Cencora, Inc. (NYSE:COR) Chairman Sells $5,208,619.44 in Stock

Cencora, Inc. (NYSE:COR) Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total value of $5,208,619.44. Following the completion of the transaction, the chairman now owns 306,752 shares in the company, valued at approximately $74,283,064.32. This represents a 6.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Cencora Stock Performance

Shares of COR opened at $245.02 on Friday. Cencora, Inc. has a 52 week low of $195.83 and a 52 week high of $251.56. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. The stock has a market cap of $48.28 billion, a P/E ratio of 32.63, a P/E/G ratio of 1.63 and a beta of 0.44. The business’s 50 day moving average price is $233.22 and its 200-day moving average price is $231.62.

Cencora Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.55 dividend. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, November 15th. Cencora’s dividend payout ratio is currently 29.29%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC raised its holdings in Cencora by 112.2% in the 3rd quarter. Virtu Financial LLC now owns 10,227 shares of the company’s stock worth $2,302,000 after acquiring an additional 5,407 shares during the last quarter. Passumpsic Savings Bank raised its stake in shares of Cencora by 4.9% in the third quarter. Passumpsic Savings Bank now owns 6,464 shares of the company’s stock worth $1,455,000 after purchasing an additional 304 shares during the last quarter. Unigestion Holding SA lifted its holdings in shares of Cencora by 31.9% during the third quarter. Unigestion Holding SA now owns 149,989 shares of the company’s stock valued at $33,749,000 after purchasing an additional 36,275 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in shares of Cencora by 4.0% during the third quarter. Rehmann Capital Advisory Group now owns 1,541 shares of the company’s stock valued at $348,000 after buying an additional 59 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its holdings in Cencora by 8.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 6,989 shares of the company’s stock worth $1,573,000 after buying an additional 541 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on COR. Robert W. Baird lifted their price target on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Barclays increased their price target on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Leerink Partners decreased their price objective on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Finally, UBS Group increased their target price on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $271.20.

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.