Retirement Systems of Alabama Makes New $8.88 Million Investment in Cencora, Inc. (NYSE:COR)

Retirement Systems of Alabama purchased a new position in shares of Cencora, Inc. (NYSE:COR) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 36,544 shares of the company’s stock, valued at approximately $8,880,000.

Several other large investors also recently modified their holdings of the stock. Cairn Investment Group Inc. bought a new stake in Cencora in the 1st quarter valued at about $2,294,000. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Cencora during the first quarter worth approximately $1,862,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in shares of Cencora in the 1st quarter worth $13,090,000. NBC Securities Inc. acquired a new stake in Cencora in the 1st quarter valued at $976,000. Finally, Park Avenue Securities LLC bought a new stake in Cencora during the 1st quarter valued at $2,114,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Stock Performance

COR traded up $0.18 during trading hours on Friday, hitting $222.68. The stock had a trading volume of 830,572 shares, compared to its average volume of 1,399,658. The stock has a market cap of $44.41 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 1.55 and a beta of 0.45. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 3.41. The company’s fifty day simple moving average is $227.90 and its 200 day simple moving average is $228.39. Cencora, Inc. has a 1 year low of $171.65 and a 1 year high of $246.75.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, topping analysts’ consensus estimates of $3.65 by $0.15. The business had revenue of $68.41 billion for the quarter, compared to analyst estimates of $70.60 billion. Cencora had a net margin of 0.67% and a return on equity of 268.67%. Cencora’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.50 EPS. Equities analysts anticipate that Cencora, Inc. will post 13.44 earnings per share for the current year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, May 9th. Cencora’s payout ratio is currently 22.32%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on COR. StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Robert W. Baird lifted their price objective on shares of Cencora from $275.00 to $277.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. SVB Leerink reiterated an “outperform” rating and issued a $275.00 target price on shares of Cencora in a report on Thursday, June 27th. Finally, Citigroup boosted their price target on shares of Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $235.30.

Insiders Place Their Bets

In other news, EVP Gina Clark sold 1,874 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $223.86, for a total transaction of $419,513.64. Following the transaction, the executive vice president now directly owns 13,284 shares of the company’s stock, valued at $2,973,756.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Cencora news, EVP Gina Clark sold 1,874 shares of the stock in a transaction on Friday, May 31st. The shares were sold at an average price of $223.86, for a total transaction of $419,513.64. Following the completion of the sale, the executive vice president now owns 13,284 shares of the company’s stock, valued at approximately $2,973,756.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Robert P. Mauch sold 57,564 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $235.09, for a total value of $13,532,720.76. Following the completion of the sale, the chief operating officer now directly owns 24,412 shares in the company, valued at $5,739,017.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,956,675 shares of company stock valued at $422,352,056. 15.80% of the stock is currently owned by corporate insiders.

Cencora Company 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.