Teacher Retirement System of Texas Boosts Stake in Cencora, Inc. (NYSE:COR)

Teacher Retirement System of Texas raised its holdings in shares of Cencora, Inc. (NYSE:COR) by 7.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 121,640 shares of the company’s stock after buying an additional 8,600 shares during the quarter. Teacher Retirement System of Texas owned about 0.06% of Cencora worth $27,330,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in COR. Swedbank AB grew its position in Cencora by 2.3% during the third quarter. Swedbank AB now owns 1,394,449 shares of the company’s stock worth $313,863,000 after buying an additional 31,104 shares in the last quarter. United Bank grew its position in Cencora by 4.2% during the third quarter. United Bank now owns 5,601 shares of the company’s stock worth $1,261,000 after buying an additional 225 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Cencora in the 3rd quarter worth about $1,648,000. Commerce Bank increased its position in shares of Cencora by 0.5% during the 3rd quarter. Commerce Bank now owns 22,507 shares of the company’s stock valued at $5,066,000 after purchasing an additional 114 shares during the last quarter. Finally, Trustmark National Bank Trust Department increased its position in shares of Cencora by 4.8% during the 3rd quarter. Trustmark National Bank Trust Department now owns 5,690 shares of the company’s stock valued at $1,281,000 after purchasing an additional 262 shares during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Stock Down 0.3 %

Cencora stock opened at $266.91 on Friday. The firm has a market cap of $51.76 billion, a price-to-earnings ratio of 37.97, a PEG ratio of 1.31 and a beta of 0.51. The stock has a fifty day simple moving average of $250.62 and a two-hundred day simple moving average of $240.06. Cencora, Inc. has a 12 month low of $214.77 and a 12 month high of $271.08. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40.

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

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s payout ratio is 31.29%.

Insiders Place Their Bets

In related news, CEO Robert P. Mauch sold 4,970 shares of Cencora stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $255.00, for a total value of $1,267,350.00. Following the completion of the sale, the chief executive officer now owns 51,070 shares of the company’s stock, valued at $13,022,850. The trade was a 8.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lazarus Krikorian sold 2,000 shares of Cencora stock in a transaction on Monday, March 10th. The stock was sold at an average price of $260.06, for a total value of $520,120.00. Following the completion of the sale, the chief accounting officer now directly owns 20,154 shares of the company’s stock, valued at $5,241,249.24. The trade was a 9.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,970 shares of company stock valued at $2,998,670. Corporate insiders own 10.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on COR. Mizuho began coverage on Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Evercore ISI increased their price objective on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company increased their price objective on Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Finally, StockNews.com upgraded Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $280.20.

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.