Cencora, Inc. (NYSE:COR) Shares Sold by Smith Group Asset Management LLC

Smith Group Asset Management LLC trimmed its stake in Cencora, Inc. (NYSE:COR) by 47.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,480 shares of the company’s stock after selling 1,350 shares during the quarter. Smith Group Asset Management LLC’s holdings in Cencora were worth $333,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of COR. Pacer Advisors Inc. increased its holdings in shares of Cencora by 6,855.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock worth $464,874,000 after buying an additional 2,035,679 shares during the last quarter. Wellington Management Group LLP increased its stake in Cencora by 7.0% during the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock worth $1,168,927,000 after acquiring an additional 338,452 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Cencora by 40.2% in the 4th quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock worth $243,173,000 after purchasing an additional 308,773 shares during the period. Two Sigma Advisers LP lifted its stake in shares of Cencora by 21.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock valued at $368,771,000 after purchasing an additional 292,600 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Cencora by 3.8% during the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock worth $1,810,970,000 after purchasing an additional 291,867 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Transactions at Cencora

In related news, Chairman Steven H. Collis sold 21,509 shares of the business’s stock in a transaction dated 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 completion of the sale, the chairman now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Silvana Battaglia sold 1,678 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $228.72, for a total value of $383,792.16. Following the sale, 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. In the last 90 days, insiders sold 73,187 shares of company stock valued at $17,790,912. Insiders own 15.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Barclays raised their price objective on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Robert W. Baird upped their target price on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Evercore ISI raised their target price on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Mizuho assumed coverage on Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Cencora has a consensus rating of “Moderate Buy” and an average price target of $278.40.

Cencora Stock Performance

Cencora stock opened at $256.45 on Thursday. 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 stock has a 50 day moving average of $238.30 and a 200-day moving average of $235.44. The stock has a market cap of $49.57 billion, a P/E ratio of 34.15, a price-to-earnings-growth ratio of 1.54 and a beta of 0.49. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $257.79.

Cencora Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a dividend of $0.55 per share. This is a positive change from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 0.86%. The ex-dividend date was Friday, November 15th. Cencora’s dividend payout ratio (DPR) is currently 29.29%.

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.