Tokio Marine Asset Management Co. Ltd. Cuts Stock Holdings in Cencora, Inc. (NYSE:COR)

Tokio Marine Asset Management Co. Ltd. cut its stake in shares of Cencora, Inc. (NYSE:COR) by 3.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 8,152 shares of the company’s stock after selling 315 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Cencora were worth $1,835,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. New Millennium Group LLC purchased a new position in Cencora in the second quarter worth $26,000. TCTC Holdings LLC purchased a new position in shares of Cencora during the 1st quarter valued at about $29,000. TFO Wealth Partners LLC bought a new stake in Cencora in the 1st quarter worth approximately $30,000. MFA Wealth Advisors LLC purchased a new stake in Cencora in the second quarter worth approximately $30,000. Finally, Concord Wealth Partners purchased a new position in shares of Cencora during the third quarter worth approximately $30,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling 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 completion of the transaction, the chairman now directly owns 285,088 shares in the company, valued at $67,223,750.40. This trade represents a 7.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 15.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Barclays increased their target price on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. UBS Group boosted their price objective on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. StockNews.com cut shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Evercore ISI upped their price target on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $271.20.

Cencora Stock Down 2.6 %

COR stock opened at $243.41 on Friday. Cencora, Inc. has a fifty-two week low of $191.11 and a fifty-two week high of $251.56. The company has a market capitalization of $47.96 billion, a price-to-earnings ratio of 32.41, a price-to-earnings-growth ratio of 1.66 and a beta of 0.44. The business’s 50 day moving average price is $232.38 and its two-hundred day moving average price is $231.00. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88.

Cencora Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.55 dividend. This is an increase from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.90%. Cencora’s dividend payout ratio is 27.16%.

Cencora 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.