Cencora, Inc. (NYSE:COR) Stock Position Trimmed by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. decreased its position in Cencora, Inc. (NYSE:COR) by 2.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,901 shares of the company’s stock after selling 148 shares during the period. Sumitomo Life Insurance Co.’s holdings in Cencora were worth $1,101,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in COR. Concord Wealth Partners bought a new stake in Cencora during the 3rd quarter valued at $30,000. Householder Group Estate & Retirement Specialist LLC increased its holdings in shares of Cencora by 85.2% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock valued at $33,000 after purchasing an additional 69 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Cencora during the third quarter valued at about $41,000. Modus Advisors LLC acquired a new stake in Cencora in the fourth quarter worth about $54,000. Finally, Carolina Wealth Advisors LLC grew its position in Cencora by 366.7% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $60,000 after buying an additional 209 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company boosted their target price on Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a report on Wednesday. Mizuho started coverage on Cencora in a research note on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target for the company. UBS Group lifted their price target on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird upped their price objective on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $278.40.

Insider Activity at Cencora

In other Cencora news, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the sale, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at $4,649,648.88. The trade was a 7.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total value of $5,208,619.44. Following the completion of the sale, the chairman now 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 73,187 shares of company stock worth $17,790,912. 15.80% of the stock is owned by corporate insiders.

Cencora Trading Up 0.5 %

Shares of COR opened at $256.45 on Thursday. The business’s 50-day moving average price is $238.30 and its 200 day moving average price is $235.44. 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 $49.57 billion, a P/E ratio of 34.15, a P/E/G ratio of 1.54 and a beta of 0.49. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $257.79.

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.55 per share. The ex-dividend date was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.86%. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is currently 29.29%.

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.