Cencora, Inc. (NYSE:COR) Stake Cut by Van ECK Associates Corp

Van ECK Associates Corp cut its position in shares of Cencora, Inc. (NYSE:CORFree Report) by 9.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 147,553 shares of the company’s stock after selling 15,845 shares during the quarter. Van ECK Associates Corp owned 0.08% of Cencora worth $33,152,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in COR. Concord Wealth Partners bought a new stake in Cencora in the third quarter valued at $30,000. Householder Group Estate & Retirement Specialist LLC lifted its stake in Cencora by 85.2% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock valued at $33,000 after buying an additional 69 shares during the last quarter. Kentucky Trust Co bought a new stake in Cencora in the fourth quarter valued at $33,000. Ashton Thomas Securities LLC bought a new stake in Cencora in the third quarter valued at $41,000. Finally, Modus Advisors LLC bought a new stake in Cencora in the fourth quarter valued at $54,000. 97.52% of the stock is currently owned by institutional investors.

Cencora Price Performance

NYSE:COR opened at $243.03 on Friday. The business’s 50-day moving average price is $238.70 and its 200 day moving average price is $237.38. The firm has a market cap of $46.97 billion, a P/E ratio of 34.57, a PEG ratio of 1.49 and a beta of 0.49. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $262.26. The company has a quick ratio of 0.53, a current ratio of 0.92 and a debt-to-equity ratio of 16.40.

Cencora (NYSE:CORGet Free Report) last released its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. As a group, sell-side analysts predict that Cencora, Inc. will post 15.36 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Friday, February 14th. Cencora’s dividend payout ratio is presently 31.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on COR shares. JPMorgan Chase & Co. raised their target price on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Mizuho assumed coverage on shares of Cencora in a research note on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective on the stock. Wells Fargo & Company lifted their price objective on shares of Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Barclays lifted their price objective 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. Finally, Evercore ISI lifted their price objective on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $277.90.

Get Our Latest Stock Analysis on Cencora

Insiders Place Their Bets

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total value of $5,208,619.44. Following the completion of the transaction, the chairman now directly owns 306,752 shares in the company, valued at $74,283,064.32. This trade represents a 6.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction dated 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 owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. The trade was a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,187 shares of company stock worth $17,790,912 over the last ninety days. 10.80% of the stock is currently owned by company insiders.

About Cencora

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Cencora (NYSE:COR)

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