Cencora, Inc. $COR Stake Lessened by State of Alaska Department of Revenue

Key Points

• The State of Alaska Department of Revenue cut its stake in Cencora by 34.5% in Q4, selling 12,839 shares and finishing the period with 24,338 shares valued at about $8.22 million.
• CEO Robert P. Mauch sold 5,096 shares on January 20 at an average price of $354.73 (a 7.1% ownership decrease), leaving him with 66,726 shares worth roughly $23.67 million.
• Analysts maintain a consensus "Moderate Buy" on Cencora with an average price target of $398.17; the company recently beat EPS estimates ($4.08 vs. $4.04) and has a market cap near $62.05 billion.

State of Alaska Department of Revenue lessened its stake in Cencora, Inc. (NYSE:COR - Free Report) by 34.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,338 shares of the company's stock after selling 12,839 shares during the period. State of Alaska Department of Revenue's holdings in Cencora were worth $8,219,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in COR. United Bank increased its stake in shares of Cencora by 4.5% in the second quarter. United Bank now owns 7,032 shares of the company's stock worth $2,109,000 after buying an additional 305 shares during the last quarter. Nebula Research & Development LLC bought a new stake in shares of Cencora in the second quarter worth $595,000. Treasurer of the State of North Carolina increased its stake in shares of Cencora by 7.9% in the second quarter. Treasurer of the State of North Carolina now owns 85,534 shares of the company's stock worth $25,647,000 after buying an additional 6,244 shares during the last quarter. Diversify Advisory Services LLC increased its stake in shares of Cencora by 94.1% in the second quarter. Diversify Advisory Services LLC now owns 2,585 shares of the company's stock worth $747,000 after buying an additional 1,253 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Cencora by 26.0% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 73,452 shares of the company's stock worth $22,025,000 after buying an additional 15,154 shares during the last quarter. Institutional investors own 97.52% of the company's stock.

Insider Activity

In other news, CEO Robert P. Mauch sold 5,096 shares of the business's stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $354.73, for a total transaction of $1,807,704.08. Following the completion of the transaction, the chief executive officer owned 66,726 shares of the company's stock, valued at approximately $23,669,713.98. The trade was a 7.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Robert W. Baird set a $415.00 price target on shares of Cencora in a research note on Tuesday, January 13th. Barclays boosted their target price on shares of Cencora from $400.00 to $425.00 and gave the company an "overweight" rating in a research note on Friday, February 13th. Morgan Stanley set a $380.00 target price on shares of Cencora in a research note on Tuesday, March 17th. Bank of America lowered their target price on shares of Cencora from $380.00 to $360.00 and set a "neutral" rating for the company in a research note on Monday, January 5th. Finally, Evercore set a $360.00 target price on shares of Cencora in a research note on Wednesday, April 8th. Twelve analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $398.17.

Cencora Stock Down 0.6%

COR stock opened at $318.96 on Tuesday. The company has a debt-to-equity ratio of 3.62, a current ratio of 0.92 and a quick ratio of 0.51. Cencora, Inc. has a 1-year low of $271.00 and a 1-year high of $377.54. The firm has a fifty day moving average price of $344.46 and a two-hundred day moving average price of $342.97. The firm has a market cap of $62.05 billion, a price-to-earnings ratio of 38.34, a PEG ratio of 1.50 and a beta of 0.72.

Cencora (NYSE:COR - Get Free Report) last released its earnings results on Wednesday, February 4th. The company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $4.04 by $0.04. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The firm had revenue of $85.93 billion during the quarter, compared to analyst estimates of $86.12 billion. During the same quarter in the previous year, the firm earned $3.73 earnings per share. The firm's revenue for the quarter was up 5.5% compared to the same quarter last year. Research analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. Cencora's payout ratio is 28.85%.

About Cencora

Cencora NYSE: COR is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company's core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.

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