximately $11.1 million. Institutional investors collectively hold 97.52% of the company’s stock.
• Cencora reported quarterly earnings of $4.48 per share, exceeding estimates of $4.35, while revenue rose 5.1% year over year to $84.75 billion. The company also pays a quarterly dividend of $0.60, equivalent to a 0.7% annual yield.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and four Hold ratings producing a consensus “Moderate Buy” rating and a $365.69 target price, compared with the stock’s $341.10 opening price.

State of Alaska Department of Revenue raised its position in Cencora, Inc. (NYSE:COR - Free Report) by 56.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 36,891 shares of the company's stock after acquiring an additional 13,256 shares during the period. State of Alaska Department of Revenue's holdings in Cencora were worth $11,077,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Cencora during the 2nd quarter worth approximately $5,154,136,000. T. Rowe Price Investment Management Inc. lifted its position in shares of Cencora by 160.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company's stock worth $2,262,956,000 after purchasing an additional 4,123,795 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Cencora by 6.9% in the first quarter. Bank of America Corp DE now owns 4,138,388 shares of the company's stock worth $1,300,033,000 after purchasing an additional 267,318 shares in the last quarter. Amundi lifted its position in shares of Cencora by 43.5% in the second quarter. Amundi now owns 2,229,326 shares of the company's stock worth $630,855,000 after purchasing an additional 676,066 shares in the last quarter. Finally, Carmignac Gestion lifted its position in shares of Cencora by 58.7% in the second quarter. Carmignac Gestion now owns 1,747,363 shares of the company's stock worth $494,463,000 after purchasing an additional 646,112 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company's stock.

Insider Activity

In other news, EVP Elizabeth Campbell sold 11,300 shares of Cencora stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the transaction, the executive vice president directly owned 19,455 shares in the company, valued at approximately $6,305,754.60. The trade was a 36.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.38% of the stock is currently owned by insiders.

Cencora Stock Up 1.5%

Shares of COR stock opened at $341.10 on Friday. Cencora, Inc. has a 52-week low of $244.82 and a 52-week high of $377.54. The stock has a market cap of $65.09 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 1.72 and a beta of 0.58. The firm's 50-day moving average is $319.98 and its 200-day moving average is $303.08. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 EPS for the quarter, topping analysts' consensus estimates of $4.35 by $0.13. The business had revenue of $84.75 billion during the quarter, compared to analysts' expectations of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%. Cencora's quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company posted $4.00 earnings per share. Sell-side analysts predict that Cencora, Inc. will post 17.87 EPS for the current year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 14th. Cencora's dividend payout ratio (DPR) is presently 17.83%.

Analyst Upgrades and Downgrades

COR has been the subject of several recent research reports. Weiss Ratings upgraded shares of Cencora from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, October 6th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $330.00 price target on shares of Cencora in a research note on Tuesday, September 8th. Wells Fargo & Company lifted their price target on shares of Cencora from $331.00 to $395.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. UBS Group boosted their price target on shares of Cencora from $412.00 to $430.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Finally, Citigroup restated a "buy" rating on shares of Cencora in a research note on Thursday, August 6th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Cencora presently has a consensus rating of "Moderate Buy" and a consensus target price of $365.69.

About Cencora

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical solutions company that sources, distributes and supports the delivery of medicines and healthcare products. The company serves pharmaceutical manufacturers, healthcare providers, pharmacies and animal-health customers through its supply-chain and commercialization services.

Its activities include pharmaceutical and specialty-product distribution, manufacturer services, specialty logistics, clinical-trial support, patient-support programs and other services designed to help bring medicines to market and improve access to treatment.

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