Insider Selling: Cencora, Inc. (NYSE:COR) EVP Sells 1,678 Shares of Stock

Cencora, Inc. (NYSE:COR) EVP Silvana Battaglia sold 1,678 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the sale, the executive vice president now owns 20,329 shares of the company’s stock, valued at $4,649,648.88. This represents a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Cencora Stock Performance

COR traded down $0.05 during trading on Monday, reaching $227.64. 940,758 shares of the company’s stock were exchanged, compared to its average volume of 1,386,326. 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 business has a 50 day moving average price of $239.00 and a 200 day moving average price of $234.13. Cencora, Inc. has a fifty-two week low of $202.43 and a fifty-two week high of $253.27. The company has a market capitalization of $44.00 billion, a P/E ratio of 30.31, a PEG ratio of 1.54 and a beta of 0.45.

Cencora Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.55 dividend. This is a positive change from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date was Friday, November 15th. This represents a $2.20 annualized dividend and a yield of 0.97%. Cencora’s payout ratio is currently 29.29%.

Institutional Investors Weigh In On Cencora

Several institutional investors and hedge funds have recently made changes to their positions in COR. State Street Corp lifted its holdings in Cencora by 3.8% during the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock valued at $1,810,970,000 after purchasing an additional 291,867 shares during the last quarter. Wellington Management Group LLP increased 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 worth $1,168,927,000 after buying an additional 338,452 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Cencora by 4.7% in the third quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock valued at $941,183,000 after acquiring an additional 189,054 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Cencora by 6,855.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock worth $464,874,000 after acquiring an additional 2,035,679 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Cencora by 3.7% during the 2nd quarter. Legal & General Group Plc now owns 1,875,445 shares of the company’s stock worth $422,538,000 after acquiring an additional 67,287 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Bank of America reiterated a “neutral” rating and set a $245.00 price target (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. UBS Group increased their price target on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Mizuho initiated coverage on shares of Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of Cencora from $249.00 to $237.00 and set an “equal weight” rating for the company in a report on Friday, December 13th. Finally, StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $275.60.

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.