Kentucky Retirement Systems Insurance Trust Fund Sells 3,108 Shares of Cencora, Inc. (NYSE:COR)

Kentucky Retirement Systems Insurance Trust Fund cut its stake in Cencora, Inc. (NYSE:COR - Free Report) by 38.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,038 shares of the company's stock after selling 3,108 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Cencora were worth $1,401,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Cencora by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company's stock valued at $1,990,542,000 after buying an additional 78,066 shares during the period. Bank of America Corp DE increased its stake in shares of Cencora by 62.3% in the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock worth $1,166,944,000 after purchasing an additional 1,994,256 shares in the last quarter. Boston Partners raised its holdings in Cencora by 2.6% in the 4th quarter. Boston Partners now owns 5,007,100 shares of the company's stock worth $1,128,058,000 after purchasing an additional 125,611 shares during the period. Geode Capital Management LLC lifted its position in Cencora by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company's stock valued at $969,471,000 after purchasing an additional 130,213 shares in the last quarter. Finally, Invesco Ltd. increased its position in Cencora by 20.4% in the fourth quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock worth $728,757,000 after buying an additional 550,246 shares in the last quarter. Institutional investors own 97.52% of the company's stock.

Cencora Trading Up 0.4%

Shares of Cencora stock traded up $1.03 on Tuesday, reaching $294.16. The company had a trading volume of 1,183,232 shares, compared to its average volume of 1,520,444. The firm has a market cap of $57.01 billion, a price-to-earnings ratio of 34.13, a P/E/G ratio of 1.45 and a beta of 0.58. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52. The firm's 50-day moving average price is $289.36 and its two-hundred day moving average price is $263.98. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35.

Cencora (NYSE:COR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, beating the consensus estimate of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The business had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. During the same quarter in the prior year, the firm posted $3.80 earnings per share. The business's revenue for the quarter was up 10.3% on a year-over-year basis. As a group, research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 annualized dividend and a dividend yield of 0.75%. Cencora's dividend payout ratio (DPR) is presently 25.52%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Citigroup increased their target price on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Bank of America raised their price objective on shares of Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research report on Friday, April 11th. Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Morgan Stanley set a $288.00 target price on shares of Cencora in a report on Tuesday, April 15th. Finally, Wall Street Zen upgraded shares of Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, Cencora presently has an average rating of "Moderate Buy" and a consensus price target of $306.91.

Insider Activity

In related news, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the completion of the sale, the chief executive officer now owns 47,582 shares in the company, valued at $13,766,900.06. This trade represents a 9.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the company's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the completion of the transaction, the chairman now owns 315,913 shares in the company, valued at $89,027,442.53. This represents a 4.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.80% 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.