Insider Selling: Cencora, Inc. (NYSE:COR) Chairman Sells 14,578 Shares of Stock

Cencora, Inc. (NYSE:COR) Chairman Steven H. Collis sold 14,578 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the completion of the transaction, the chairman now owns 317,913 shares in the company, valued at approximately $85,680,732.63. This trade represents a 4.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Cencora Trading Up 1.1 %

Shares of NYSE COR traded up $2.84 during midday trading on Wednesday, hitting $271.32. The stock had a trading volume of 1,036,117 shares, compared to its average volume of 1,378,648. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $271.74. The company has a market capitalization of $52.61 billion, a price-to-earnings ratio of 38.59, a PEG ratio of 1.31 and a beta of 0.51. The company has a fifty day moving average price of $251.80 and a 200 day moving average price of $240.46.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. On average, analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a yield of 0.81%. Cencora’s dividend payout ratio is currently 31.29%.

Institutional Investors Weigh In On Cencora

Several institutional investors and hedge funds have recently modified their holdings of COR. Price T Rowe Associates Inc. MD raised its stake in shares of Cencora by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company’s stock valued at $1,990,542,000 after purchasing an additional 78,066 shares during the period. State Street Corp lifted its holdings in Cencora by 3.8% in the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock worth $1,810,970,000 after buying an additional 291,867 shares in the last quarter. Bank of America Corp DE boosted its position in Cencora by 62.3% in the 4th quarter. Bank of America Corp DE now owns 5,193,807 shares of the company’s stock valued at $1,166,944,000 after buying an additional 1,994,256 shares during the last quarter. Wellington Management Group LLP boosted its position in 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 buying an additional 338,452 shares during the last quarter. Finally, Boston Partners grew its stake in shares of Cencora by 2.6% during the fourth quarter. Boston Partners now owns 5,007,100 shares of the company’s stock valued at $1,128,058,000 after acquiring an additional 125,611 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on COR. StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Mizuho started coverage on Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective on the stock. Wells Fargo & Company lifted their price objective on Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. JPMorgan Chase & Co. increased their target price on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Evercore ISI lifted their price target on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and a consensus target price of $280.20.

About Cencora

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.