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 business’s stock in a transaction dated 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 in the company, valued at $79,670,111.29. This trade represents a 13.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Cencora Stock Performance

Shares of Cencora stock opened at $249.70 on Thursday. The company has a market cap of $49.20 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 1.63 and a beta of 0.44. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. The company has a 50 day moving average of $233.56 and a 200-day moving average of $232.01. Cencora, Inc. has a 1-year low of $195.83 and a 1-year high of $251.56.

Cencora Increases Dividend

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

Hedge Funds Weigh In On Cencora

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. New Millennium Group LLC bought a new position in Cencora in the 2nd quarter valued at approximately $26,000. MFA Wealth Advisors LLC bought a new position in Cencora in the 2nd quarter valued at approximately $30,000. Concord Wealth Partners acquired a new position in Cencora in the 3rd quarter valued at approximately $30,000. LRI Investments LLC acquired a new position in Cencora in the 1st quarter valued at approximately $31,000. Finally, SYSTM Wealth Solutions LLC acquired a new position in Cencora in the 2nd quarter valued at approximately $36,000. Institutional investors own 97.52% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on COR shares. JPMorgan Chase & Co. boosted their price objective on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. 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 research note on Thursday, November 7th. 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 research note on Thursday, August 1st. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Finally, Bank of America restated a “neutral” rating and set a $245.00 price objective (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.20.

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.