Schechter Investment Advisors LLC Trims Stock Position in Cencora, Inc. (NYSE:COR)

Schechter Investment Advisors LLC lessened its holdings in Cencora, Inc. (NYSE:COR) by 3.2% during the 4th quarter, Holdings Channel reports. The firm owned 4,559 shares of the company’s stock after selling 150 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Cencora were worth $1,024,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Swedbank AB raised its position in shares of Cencora by 2.3% in the third quarter. Swedbank AB now owns 1,394,449 shares of the company’s stock valued at $313,863,000 after buying an additional 31,104 shares during the last quarter. Pinnacle Associates Ltd. raised its position in shares of Cencora by 11.5% in the third quarter. Pinnacle Associates Ltd. now owns 1,897 shares of the company’s stock valued at $390,000 after buying an additional 196 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Cencora in the third quarter valued at approximately $62,000. Van ECK Associates Corp raised its position in shares of Cencora by 14.3% in the third quarter. Van ECK Associates Corp now owns 163,398 shares of the company’s stock valued at $38,321,000 after buying an additional 20,456 shares during the last quarter. Finally, Intact Investment Management Inc. acquired a new position in shares of Cencora in the third quarter valued at approximately $70,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Robert W. Baird upped their price target on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Evercore ISI upped their price target on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. upped 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. Finally, Mizuho started coverage on shares of Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and an average target price of $277.90.

Cencora Price Performance

Cencora stock opened at $255.22 on Tuesday. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $262.26. The firm has a fifty day moving average of $242.26 and a 200-day moving average of $237.98. The firm has a market capitalization of $49.49 billion, a P/E ratio of 36.30, a PEG ratio of 1.31 and a beta of 0.49. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. As a group, analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s payout ratio is currently 31.29%.

Insider Transactions at Cencora

In other news, EVP Silvana Battaglia sold 5,000 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the completion of the transaction, the executive vice president now directly owns 15,374 shares in the company, valued at approximately $3,724,197.76. This represents a 24.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 10.80% of the company’s stock.

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.