Cullen Investment Group LTD. Cuts Position in Cencora, Inc. (NYSE:COR)

Cullen Investment Group LTD. cut its holdings in shares of Cencora, Inc. (NYSE:COR) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,564 shares of the company’s stock after selling 229 shares during the period. Cullen Investment Group LTD.’s holdings in Cencora were worth $801,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COR. Lake Street Advisors Group LLC grew its holdings in shares of Cencora by 1.3% during the third quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock valued at $769,000 after buying an additional 43 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in Cencora by 1.0% in the third quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock valued at $1,001,000 after purchasing an additional 46 shares during the last quarter. Prime Capital Investment Advisors LLC raised its position in Cencora by 1.2% during the third quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock valued at $848,000 after acquiring an additional 46 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in shares of Cencora by 1.3% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 3,669 shares of the company’s stock valued at $826,000 after purchasing an additional 48 shares during the period. Finally, Impact Partnership Wealth LLC grew its position in shares of Cencora by 2.6% during the 3rd quarter. Impact Partnership Wealth LLC now owns 2,042 shares of the company’s stock valued at $460,000 after acquiring an additional 51 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the transaction, the chairman now directly owns 306,752 shares of the company’s stock, valued at $74,283,064.32. This represents a 6.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Silvana Battaglia sold 1,678 shares of the company’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 transaction, the executive vice president now owns 20,329 shares in the company, valued at $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 have sold a total of 94,696 shares of company stock valued at $22,862,734 over the last quarter. 15.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on COR. Barclays increased their price objective on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Leerink Partners dropped their target price on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Mizuho initiated coverage on shares of Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective for the company. Bank of America restated a “neutral” rating and issued a $245.00 target price (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Finally, Robert W. Baird raised their price target on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $275.60.

Cencora Trading Down 0.0 %

COR opened at $236.10 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. The firm has a market cap of $45.63 billion, a price-to-earnings ratio of 31.44, a price-to-earnings-growth ratio of 1.54 and a beta of 0.49. The business’s 50 day moving average is $237.82 and its two-hundred day moving average is $233.54. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $253.27.

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.93%. This is a boost from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date was Friday, November 15th. Cencora’s dividend payout ratio is presently 29.29%.

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.