Cencora, Inc. (NYSE:COR) Chairman Steven H. Collis Sells 50,000 Shares

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 stock was sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the sale, the chairman now directly owns 326,557 shares of the company’s stock, valued at approximately $79,670,111.29. This trade represents a 13.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Cencora Stock Performance

Shares of Cencora stock opened at $248.40 on Wednesday. The firm has a market cap of $48.95 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 1.63 and a beta of 0.44. The firm’s 50-day simple moving average is $233.28 and its 200-day simple moving average is $231.85. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. 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. 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 0.89%. 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%.

Institutional Investors Weigh In On Cencora

A number of institutional investors have recently modified their holdings of COR. Boston Partners bought a new stake in shares of Cencora during the 1st quarter valued at about $1,001,269,000. Pacer Advisors Inc. grew its position in shares of Cencora by 6,855.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after buying an additional 2,035,679 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Cencora during the 1st quarter valued at about $128,825,000. Bank of Montreal Can grew its position in shares of Cencora by 136.8% during the 2nd quarter. Bank of Montreal Can now owns 641,887 shares of the company’s stock valued at $153,623,000 after buying an additional 370,841 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Cencora by 155.0% during the 2nd quarter. American Century Companies Inc. now owns 598,438 shares of the company’s stock valued at $134,828,000 after buying an additional 363,796 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Evercore ISI boosted their price objective on shares of Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Robert W. Baird boosted their price objective on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. UBS Group boosted their price objective on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays boosted their price objective on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price objective on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $271.20.

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.