State of New Jersey Common Pension Fund D Cuts Stake in Cencora, Inc. (NYSE:COR)

State of New Jersey Common Pension Fund D decreased its stake in Cencora, Inc. (NYSE:COR) by 29.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,628 shares of the company’s stock after selling 27,330 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Cencora were worth $15,011,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of COR. Rise Advisors LLC purchased a new position in Cencora in the 1st quarter worth approximately $25,000. Legacy Bridge LLC acquired a new position in shares of Cencora during the first quarter worth $27,000. New Millennium Group LLC purchased a new position in shares of Cencora in the second quarter valued at $26,000. TCTC Holdings LLC acquired a new stake in Cencora during the 1st quarter valued at $29,000. Finally, TFO Wealth Partners LLC purchased a new stake in Cencora during the 1st quarter worth $30,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Robert W. Baird reduced their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a report on Friday, September 6th. Leerink Partners restated an “outperform” rating and set a $275.00 price objective on shares of Cencora in a report on Thursday, June 27th. JPMorgan Chase & Co. increased their target price on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company raised their price target on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cencora presently has an average rating of “Moderate Buy” and an average target price of $258.13.

Cencora Stock Performance

Shares of COR opened at $239.88 on Friday. The stock has a market capitalization of $47.27 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.55 and a beta of 0.44. The business’s fifty day moving average price is $233.58 and its 200 day moving average price is $233.27. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. Cencora, Inc. has a 12-month low of $175.50 and a 12-month high of $247.66.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The company had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. During the same period last year, the firm posted $2.92 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities research analysts forecast that Cencora, Inc. will post 13.63 EPS for the current year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend was Friday, August 9th. Cencora’s payout ratio is 22.32%.

Insider Buying and Selling

In other news, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the transaction, the executive vice president now owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the sale, the chief executive officer now directly owns 285,088 shares in the company, valued at approximately $63,323,746.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the transaction, the executive vice president now owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,450,399 shares of company stock valued at $1,070,392,799. Insiders own 15.80% of the company’s stock.

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.