Teacher Retirement System of Texas Has $33 Million Stake in Cencora, Inc. $COR

Teacher Retirement System of Texas boosted its position in shares of Cencora, Inc. (NYSE:COR) by 224.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 110,049 shares of the company’s stock after purchasing an additional 76,178 shares during the period. Teacher Retirement System of Texas’ holdings in Cencora were worth $32,998,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Cencora by 8.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company’s stock worth $2,682,821,000 after acquiring an additional 787,858 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Cencora by 7.2% in the first quarter. Wellington Management Group LLP now owns 5,421,262 shares of the company’s stock worth $1,507,599,000 after acquiring an additional 363,402 shares during the last quarter. Boston Partners lifted its holdings in shares of Cencora by 8.1% in the first quarter. Boston Partners now owns 5,411,193 shares of the company’s stock worth $1,505,984,000 after acquiring an additional 404,093 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Cencora by 42.1% in the first quarter. Invesco Ltd. now owns 4,607,964 shares of the company’s stock worth $1,281,429,000 after acquiring an additional 1,364,433 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Cencora by 9.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,711,281 shares of the company’s stock worth $475,890,000 after acquiring an additional 154,311 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In related news, Chairman Steven H. Collis sold 31,350 shares of Cencora stock in a transaction 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 owned 305,913 shares of the company’s stock, valued at approximately $88,671,942.18. This trade represents a 9.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert P. Mauch sold 5,097 shares of Cencora stock in a transaction on Monday, October 20th. The shares were sold at an average price of $326.80, for a total transaction of $1,665,699.60. Following the completion of the sale, the chief executive officer directly owned 37,940 shares of the company’s stock, valued at approximately $12,398,792. The trade was a 11.84% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 41,544 shares of company stock valued at $12,230,941. 10.80% of the stock is currently owned by insiders.

Cencora Stock Performance

Shares of COR stock opened at $336.00 on Tuesday. The company has a market cap of $65.14 billion, a price-to-earnings ratio of 34.57, a price-to-earnings-growth ratio of 1.55 and a beta of 0.63. Cencora, Inc. has a 52 week low of $223.92 and a 52 week high of $336.07. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. The firm has a 50 day moving average of $305.00 and a 200-day moving average of $295.60.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping the consensus estimate of $3.79 by $0.21. The company had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $3.34 EPS. On average, equities analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have recently commented on COR. Mizuho increased their target price on shares of Cencora from $316.00 to $334.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Evercore ISI set a $340.00 price objective on shares of Cencora in a report on Wednesday, October 8th. Jefferies Financial Group raised their price objective on shares of Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a report on Monday, June 30th. Morgan Stanley set a $330.00 target price on shares of Cencora and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Cencora in a research report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $329.00.

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.