Kentucky Retirement Systems Insurance Trust Fund Sells 3,108 Shares of Cencora, Inc. (NYSE:COR)

Kentucky Retirement Systems Insurance Trust Fund lessened its holdings in Cencora, Inc. (NYSE:COR) by 38.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,038 shares of the company’s stock after selling 3,108 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Cencora were worth $1,401,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of COR. Atria Wealth Solutions Inc. increased its position in Cencora by 31.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 9,621 shares of the company’s stock worth $2,162,000 after purchasing an additional 2,303 shares during the last quarter. Abound Financial LLC bought a new position in Cencora during the fourth quarter valued at $477,000. Howard Capital Management Inc. increased its position in Cencora by 31.5% during the fourth quarter. Howard Capital Management Inc. now owns 1,400 shares of the company’s stock valued at $315,000 after acquiring an additional 335 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in Cencora during the fourth quarter valued at $2,892,000. Finally, IFP Advisors Inc increased its position in Cencora by 105.0% during the fourth quarter. IFP Advisors Inc now owns 1,810 shares of the company’s stock valued at $410,000 after acquiring an additional 927 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

Cencora Stock Down 1.0%

Shares of COR opened at $293.66 on Monday. The firm has a market capitalization of $56.92 billion, a P/E ratio of 34.07, a P/E/G ratio of 1.45 and a beta of 0.58. Cencora, Inc. has a 12-month low of $218.65 and a 12-month high of $309.35. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01. The firm has a fifty day moving average price of $288.98 and a 200-day moving average price of $263.42.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.07 by $0.35. The firm had revenue of $75.50 billion during the quarter, compared to analyst estimates of $75.41 billion. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The business’s revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.80 earnings per share. Equities research analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

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

Insiders Place Their Bets

In other Cencora news, Chairman Steven H. Collis sold 14,578 shares of the stock in a transaction dated 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 transaction, the chairman now directly owns 317,913 shares in the company, valued at $85,680,732.63. This represents a 4.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert P. Mauch sold 4,969 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the transaction, the chief executive officer now owns 47,582 shares in the company, valued at approximately $13,766,900.06. The trade was a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,126 shares of company stock worth $9,475,106 in the last three months. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

COR has been the topic of a number of analyst reports. Robert W. Baird boosted their price objective on shares of Cencora from $314.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Citigroup boosted their price objective on shares of Cencora from $330.00 to $355.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Bank of America boosted their price objective 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. Morgan Stanley set a $288.00 price objective on shares of Cencora in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company upgraded shares of Cencora from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $274.00 to $337.00 in a research report on Tuesday, June 3rd. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Cencora has an average rating of “Moderate Buy” and an average price target of $306.91.

Cencora 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.