California Public Employees Retirement System Sells 93,334 Shares of Cencora, Inc. $COR

California Public Employees Retirement System lowered its stake in shares of Cencora, Inc. (NYSE:COR) by 13.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 588,788 shares of the company’s stock after selling 93,334 shares during the quarter. California Public Employees Retirement System’s holdings in Cencora were worth $184,014,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC bought a new stake in shares of Cencora during the 3rd quarter valued at $30,000. Cloud Capital Management LLC bought a new position in shares of Cencora in the third quarter worth $31,000. Caitlin John LLC acquired a new position in Cencora in the third quarter valued at about $31,000. Vermillion & White Wealth Management Group LLC raised its stake in Cencora by 69.4% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 105 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares in the last quarter. Finally, Westside Investment Management Inc. lifted its position in Cencora by 200.0% during the third quarter. Westside Investment Management Inc. now owns 105 shares of the company’s stock worth $33,000 after purchasing an additional 70 shares during the period. 97.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Bank of America decreased their target price on shares of Cencora from $380.00 to $360.00 and set a “neutral” rating on the stock in a report on Monday, January 5th. Evercore cut their price target on shares of Cencora from $440.00 to $420.00 and set an “outperform” rating for the company in a report on Thursday, February 5th. Barclays increased their price target on shares of Cencora from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Robert W. Baird set a $415.00 price objective on shares of Cencora in a research report on Tuesday, January 13th. Finally, JPMorgan Chase & Co. upped their target price on Cencora from $417.00 to $419.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $399.00.

Insider Activity

In related news, CEO Robert P. Mauch sold 5,096 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $354.73, for a total transaction of $1,807,704.08. Following the sale, the chief executive officer owned 66,726 shares of the company’s stock, valued at $23,669,713.98. This trade represents a 7.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Elizabeth S. Campbell sold 3,351 shares of the business’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $342.10, for a total value of $1,146,377.10. Following the sale, the executive vice president owned 23,891 shares in the company, valued at $8,173,111.10. This represents a 12.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 15,220 shares of company stock worth $5,282,867. Insiders own 0.38% of the company’s stock.

Cencora Trading Down 0.8%

COR opened at $349.69 on Monday. The company has a market cap of $68.03 billion, a P/E ratio of 42.03, a PEG ratio of 1.63 and a beta of 0.68. The company has a current ratio of 0.92, a quick ratio of 0.51 and a debt-to-equity ratio of 3.62. The company’s 50 day moving average is $355.58 and its 200-day moving average is $338.81. Cencora, Inc. has a 1-year low of $252.49 and a 1-year high of $377.54.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, February 4th. The company reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.04 by $0.04. The business had revenue of $85.93 billion during the quarter, compared to analysts’ expectations of $86.12 billion. Cencora had a net margin of 0.50% and a return on equity of 176.54%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.73 EPS. Equities research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, February 13th. Cencora’s dividend payout ratio is presently 28.85%.

About Cencora

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.