Cencora, Inc. $COR Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its stake in shares of Cencora, Inc. (NYSE:COR) by 56.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 36,891 shares of the company’s stock after buying an additional 13,256 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cencora were worth $11,077,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Turtle Creek Wealth Advisors LLC lifted its position in Cencora by 42.6% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 2,602 shares of the company’s stock worth $781,000 after acquiring an additional 777 shares during the last quarter. Nvwm LLC boosted its holdings in shares of Cencora by 44,950.0% during the third quarter. Nvwm LLC now owns 2,703 shares of the company’s stock worth $812,000 after acquiring an additional 2,697 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Cencora by 81.5% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 447,763 shares of the company’s stock worth $139,917,000 after acquiring an additional 201,057 shares during the period. Mather Group LLC. grew its position in shares of Cencora by 119.0% in the third quarter. Mather Group LLC. now owns 6,227 shares of the company’s stock valued at $1,870,000 after purchasing an additional 3,383 shares during the last quarter. Finally, Fortitude Family Office LLC grew its position in shares of Cencora by 182.2% in the third quarter. Fortitude Family Office LLC now owns 206 shares of the company’s stock valued at $62,000 after purchasing an additional 133 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

Cencora Price Performance

NYSE:COR opened at $341.10 on Friday. Cencora, Inc. has a 52 week low of $244.82 and a 52 week high of $377.54. The firm has a market cap of $65.09 billion, a price-to-earnings ratio of 19.60, a P/E/G ratio of 1.72 and a beta of 0.58. The firm’s 50-day simple moving average is $319.98 and its 200 day simple moving average is $303.08. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, topping the consensus estimate of $4.35 by $0.13. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The business had revenue of $84.75 billion during the quarter, compared to analysts’ expectations of $84.31 billion. During the same quarter in the previous year, the company earned $4.00 EPS. The business’s revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts predict that Cencora, Inc. will post 17.87 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, August 14th. Cencora’s dividend payout ratio is presently 17.83%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on COR. Weiss Ratings upgraded Cencora from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, October 6th. Royal Bank Of Canada reissued a “sector perform” rating and set a $330.00 price target on shares of Cencora in a report on Tuesday, September 8th. Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Bank of America boosted their price target on Cencora from $285.00 to $310.00 in a research note on Tuesday, July 21st. Finally, Wells Fargo & Company upped their price objective on Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $365.69.

Insider Activity at Cencora

In other news, EVP Elizabeth Campbell sold 11,300 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the transaction, the executive vice president directly owned 19,455 shares of the company’s stock, valued at approximately $6,305,754.60. This trade represents a 36.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Cencora Profile

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical solutions company that sources, distributes and supports the delivery of medicines and healthcare products. The company serves pharmaceutical manufacturers, healthcare providers, pharmacies and animal-health customers through its supply-chain and commercialization services.

Its activities include pharmaceutical and specialty-product distribution, manufacturer services, specialty logistics, clinical-trial support, patient-support programs and other services designed to help bring medicines to market and improve access to treatment.