Cypress Capital Group Reduces Position in Cencora, Inc. (NYSE:COR)

Cypress Capital Group trimmed its stake in Cencora, Inc. (NYSE:COR) by 6.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,269 shares of the company’s stock after selling 1,495 shares during the period. Cypress Capital Group’s holdings in Cencora were worth $4,562,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of COR. New Millennium Group LLC purchased a new stake in shares of Cencora in the second quarter worth $26,000. LRI Investments LLC purchased a new stake in Cencora in the 1st quarter worth $31,000. MFA Wealth Advisors LLC purchased a new stake in Cencora in the 2nd quarter worth $30,000. Concord Wealth Partners bought a new stake in Cencora during the third quarter valued at about $30,000. Finally, SYSTM Wealth Solutions LLC bought a new position in shares of Cencora in the second quarter worth about $36,000. 97.52% of the stock is owned by institutional investors.

Insider Activity at Cencora

In related news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total value of $5,071,822.20. Following the sale, the chairman now directly owns 285,088 shares of the company’s stock, valued at $67,223,750.40. This represents a 7.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 15.80% of the stock is currently owned by insiders.

Cencora Trading Up 0.9 %

Shares of NYSE COR opened at $243.20 on Thursday. Cencora, Inc. has a 1-year low of $195.83 and a 1-year high of $251.56. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The business’s 50 day moving average is $232.82 and its two-hundred day moving average is $231.29. The stock has a market capitalization of $47.92 billion, a P/E ratio of 32.38, a PEG ratio of 1.60 and a beta of 0.44.

Cencora Increases Dividend

The business also recently announced 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. The ex-dividend date is Friday, November 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.90%. This is an increase from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is currently 29.29%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on COR. Bank of America reissued a “neutral” rating and set a $245.00 target price (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Leerink Partners reduced their price objective on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. JPMorgan Chase & Co. upped their target price 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. Robert W. Baird lifted their price target on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Barclays boosted their price target on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $271.20.

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.