State of New Jersey Common Pension Fund D Sells 8,830 Shares of Cencora, Inc. (NYSE:COR)

State of New Jersey Common Pension Fund D reduced its stake in shares of Cencora, Inc. (NYSE:COR) by 13.7% in the first quarter, HoldingsChannel.com reports. The fund owned 55,406 shares of the company’s stock after selling 8,830 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Cencora were worth $15,408,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC lifted its stake in Cencora by 106.7% in the first 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 Cencora in the first quarter worth $28,000. Costello Asset Management INC purchased a new stake in shares of Cencora during the first quarter worth about $28,000. Banque Transatlantique SA bought a new stake in shares of Cencora in the fourth quarter worth about $29,000. Finally, Vermillion Wealth Management Inc. purchased a new position in Cencora during the 4th quarter valued at about $38,000. 97.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

COR has been the topic of a number of research analyst reports. UBS Group boosted their price target on Cencora from $298.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Robert W. Baird increased their price target on shares of Cencora from $314.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Citigroup increased their price target on shares of Cencora from $330.00 to $355.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the stock an “equal weight” rating in a research note on Wednesday, July 16th. Finally, Jefferies Financial Group increased their price target on shares of Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research note on Monday, June 30th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $311.25.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total value of $4,266,106.98. Following the transaction, the chairman directly owned 311,913 shares in the company, valued at approximately $91,271,982.06. This trade represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert P. Mauch sold 4,968 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the completion of the transaction, the chief executive officer owned 42,351 shares in the company, 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 sold 34,125 shares of company stock worth $9,993,789 over the last quarter. Insiders own 10.80% of the company’s stock.

Cencora Trading Down 0.5%

NYSE:COR opened at $293.28 on Friday. The company’s 50 day moving average price is $292.70 and its 200-day moving average price is $279.16. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. The stock has a market cap of $56.86 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 1.39 and a beta of 0.58.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, beating analysts’ consensus estimates of $3.79 by $0.21. The company had revenue of $80.66 billion for the quarter, compared to the consensus estimate of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.34 earnings per share. On average, equities research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th will be given a $0.55 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.20 annualized dividend and a yield of 0.8%. Cencora’s dividend payout ratio (DPR) 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.