Cencora, Inc. (NYSE:COR) Chairman Sells $12,198,500.00 in Stock

Cencora, Inc. (NYSE:COR) Chairman Steven H. Collis sold 50,000 shares of Cencora stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the completion of the transaction, the chairman now directly owns 326,557 shares in the company, valued at approximately $79,670,111.29. This represents a 13.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Cencora Stock Performance

COR traded up $4.17 during trading hours on Tuesday, reaching $248.40. The company’s stock had a trading volume of 965,675 shares, compared to its average volume of 1,398,565. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. The firm has a market cap of $48.95 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 1.63 and a beta of 0.44. The company’s 50-day moving average is $233.28 and its 200-day moving average is $231.85. Cencora, Inc. has a 52 week low of $195.83 and a 52 week high of $251.56.

Cencora Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be 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 dividend yield of 0.89%. The ex-dividend date is Friday, November 15th. Cencora’s dividend payout ratio is 29.29%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on COR shares. Barclays boosted their target price on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Wells Fargo & Company boosted their target price on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. UBS Group lifted their price target on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Evercore ISI lifted their price target on shares of Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their price target 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. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cencora has a consensus rating of “Moderate Buy” and an average target price of $271.20.

Institutional Trading of Cencora

Large investors have recently modified their holdings of the stock. New Millennium Group LLC acquired a new stake in shares of Cencora during the second quarter valued at about $26,000. MFA Wealth Advisors LLC bought a new position in shares of Cencora during the second quarter worth about $30,000. Concord Wealth Partners bought a new position in shares of Cencora during the third quarter worth about $30,000. LRI Investments LLC bought a new stake in Cencora in the first quarter worth approximately $31,000. Finally, SYSTM Wealth Solutions LLC bought a new stake in Cencora in the second quarter worth approximately $36,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Company 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.