Kentucky Retirement Systems Insurance Trust Fund Trims Stake in Cencora, Inc. (NYSE:COR)

Kentucky Retirement Systems Insurance Trust Fund reduced its stake in Cencora, Inc. (NYSE:COR) by 3.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 5,165 shares of the company’s stock after selling 175 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Cencora were worth $1,163,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of COR. Coastline Trust Co bought a new position in shares of Cencora in the 3rd quarter worth approximately $168,000. Empirical Finance LLC grew its stake in Cencora by 2.1% in the third quarter. Empirical Finance LLC now owns 5,499 shares of the company’s stock worth $1,238,000 after purchasing an additional 114 shares during the period. Empowered Funds LLC grew its stake in Cencora by 92.9% in the third quarter. Empowered Funds LLC now owns 76,304 shares of the company’s stock worth $17,175,000 after purchasing an additional 36,754 shares during the period. First Business Financial Services Inc. raised its holdings in Cencora by 4.2% in the third quarter. First Business Financial Services Inc. now owns 13,255 shares of the company’s stock worth $2,983,000 after purchasing an additional 537 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in Cencora by 6.6% during the third quarter. CIBC Asset Management Inc now owns 39,237 shares of the company’s stock valued at $8,825,000 after buying an additional 2,438 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on COR. Robert W. Baird upped their price objective on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Barclays lifted their price objective on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Finally, Leerink Partners lowered their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $271.20.

Cencora Trading Down 1.3 %

Cencora stock opened at $240.24 on Monday. Cencora, Inc. has a one year low of $194.23 and a one year high of $251.56. The business’s fifty day moving average is $232.62 and its 200 day moving average is $231.03. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The stock has a market capitalization of $47.34 billion, a PE ratio of 31.99, a price-to-earnings-growth ratio of 1.60 and a beta of 0.44.

Cencora Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.55 dividend. The ex-dividend date is Friday, November 15th. This is a positive change from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.92%. Cencora’s payout ratio is currently 27.16%.

Insider Activity

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the sale, the chairman now directly owns 285,088 shares in the company, valued at approximately $67,223,750.40. The trade was a 7.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.80% of the stock is owned by corporate insiders.

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.