Cencora, Inc. (NYSE:COR) Chairman Steven H. Collis Sells 50,000 Shares

Cencora, Inc. (NYSE:COR) Chairman Steven H. Collis sold 50,000 shares of Cencora stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $243.97, for a total value of $12,198,500.00. Following the transaction, the chairman now owns 326,557 shares of the company’s stock, valued at $79,670,111.29. This represents a 13.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Cencora Stock Up 1.7 %

Shares of NYSE COR opened at $248.40 on Wednesday. Cencora, Inc. has a 52-week low of $195.83 and a 52-week high of $251.56. The firm has a fifty day moving average of $233.28 and a 200-day moving average of $231.85. The stock has a market capitalization of $48.95 billion, a PE ratio of 33.08, a P/E/G ratio of 1.63 and a beta of 0.44. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 0.89%. Cencora’s payout ratio is currently 29.29%.

Institutional Trading of Cencora

Several institutional investors have recently made changes to their positions in the stock. Peapack Gladstone Financial Corp grew its stake in shares of Cencora by 2.8% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 3,240 shares of the company’s stock valued at $729,000 after buying an additional 88 shares during the period. Synovus Financial Corp boosted its position in Cencora by 8.3% during the 3rd quarter. Synovus Financial Corp now owns 16,199 shares of the company’s stock worth $3,646,000 after purchasing an additional 1,242 shares during the period. Tidal Investments LLC boosted its position in Cencora by 18.2% during the 3rd quarter. Tidal Investments LLC now owns 20,684 shares of the company’s stock worth $4,656,000 after purchasing an additional 3,189 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Cencora during the 3rd quarter worth $566,000. Finally, Arvest Bank Trust Division purchased a new stake in Cencora during the 3rd quarter worth $218,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on COR. Bank of America restated a “neutral” rating and set a $245.00 price objective (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Barclays lifted their target price 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. JPMorgan Chase & Co. lifted their target price on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Wells Fargo & Company lifted their target price on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird lifted their target price on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” 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 company presently has an average 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.