Louisiana State Employees Retirement System Has $2.73 Million Position in Cencora, Inc. $COR

Louisiana State Employees Retirement System lowered its position in Cencora, Inc. (NYSE:COR) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,100 shares of the company’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Cencora were worth $2,729,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in COR. Daymark Wealth Partners LLC acquired a new position in Cencora in the first quarter worth approximately $226,000. GAMMA Investing LLC increased its holdings in Cencora by 57.0% in the first quarter. GAMMA Investing LLC now owns 5,748 shares of the company’s stock worth $1,598,000 after buying an additional 2,087 shares during the last quarter. Sanibel Captiva Trust Company Inc. acquired a new position in Cencora in the first quarter worth approximately $532,000. Integrated Advisors Network LLC acquired a new position in Cencora in the first quarter worth approximately $200,000. Finally, Assenagon Asset Management S.A. increased its holdings in Cencora by 1,275.2% in the first quarter. Assenagon Asset Management S.A. now owns 272,832 shares of the company’s stock worth $75,872,000 after buying an additional 252,992 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on COR shares. Evercore ISI set a $340.00 price objective on Cencora in a report on Wednesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cencora in a research report on Wednesday. Jefferies Financial Group upped their target price on Cencora from $275.00 to $300.00 and gave the stock a “hold” rating in a research report on Monday, June 30th. Morgan Stanley set a $330.00 target price on Cencora and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company upped their target price on Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $320.00.

Insider Activity at Cencora

In other news, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $290.00, for a total value of $1,478,130.00. Following the completion of the sale, the chief executive officer directly owned 39,274 shares of the company’s stock, valued at approximately $11,389,460. This represents a 11.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total value of $9,087,111.00. Following the completion of the sale, the chairman directly owned 305,913 shares of the company’s stock, valued at $88,671,942.18. This represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,993 shares of company stock valued at $16,292,923 over the last three months. 10.80% of the stock is owned by company insiders.

Cencora Stock Up 1.1%

COR opened at $314.14 on Friday. Cencora, Inc. has a 1-year low of $220.82 and a 1-year high of $315.23. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. The stock has a market capitalization of $60.91 billion, a price-to-earnings ratio of 32.32, a P/E/G ratio of 1.45 and a beta of 0.63. The business has a 50 day moving average of $296.39 and a 200-day moving average of $291.26.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The company had revenue of $80.66 billion during the quarter, compared to analysts’ expectations of $80.34 billion. During the same period in the prior year, the business earned $3.34 earnings per share. Cencora’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Cencora’s dividend payout ratio is currently 22.63%.

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.