Insider Selling: 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 stock in a transaction that occurred 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 completion of the transaction, the chairman now owns 326,557 shares in the company, valued at $79,670,111.29. This trade represents a 13.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Cencora Trading Up 0.5 %

Shares of Cencora stock opened at $249.69 on Friday. The company has a market capitalization of $49.20 billion, a P/E ratio of 33.25, a P/E/G ratio of 1.63 and a beta of 0.44. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. The company has a fifty day moving average of $234.44 and a 200 day moving average of $232.26. Cencora, Inc. has a fifty-two week low of $195.83 and a fifty-two week high of $251.56.

Cencora Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Friday, November 15th. This is an increase from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio is 29.29%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Leerink Partners decreased 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. Bank of America reissued a “neutral” rating and set a $245.00 price objective (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. boosted their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, UBS Group boosted their price objective on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Cencora presently has a consensus rating of “Moderate Buy” and a consensus target price of $271.20.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in COR. BOKF NA bought a new position in shares of Cencora during the 1st quarter valued at about $260,000. SVB Wealth LLC purchased a new stake in shares of Cencora during the 1st quarter valued at about $598,000. Silvercrest Asset Management Group LLC purchased a new stake in shares of Cencora during the 1st quarter valued at about $7,976,000. Kennedy Capital Management LLC purchased a new stake in shares of Cencora during the 1st quarter valued at about $705,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Cencora during the 1st quarter valued at about $2,194,000. Institutional investors own 97.52% of the company’s stock.

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.