Howe & Rusling Inc. Sells 484 Shares of Cencora, Inc. (NYSE:COR)

Howe & Rusling Inc. cut its holdings in shares of Cencora, Inc. (NYSE:COR) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,678 shares of the company’s stock after selling 484 shares during the quarter. Howe & Rusling Inc.’s holdings in Cencora were worth $4,421,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in Cencora during the 4th quarter valued at approximately $322,460,000. Wellington Management Group LLP boosted its position in shares of 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. Amundi grew its stake in Cencora by 30.8% during the fourth quarter. Amundi now owns 1,338,710 shares of the company’s stock valued at $318,385,000 after acquiring an additional 314,846 shares in the last quarter. Nordea Investment Management AB increased its holdings in Cencora by 40.2% in the 4th quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock valued at $243,173,000 after acquiring an additional 308,773 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its stake in Cencora by 21.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock worth $368,771,000 after purchasing an additional 292,600 shares in the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Price Performance

COR stock opened at $271.32 on Thursday. 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 12 month low of $214.77 and a 12 month high of $271.86. The stock has a market cap of $52.61 billion, a PE ratio of 38.59, a P/E/G ratio of 1.31 and a beta of 0.51. The company has a 50-day moving average price of $252.47 and a 200 day moving average price of $240.68.

Cencora (NYSE:COR) last released its earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. Equities research analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.55 per share. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 0.81%. Cencora’s dividend payout ratio (DPR) is 31.29%.

Insider Activity

In related news, EVP Silvana Battaglia sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $242.24, for a total value of $1,211,200.00. Following the completion of the sale, the executive vice president now owns 15,374 shares in the company, valued at approximately $3,724,197.76. The trade was a 24.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 14,578 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $269.51, for a total value of $3,928,916.78. Following the transaction, the chairman now owns 317,913 shares in the company, valued at $85,680,732.63. The trade was a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,675 shares of company stock valued at $8,034,778. 10.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on COR. JPMorgan Chase & Co. lifted their target price on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Mizuho initiated coverage on Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price for the company. Wells Fargo & Company upped their price target 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, Evercore ISI lifted their price objective on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $280.20.

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.