Central Pacific Bank Trust Division Reduces Holdings in Cencora, Inc. (NYSE:COR)

Central Pacific Bank Trust Division cut its holdings in Cencora, Inc. (NYSE:COR) by 7.5% during the fourth quarter, HoldingsChannel reports. The fund owned 555 shares of the company’s stock after selling 45 shares during the period. Central Pacific Bank Trust Division’s holdings in Cencora were worth $125,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Concord Wealth Partners purchased a new stake in Cencora in the third quarter valued at $30,000. SYSTM Wealth Solutions LLC purchased a new stake in Cencora in the 2nd quarter valued at about $36,000. Ashton Thomas Securities LLC acquired a new position in Cencora in the third quarter valued at about $41,000. Fairscale Capital LLC purchased a new position in Cencora during the second quarter worth about $54,000. Finally, Modus Advisors LLC acquired a new stake in shares of Cencora during the fourth quarter valued at about $54,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cencora

In other news, Chairman Steven H. Collis sold 50,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $243.97, for a total value of $12,198,500.00. Following the transaction, the chairman now owns 326,557 shares in the company, valued at approximately $79,670,111.29. This represents a 13.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $228.72, for a total value of $383,792.16. Following the sale, the executive vice president now owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. The trade was a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 94,696 shares of company stock valued at $22,862,734 over the last quarter. 15.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

COR has been the subject of a number of research analyst reports. Bank of America reaffirmed a “neutral” rating and set a $245.00 price objective (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Evercore ISI lifted their price objective on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. UBS Group boosted their price objective on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Leerink Partners lowered their target price on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Finally, Robert W. Baird boosted their price target on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $275.60.

Cencora Stock Up 2.0 %

Shares of Cencora stock opened at $229.20 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. Cencora, Inc. has a 52-week low of $207.63 and a 52-week high of $253.27. The company has a market capitalization of $44.30 billion, a P/E ratio of 30.52, a P/E/G ratio of 1.54 and a beta of 0.45. The company has a 50 day moving average of $237.44 and a 200 day moving average of $233.63.

Cencora Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.55 per share. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Friday, November 15th. Cencora’s payout ratio is 29.29%.

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.