Cencora, Inc. (NYSE:COR) Chairman Sells $12,198,500.00 in Stock

Cencora, Inc. (NYSE:COR) Chairman Steven H. Collis sold 50,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the completion of the sale, the chairman now directly owns 326,557 shares in the company, valued at $79,670,111.29. This represents a 13.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Cencora Price Performance

Cencora stock traded up $4.17 during trading hours on Tuesday, hitting $248.40. 965,675 shares of the company traded hands, compared to its average volume of 1,398,565. The firm has a market cap of $48.95 billion, a P/E ratio of 32.53, a P/E/G ratio of 1.63 and a beta of 0.44. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. The firm’s 50-day simple moving average is $233.28 and its two-hundred day simple moving average is $231.85. Cencora, Inc. has a 1-year low of $195.83 and a 1-year high of $251.56.

Cencora Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.55 per share. This is a positive change 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 annualized dividend and a dividend yield of 0.89%. Cencora’s dividend payout ratio (DPR) is 29.29%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. UBS Group boosted their target price on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Barclays boosted their target price on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” 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 note on Friday, September 20th. Evercore ISI boosted their target price on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Bank of America restated a “neutral” rating and set a $245.00 price target (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kingswood Wealth Advisors LLC acquired a new position in shares of Cencora in the second quarter worth about $655,000. Czech National Bank boosted its holdings in shares of Cencora by 8.3% during the second quarter. Czech National Bank now owns 31,546 shares of the company’s stock worth $7,107,000 after purchasing an additional 2,414 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Cencora by 9.9% during the second quarter. Mackenzie Financial Corp now owns 81,001 shares of the company’s stock worth $18,250,000 after purchasing an additional 7,266 shares during the period. HM Payson & Co. acquired a new stake in shares of Cencora during the first quarter worth approximately $708,000. Finally, Portfolio Design Labs LLC acquired a new stake in shares of Cencora during the third quarter worth approximately $1,404,000. 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.