National Pension Service Reduces Stock Position in Cencora, Inc. (NYSE:COR)

National Pension Service cut its position in shares of Cencora, Inc. (NYSE:COR) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 302,508 shares of the company’s stock after selling 5,411 shares during the period. National Pension Service’s holdings in Cencora were worth $67,967,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COR. Swedbank AB raised its holdings in shares of Cencora by 2.3% in the 3rd quarter. Swedbank AB now owns 1,394,449 shares of the company’s stock valued at $313,863,000 after purchasing an additional 31,104 shares in the last quarter. Pinnacle Associates Ltd. grew its position in Cencora by 11.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,897 shares of the company’s stock worth $390,000 after purchasing an additional 196 shares during the last quarter. SteelPeak Wealth LLC grew its position in Cencora by 72.2% during the 3rd quarter. SteelPeak Wealth LLC now owns 8,594 shares of the company’s stock worth $1,934,000 after purchasing an additional 3,604 shares during the last quarter. Tevis Investment Management grew its position in Cencora by 12.7% during the 3rd quarter. Tevis Investment Management now owns 1,663 shares of the company’s stock worth $374,000 after purchasing an additional 187 shares during the last quarter. Finally, Principal Securities Inc. grew its position in Cencora by 4.9% during the 3rd quarter. Principal Securities Inc. now owns 18,612 shares of the company’s stock worth $4,189,000 after purchasing an additional 861 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on COR shares. Barclays boosted their target price on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Evercore ISI boosted their target price on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Mizuho started coverage on shares of Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price on the stock. UBS Group boosted their target price on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company upped their price objective on shares of Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and an average target price of $277.90.

Cencora Stock Performance

COR opened at $248.71 on Friday. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The firm has a fifty day moving average price of $240.74 and a 200 day moving average price of $237.66. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $262.26. The stock has a market cap of $48.23 billion, a P/E ratio of 35.38, a P/E/G ratio of 1.31 and a beta of 0.49.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. Equities research analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Friday, February 14th. Cencora’s dividend payout ratio is presently 31.29%.

Insiders Place Their Bets

In other Cencora news, EVP Silvana Battaglia sold 5,000 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the transaction, the executive vice president now directly owns 15,374 shares in the company, valued at approximately $3,724,197.76. This represents a 24.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 10.80% of the stock is currently owned by company insiders.

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.