Cencora, Inc. $COR Stock Holdings Increased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System boosted its position in Cencora, Inc. (NYSE:COR) by 9.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 8,899 shares of the company’s stock after buying an additional 788 shares during the period. Maryland State Retirement & Pension System’s holdings in Cencora were worth $2,668,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. grew its holdings in shares of Cencora by 42.1% during the first quarter. Invesco Ltd. now owns 4,607,964 shares of the company’s stock valued at $1,281,429,000 after purchasing an additional 1,364,433 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Cencora by 4,459.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 997,233 shares of the company’s stock valued at $277,321,000 after purchasing an additional 975,362 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Cencora by 8.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company’s stock valued at $2,682,821,000 after purchasing an additional 787,858 shares during the last quarter. Nuveen LLC bought a new position in shares of Cencora during the first quarter valued at approximately $181,284,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Cencora by 144.4% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 743,072 shares of the company’s stock valued at $206,641,000 after purchasing an additional 439,008 shares during the last quarter. 97.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

COR has been the subject of several recent research reports. Evercore ISI set a $340.00 target price on Cencora in a report on Wednesday. Jefferies Financial Group boosted their price objective on Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research report on Monday, June 30th. Wall Street Zen downgraded Cencora from a “buy” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Company boosted their price objective on Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Finally, Morgan Stanley set a $330.00 price objective on Cencora and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $320.00.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 31,350 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total value of $9,087,111.00. Following the completion of the sale, the chairman directly owned 305,913 shares in the company, valued at $88,671,942.18. This represents a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert P. Mauch sold 5,097 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $290.00, for a total value of $1,478,130.00. Following the completion of the sale, the chief executive officer owned 39,274 shares of the company’s stock, valued at $11,389,460. This trade represents a 11.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,993 shares of company stock valued at $16,292,923 over the last 90 days. 10.80% of the stock is currently owned by insiders.

Cencora Stock Performance

COR opened at $318.01 on Friday. The company has a market capitalization of $61.66 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 1.47 and a beta of 0.63. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. Cencora, Inc. has a 1-year low of $221.95 and a 1-year high of $319.68. The business has a 50 day moving average price of $296.99 and a two-hundred day moving average price of $291.60.

Cencora (NYSE:COR) last released its earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, topping analysts’ consensus estimates of $3.79 by $0.21. The firm had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.34 earnings per share. Research analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, August 15th. Cencora’s dividend payout ratio is 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.