Cencora, Inc. (NYSE:COR) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI lowered its position in shares of Cencora, Inc. (NYSE:COR) by 12.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,637 shares of the company’s stock after selling 2,253 shares during the period. Parsons Capital Management Inc. RI’s holdings in Cencora were worth $3,513,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lake Street Advisors Group LLC raised its holdings in Cencora by 1.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock valued at $769,000 after acquiring an additional 43 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in Cencora by 1.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock valued at $1,001,000 after acquiring an additional 46 shares during the last quarter. Prime Capital Investment Advisors LLC grew its stake in shares of Cencora by 1.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock valued at $848,000 after buying an additional 46 shares during the period. J.W. Cole Advisors Inc. grew its stake in shares of Cencora by 1.3% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 3,669 shares of the company’s stock valued at $826,000 after buying an additional 48 shares during the period. Finally, Impact Partnership Wealth LLC grew its stake in shares of Cencora by 2.6% during the 3rd quarter. Impact Partnership Wealth LLC now owns 2,042 shares of the company’s stock valued at $460,000 after buying an additional 51 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on COR shares. Wells Fargo & Company lowered their price objective on shares of Cencora from $249.00 to $237.00 and set an “equal weight” rating for the company in a research note on Friday, December 13th. JPMorgan Chase & Co. upped their price target on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday. Mizuho initiated coverage on shares of Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target for the company. Leerink Partners decreased their price target on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Finally, Evercore ISI upped their price target 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. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.00.

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Silvana Battaglia sold 1,678 shares of the firm’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 transaction of $383,792.16. Following the sale, the executive vice president now owns 20,329 shares of the company’s stock, valued at $4,649,648.88. The trade was a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,187 shares of company stock worth $17,790,912. 15.80% of the stock is owned by company insiders.

Cencora Price Performance

COR opened at $250.58 on Monday. The company’s 50-day moving average price is $237.51 and its 200 day moving average price is $234.83. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $253.27. The firm has a market cap of $48.43 billion, a price-to-earnings ratio of 33.45, a price-to-earnings-growth ratio of 1.54 and a beta of 0.49. 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 Increases Dividend

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

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.