Cencora, Inc. $COR Shares Bought by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in Cencora, Inc. by 7.5%, acquiring an additional 1,645 shares, bringing its total holdings to 23,485 shares valued at approximately $6.53 million.
• CEO Robert P. Mauch and Chairman Steven H. Collis both sold shares recently, with Mauch selling 4,968 shares and Collis selling 14,579 shares, indicating a 10.50% and 4.47% decrease in their respective positions.
• Cencora announced a quarterly dividend of $0.55 per share, scheduled to be paid on September 3rd, representing an annualized yield of 0.8%.

Public Sector Pension Investment Board raised its stake in Cencora, Inc. (NYSE:COR - Free Report) by 7.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 23,485 shares of the company's stock after purchasing an additional 1,645 shares during the period. Public Sector Pension Investment Board's holdings in Cencora were worth $6,531,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of COR. Cornerstone Planning Group LLC increased its position in shares of Cencora by 106.7% in the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after purchasing an additional 48 shares during the last quarter. Hoey Investments Inc. bought a new stake in shares of Cencora in the 1st quarter worth about $28,000. Costello Asset Management INC bought a new stake in shares of Cencora in the 1st quarter worth about $28,000. Banque Transatlantique SA bought a new stake in shares of Cencora in the 4th quarter worth about $29,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Cencora in the 4th quarter worth about $38,000. Institutional investors own 97.52% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on COR shares. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Wells Fargo & Company lifted their price target on shares of Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Jefferies Financial Group lifted their price target on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a report on Monday, June 30th. Robert W. Baird lifted their price target on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, UBS Group lifted their price target on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $311.25.

Insider Transactions at Cencora

In other Cencora news, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the completion of the transaction, the chairman directly owned 311,913 shares of the company's stock, valued at $91,271,982.06. The trade was a 4.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert P. Mauch sold 4,968 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the transaction, the chief executive officer directly owned 42,351 shares of the company's stock, valued at $12,455,852.61. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,125 shares of company stock valued at $9,993,789 over the last three months. 10.80% of the stock is currently owned by company insiders.

Cencora Stock Performance

Shares of NYSE COR traded down $0.3310 during midday trading on Thursday, hitting $303.3590. The company's stock had a trading volume of 2,248,170 shares, compared to its average volume of 1,262,727. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. The firm's fifty day moving average price is $293.54 and its 200-day moving average price is $280.16. The firm has a market cap of $58.82 billion, a P/E ratio of 31.21, a P/E/G ratio of 1.44 and a beta of 0.58. 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 posted its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.79 by $0.21. The firm had revenue of $80.66 billion during the quarter, compared to analyst estimates of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. Cencora's revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the business posted $3.34 EPS. On average, sell-side analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, August 15th. Cencora's payout ratio is presently 22.63%.

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.