Cencora, Inc. (NYSE:COR) Chairman Steven H. Collis Sells 21,509 Shares

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

Cencora Stock Performance

Cencora stock traded up $0.76 during trading on Friday, reaching $246.45. The company had a trading volume of 154,975 shares, compared to its average volume of 1,396,632. The firm has a market capitalization of $48.56 billion, a price-to-earnings ratio of 32.69, a price-to-earnings-growth ratio of 1.60 and a beta of 0.44. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. The firm’s 50-day simple moving average is $233.12 and its 200 day simple moving average is $231.47. Cencora, Inc. has a 52 week low of $195.83 and a 52 week high of $251.56.

Cencora Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.55 per share. 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 0.89%. The ex-dividend date of this dividend is Friday, November 15th. Cencora’s payout ratio is presently 29.29%.

Institutional Investors Weigh In On Cencora

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD bought a new stake in Cencora in the first quarter worth $2,183,619,000. State Street Corp raised its position in Cencora by 3.8% during the third quarter. State Street Corp now owns 8,045,896 shares of the company’s stock valued at $1,810,970,000 after purchasing an additional 291,867 shares during the period. Wellington Management Group LLP lifted its stake in shares of Cencora by 7.0% in 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 purchasing an additional 338,452 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cencora by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock worth $941,183,000 after purchasing an additional 189,054 shares during the period. Finally, Boston Partners bought a new position in shares of Cencora during the 1st quarter valued at approximately $1,001,269,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on COR shares. JPMorgan Chase & Co. upped their price target on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Robert W. Baird boosted their price target on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Evercore ISI boosted their target price on Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Leerink Partners cut their price target on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Cencora currently has a consensus 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.