Retirement Systems of Alabama Sells 883 Shares of Cencora, Inc. (NYSE:COR)

Retirement Systems of Alabama reduced its stake in Cencora, Inc. (NYSE:COR - Free Report) by 2.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,086 shares of the company's stock after selling 883 shares during the period. Retirement Systems of Alabama's holdings in Cencora were worth $10,313,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Cencora by 0.9% during the fourth 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 purchasing an additional 78,066 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Cencora by 62.3% during the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock valued at $1,166,944,000 after purchasing an additional 1,994,256 shares in the last quarter. Boston Partners boosted its stake in shares of Cencora by 2.6% during the fourth quarter. Boston Partners now owns 5,007,100 shares of the company's stock valued at $1,128,058,000 after purchasing an additional 125,611 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of 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. boosted its stake in shares of Cencora by 20.4% during the fourth quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock valued at $728,757,000 after purchasing an additional 550,246 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on COR. Morgan Stanley set a $288.00 target price on shares of Cencora in a research report on Tuesday, April 15th. Bank of America increased their target price 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. UBS Group raised their price target on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Wall Street Zen raised shares of Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Finally, Citigroup raised their price target on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $306.91.

Cencora Trading Down 1.0%

Shares of Cencora stock opened at $293.66 on Monday. 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 has a fifty day moving average price of $288.98 and a 200 day moving average price of $263.42. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35. The stock has a market cap of $56.92 billion, a PE ratio of 34.07, a price-to-earnings-growth ratio of 1.45 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $75.50 billion during the quarter, compared to analysts' expectations of $75.41 billion. During the same quarter last year, the company posted $3.80 earnings per share. The firm's revenue was up 10.3% compared to the same quarter last year. Equities research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

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

Insider Activity at Cencora

In related news, Chairman Steven H. Collis sold 14,578 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the sale, the chairman now owns 317,913 shares in the company, valued at approximately $85,680,732.63. This trade represents a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert P. Mauch sold 4,969 shares of the firm's stock in a transaction on 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 sale, the chief executive officer now owns 47,582 shares in the company, valued at approximately $13,766,900.06. This represents a 9.46% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,126 shares of company stock worth $9,475,106. 10.80% of the stock is owned by company insiders.

Cencora Company Profile

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.

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