Cencora, Inc. (NYSE:COR) Shares Sold by M3 Advisory Group LLC

M3 Advisory Group LLC cut its stake in Cencora, Inc. (NYSE:COR) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,783 shares of the company’s stock after selling 45 shares during the period. M3 Advisory Group LLC’s holdings in Cencora were worth $401,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of COR. Pacer Advisors Inc. boosted its position in Cencora by 6,855.3% in the third quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after buying an additional 2,035,679 shares during the last quarter. Wellington Management Group LLP lifted its stake in Cencora by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after acquiring an additional 338,452 shares during the period. Nordea Investment Management AB lifted its stake in Cencora by 40.2% during the 4th quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock valued at $243,173,000 after acquiring an additional 308,773 shares during the period. Two Sigma Advisers LP boosted its holdings in shares of Cencora by 21.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock valued at $368,771,000 after acquiring an additional 292,600 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Cencora by 3.8% in the third quarter. State Street Corp now owns 8,045,896 shares of the company’s stock worth $1,810,970,000 after acquiring an additional 291,867 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling

In related news, EVP Silvana Battaglia sold 1,678 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the sale, the executive vice president now owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This represents a 7.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the completion of the transaction, the chairman now directly owns 306,752 shares in the company, valued at $74,283,064.32. This trade represents a 6.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,187 shares of company stock worth $17,790,912. 15.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on COR. Evercore ISI upped their price target on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. UBS Group upped their target price on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday. Leerink Partners lowered their price objective on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Finally, Barclays lifted their target price on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a report 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, Cencora has a consensus rating of “Moderate Buy” and an average target price of $277.00.

Cencora Stock Up 0.2 %

Shares of NYSE COR opened at $248.45 on Friday. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $253.27. 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 company’s 50-day simple moving average is $237.51 and its 200-day simple moving average is $234.75. The firm has a market cap of $48.02 billion, a price-to-earnings ratio of 33.08, a price-to-earnings-growth ratio of 1.54 and a beta of 0.49.

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.89%. Cencora’s payout ratio is currently 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.