Steven H. Collis Sells 21,509 Shares of Cencora, Inc. (NYSE:COR) Stock

Cencora, Inc. (NYSE:COR) Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the completion of the sale, the chairman now directly owns 306,752 shares in the company, valued at $74,283,064.32. This represents a 6.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Cencora Stock Performance

Cencora stock traded up $2.30 during mid-day trading on Thursday, reaching $245.50. The company’s stock had a trading volume of 611,199 shares, compared to its average volume of 1,402,125. The firm has a market cap of $48.38 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 1.60 and a beta of 0.44. Cencora, Inc. has a twelve month low of $195.83 and a twelve month high of $251.56. The business has a 50 day moving average price of $232.96 and a 200-day moving average price of $231.37. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84.

Cencora Increases Dividend

The firm 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. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio is currently 29.29%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Leerink Partners reduced their target price on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Evercore ISI increased their price objective on shares of Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised their price target on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Finally, Wells Fargo & Company raised their target price on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Three 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.20.

Hedge Funds Weigh In On Cencora

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD acquired a new position in Cencora during the 1st quarter valued at approximately $2,183,619,000. State Street Corp lifted its stake in Cencora by 3.8% in the third quarter. State Street Corp now owns 8,045,896 shares of the company’s stock valued at $1,810,970,000 after buying an additional 291,867 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Cencora by 7.0% during the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after acquiring an additional 338,452 shares during the period. Geode Capital Management LLC increased its holdings in shares of Cencora by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock worth $941,183,000 after acquiring an additional 189,054 shares during the period. Finally, Boston Partners bought a new stake in Cencora in the 1st quarter valued at about $1,001,269,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

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.