Kentucky Retirement Systems Buys Shares of 12,574 Cencora, Inc. (NYSE:COR)

Kentucky Retirement Systems acquired a new stake in Cencora, Inc. (NYSE:COR) in the first quarter, according to its most recent filing with the SEC. The fund acquired 12,574 shares of the company’s stock, valued at approximately $3,055,000.

A number of other large investors have also recently made changes to their positions in the stock. TD Asset Management Inc bought a new position in shares of Cencora in the first quarter worth $95,313,000. LSV Asset Management bought a new position in shares of Cencora in the first quarter worth approximately $3,579,000. Cairn Investment Group Inc. purchased a new stake in Cencora in the first quarter valued at approximately $2,294,000. Lake Street Advisors Group LLC purchased a new position in Cencora in the 1st quarter worth approximately $836,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Cencora during the 1st quarter valued at $1,862,000. 97.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on COR. Robert W. Baird raised their price target on Cencora from $280.00 to $285.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. SVB Leerink reiterated an “outperform” rating and set a $275.00 price target on shares of Cencora in a research report on Thursday, June 27th. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Finally, Citigroup increased their target price on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.78.

Insiders Place Their Bets

In related news, Director Dermot Mark Durcan purchased 500 shares of Cencora stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average price of $218.58 per share, with a total value of $109,290.00. Following the purchase, the director now directly owns 21,876 shares of the company’s stock, valued at approximately $4,781,656.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of Cencora stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $215.12, for a total transaction of $399,991,976.80. Following the completion of the sale, the insider now owns 24,418,171 shares of the company’s stock, valued at approximately $5,252,836,945.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dermot Mark Durcan bought 500 shares of Cencora stock in a transaction that occurred on Friday, May 24th. The shares were acquired at an average cost of $218.58 per share, with a total value of $109,290.00. Following the acquisition, the director now owns 21,876 shares of the company’s stock, valued at $4,781,656.08. The disclosure for this purchase can be found here. Insiders sold a total of 1,899,112 shares of company stock valued at $408,654,376 over the last 90 days. Insiders own 15.80% of the company’s stock.

Cencora Stock Performance

COR stock traded up $0.81 during trading on Monday, reaching $228.43. The stock had a trading volume of 196,170 shares, compared to its average volume of 1,354,621. The stock’s 50 day moving average is $226.96 and its two-hundred day moving average is $230.70. Cencora, Inc. has a 52 week low of $171.65 and a 52 week high of $246.75. The company has a current ratio of 0.89, a quick ratio of 0.53 and a debt-to-equity ratio of 3.41. The firm has a market cap of $45.56 billion, a PE ratio of 24.90, a PEG ratio of 1.58 and a beta of 0.45.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, topping the consensus estimate of $3.65 by $0.15. The company had revenue of $68.41 billion during the quarter, compared to the consensus estimate of $70.60 billion. Cencora had a net margin of 0.67% and a return on equity of 268.67%. Cencora’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.50 EPS. As a group, equities analysts anticipate that Cencora, Inc. will post 13.46 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Thursday, May 9th. Cencora’s dividend payout ratio (DPR) is currently 22.32%.

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.