Sheets Smith Wealth Management Sells 90 Shares of Cencora, Inc. (NYSE:COR)

Sheets Smith Wealth Management lessened its holdings in Cencora, Inc. (NYSE:COR) by 0.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 16,473 shares of the company’s stock after selling 90 shares during the period. Sheets Smith Wealth Management’s holdings in Cencora were worth $3,708,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COR. New Millennium Group LLC purchased a new stake in Cencora during the second quarter worth $26,000. TCTC Holdings LLC purchased a new stake in shares of Cencora during the 1st quarter worth $29,000. TFO Wealth Partners LLC purchased a new stake in shares of Cencora during the 1st quarter worth $30,000. MFA Wealth Advisors LLC bought a new stake in Cencora during the second quarter valued at about $30,000. Finally, Concord Wealth Partners purchased a new position in Cencora in the third quarter valued at about $30,000. 97.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wells Fargo & Company increased their price target on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Barclays increased their target price on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday. Bank of America reaffirmed a “neutral” rating and issued a $245.00 price target (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Leerink Partners decreased their price objective on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Finally, StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $271.20.

Cencora Stock Up 0.3 %

Cencora stock opened at $248.41 on Friday. The business’s 50-day simple moving average is $231.95 and its two-hundred day simple moving average is $230.79. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.55 and a current ratio of 0.88. The company has a market cap of $48.95 billion, a PE ratio of 33.08, a PEG ratio of 1.55 and a beta of 0.44. Cencora, Inc. has a fifty-two week low of $191.11 and a fifty-two week high of $251.00.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.55 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.89%. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio is currently 27.16%.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the sale, the chairman now directly owns 285,088 shares in the company, valued at approximately $67,223,750.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 15.80% of the stock is owned by corporate 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.