California State Teachers Retirement System Reduces Stock Holdings in Cencora, Inc. (NYSE:COR)

California State Teachers Retirement System reduced its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 297,230 shares of the company's stock after selling 4,241 shares during the quarter. California State Teachers Retirement System owned about 0.15% of Cencora worth $66,782,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. JFS Wealth Advisors LLC raised its holdings in shares of 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 acquiring an additional 46 shares in the last quarter. Banque Transatlantique SA purchased a new position in shares of Cencora in the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. purchased a new position in Cencora in the fourth quarter worth $30,000. Kentucky Trust Co purchased a new position in Cencora during the 4th quarter worth $33,000. Finally, WASHINGTON TRUST Co increased its position in Cencora by 37.7% during the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company's stock valued at $38,000 after buying an additional 46 shares in the last quarter. 97.52% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Robert P. Mauch sold 4,970 shares of Cencora stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 51,070 shares of the company's stock, valued at $13,022,850. The trade was a 8.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Steven H. Collis sold 14,578 shares of the firm's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the completion of the transaction, the chairman now directly owns 317,913 shares in the company, valued at approximately $85,680,732.63. This represents a 4.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,223 shares of company stock worth $12,369,767 in the last quarter. Corporate insiders own 10.80% of the company's stock.

Analyst Upgrades and Downgrades

COR has been the subject of several recent analyst reports. Evercore ISI raised their price target on Cencora from $270.00 to $280.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Wall Street Zen upgraded shares of Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. UBS Group upped their price target on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Morgan Stanley set a $288.00 price target on shares of Cencora in a report on Tuesday, April 15th. Finally, Bank of America lifted their price objective on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research note on Friday, April 11th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $301.18.

Cencora Stock Performance

Shares of COR stock traded up $0.80 during trading hours on Friday, hitting $291.49. The company's stock had a trading volume of 3,890,003 shares, compared to its average volume of 1,537,835. The stock has a market cap of $56.50 billion, a PE ratio of 41.46, a price-to-earnings-growth ratio of 1.31 and a beta of 0.60. The company has a 50 day moving average of $284.83 and a 200 day moving average of $258.71. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $309.35. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.07 by $0.35. Cencora had a return on equity of 328.62% and a net margin of 0.46%. The company had revenue of $75.50 billion during the quarter, compared to the consensus estimate of $75.41 billion. During the same period in the previous year, the company posted $3.80 earnings per share. Cencora's revenue for the quarter was up 10.3% on a year-over-year basis. On average, sell-side analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 16th will be given a dividend of $0.55 per share. The ex-dividend date is Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a yield of 0.75%. Cencora's dividend payout ratio is currently 25.52%.

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.