Cairn Investment Group Inc. Cuts Holdings in Cencora, Inc. (NYSE:COR)

Cairn Investment Group Inc. cut its position in shares of Cencora, Inc. (NYSE:COR) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,315 shares of the company’s stock after selling 94 shares during the quarter. Cencora makes up about 1.2% of Cairn Investment Group Inc.’s holdings, making the stock its 28th biggest position. Cairn Investment Group Inc.’s holdings in Cencora were worth $2,093,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Busey Bank raised its position in Cencora by 9.2% in the fourth quarter. Busey Bank now owns 4,699 shares of the company’s stock worth $1,056,000 after acquiring an additional 395 shares during the period. Synergy Asset Management LLC bought a new stake in Cencora in the fourth quarter worth about $15,821,000. Milestone Asset Management LLC raised its position in Cencora by 430.2% in the fourth quarter. Milestone Asset Management LLC now owns 5,461 shares of the company’s stock worth $1,227,000 after acquiring an additional 4,431 shares during the period. Foster & Motley Inc. raised its position in Cencora by 4.1% in the fourth quarter. Foster & Motley Inc. now owns 7,907 shares of the company’s stock worth $1,777,000 after acquiring an additional 314 shares during the period. Finally, Ibex Wealth Advisors bought a new stake in Cencora in the fourth quarter worth about $279,000. Institutional investors own 97.52% of the company’s stock.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $243.97, for a total value of $12,198,500.00. Following the completion of the transaction, the chairman now owns 326,557 shares of the company’s stock, valued at $79,670,111.29. The trade was a 13.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,187 shares of company stock valued at $17,790,912. Corporate insiders own 15.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Barclays lifted their price objective on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Leerink Partners lowered their price target on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Evercore ISI boosted their price target on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Robert W. Baird boosted their price target on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.40.

Cencora Price Performance

Shares of NYSE:COR opened at $256.45 on Thursday. The company has a 50 day moving average of $238.30 and a 200 day moving average of $235.44. The stock has a market cap of $49.57 billion, a P/E ratio of 34.15, a P/E/G ratio of 1.54 and a beta of 0.49. Cencora, Inc. has a 12 month low of $214.77 and a 12 month high of $257.79. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 annualized dividend and a yield of 0.86%. This is a boost from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is currently 29.29%.

Cencora 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.