Cencora, Inc. (NYSE:COR) Stock Position Reduced by iA Global Asset Management Inc.

iA Global Asset Management Inc. cut its stake in shares of Cencora, Inc. (NYSE:COR) by 12.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,210 shares of the company’s stock after selling 877 shares during the period. iA Global Asset Management Inc.’s holdings in Cencora were worth $1,395,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in COR. JFS Wealth Advisors LLC grew its position in Cencora by 63.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 46 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Cencora during the fourth quarter valued at approximately $30,000. Householder Group Estate & Retirement Specialist LLC grew its position in Cencora by 85.2% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock valued at $33,000 after purchasing an additional 69 shares in the last quarter. Kentucky Trust Co purchased a new position in Cencora during the fourth quarter valued at approximately $33,000. Finally, WASHINGTON TRUST Co lifted its stake in Cencora by 37.7% in the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock valued at $38,000 after acquiring an additional 46 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on COR. Evercore ISI lifted their target price 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. Mizuho began coverage on shares of Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price for the company. StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Wells Fargo & Company lifted their target price on shares of Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $280.20.

Cencora Price Performance

Shares of Cencora stock opened at $266.91 on Friday. The firm has a fifty day simple moving average of $250.62 and a 200-day simple moving average of $240.06. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $271.08. The stock has a market capitalization of $51.76 billion, a price-to-earnings ratio of 37.97, a PEG ratio of 1.31 and a beta of 0.51.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. On average, sell-side analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s payout ratio is currently 31.29%.

Insider Activity at Cencora

In related news, CAO Lazarus Krikorian sold 2,000 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $260.06, for a total transaction of $520,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,154 shares in the company, valued at $5,241,249.24. This represents a 9.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Silvana Battaglia sold 5,000 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the transaction, the executive vice president now owns 15,374 shares of the company’s stock, valued at approximately $3,724,197.76. The trade was a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,970 shares of company stock worth $2,998,670 in the last ninety days. 10.80% of the stock is currently owned by insiders.

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.