Ieq Capital LLC Sells 5,860 Shares of Cencora, Inc. (NYSE:COR)

Ieq Capital LLC trimmed its position in Cencora, Inc. (NYSE:COR) by 59.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,997 shares of the company’s stock after selling 5,860 shares during the period. Ieq Capital LLC’s holdings in Cencora were worth $898,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Hickory Asset Management Inc. acquired a new stake in shares of Cencora during the 4th quarter worth about $572,000. Sylvest Advisors LLC bought a new stake in shares of Cencora during the 4th quarter worth $1,105,000. Insight Wealth Strategies LLC boosted its stake in shares of Cencora by 124.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 20,249 shares of the company’s stock valued at $4,549,000 after purchasing an additional 11,232 shares in the last quarter. Cerity Partners LLC raised its position in Cencora by 10.1% in the third quarter. Cerity Partners LLC now owns 39,457 shares of the company’s stock valued at $8,881,000 after purchasing an additional 3,610 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its position in Cencora by 46.9% during the 4th quarter. Vontobel Holding Ltd. now owns 6,245 shares of the company’s stock worth $1,403,000 after buying an additional 1,995 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on COR. UBS Group increased their price target on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Evercore ISI increased their target price on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. lifted their price target on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Barclays boosted their target price on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird boosted their price objective on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $277.90.

Cencora Trading Up 2.6 %

Shares of COR opened at $250.59 on Wednesday. The firm has a market cap of $48.60 billion, a P/E ratio of 35.65, a price-to-earnings-growth ratio of 1.31 and a beta of 0.49. The company has a 50 day simple moving average of $240.27 and a two-hundred day simple moving average of $237.56. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $262.26. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. On average, equities analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Friday, February 14th. Cencora’s dividend payout ratio (DPR) is currently 31.29%.

Insider Buying and Selling

In other news, EVP Silvana Battaglia sold 5,000 shares of Cencora stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the sale, the executive vice president now owns 15,374 shares of the company’s stock, valued at approximately $3,724,197.76. The trade was a 24.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 10.80% of the stock is owned by corporate insiders.

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.