Cencora, Inc. (NYSE:COR) Shares Sold by M.D. Sass LLC

M.D. Sass LLC reduced its position in Cencora, Inc. (NYSE:COR) by 91.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,515 shares of the company’s stock after selling 128,393 shares during the period. Cencora comprises about 0.2% of M.D. Sass LLC’s portfolio, making the stock its 28th biggest holding. M.D. Sass LLC’s holdings in Cencora were worth $2,817,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Lake Street Advisors Group LLC boosted its stake in shares of Cencora by 1.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock worth $769,000 after acquiring an additional 43 shares in the last quarter. Financial Advocates Investment Management boosted its position in Cencora by 4.7% during the second quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock worth $220,000 after purchasing an additional 44 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in Cencora by 1.0% in the third quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock valued at $1,001,000 after purchasing an additional 46 shares during the period. Prime Capital Investment Advisors LLC raised its stake in shares of Cencora by 1.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock worth $848,000 after buying an additional 46 shares during the period. Finally, Checchi Capital Advisers LLC increased its holdings in Cencora by 2.2% in the 2nd quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock worth $499,000 after acquiring an additional 48 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total value of $5,208,619.44. Following the completion of the transaction, the chairman now directly owns 306,752 shares of the company’s stock, valued at $74,283,064.32. The trade was a 6.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 15.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Evercore ISI increased their target price on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. UBS Group lifted their target price on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Robert W. Baird boosted their price objective on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company raised their target price on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $271.20.

Cencora Trading Down 0.1 %

NYSE COR traded down $0.23 during trading hours on Tuesday, reaching $244.00. The company had a trading volume of 83,900 shares, compared to its average volume of 1,394,552. 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 stock has a market capitalization of $48.08 billion, a P/E ratio of 32.53, a price-to-earnings-growth ratio of 1.63 and a beta of 0.44. The stock has a 50-day moving average of $233.28 and a 200 day moving average of $231.85. Cencora, Inc. has a 1-year low of $195.83 and a 1-year high of $251.56.

Cencora Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors 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 dividend on an annualized basis and a dividend yield of 0.90%. This is a boost from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio (DPR) is presently 29.29%.

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.