Insider Selling: Cencora, Inc. (NYSE:COR) Chairman Sells 50,000 Shares of Stock

Cencora, Inc. (NYSE:COR) 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 transaction of $12,198,500.00. Following the completion of the sale, the chairman now directly owns 326,557 shares in the company, valued at $79,670,111.29. This trade represents a 13.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cencora Price Performance

NYSE COR opened at $249.69 on Friday. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. The firm’s 50 day moving average price is $234.44 and its 200-day moving average price is $232.26. Cencora, Inc. has a 52-week low of $195.83 and a 52-week high of $251.56. The company has a market cap of $49.20 billion, a PE ratio of 33.25, a P/E/G ratio of 1.63 and a beta of 0.44.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.88%. This is an increase from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, November 15th. Cencora’s dividend payout ratio (DPR) is 29.29%.

Analyst Ratings Changes

A number of analysts recently weighed in on COR shares. JPMorgan Chase & Co. increased their price objective on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. UBS Group raised their target price on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Bank of America reaffirmed a “neutral” rating and set a $245.00 target price (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Barclays raised their target price on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Evercore ISI raised their target price on shares of Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $271.20.

Institutional Investors Weigh In On Cencora

Several institutional investors have recently bought and sold shares of COR. BOKF NA acquired a new stake in Cencora in the first quarter valued at approximately $260,000. SVB Wealth LLC purchased a new position in shares of Cencora in the first quarter worth $598,000. Silvercrest Asset Management Group LLC purchased a new position in shares of Cencora in the first quarter worth $7,976,000. Kennedy Capital Management LLC purchased a new position in shares of Cencora in the first quarter worth $705,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Cencora in the first quarter worth $2,194,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

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.