Insider Selling: Cencora, Inc. (NYSE:COR) EVP Sells $383,792.16 in Stock

Cencora, Inc. (NYSE:COR) EVP Silvana Battaglia sold 1,678 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 20,329 shares in the company, valued at approximately $4,649,648.88. This represents a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Cencora Stock Performance

COR opened at $227.54 on Thursday. Cencora, Inc. has a 12-month low of $202.43 and a 12-month high of $253.27. The company has a market cap of $43.98 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 1.54 and a beta of 0.45. 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 company’s 50 day moving average is $238.95 and its 200 day moving average is $234.01.

Cencora Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.55 dividend. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Friday, November 15th. Cencora’s dividend payout ratio (DPR) is currently 29.29%.

Hedge Funds Weigh In On Cencora

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. increased its holdings in Cencora by 6,855.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock worth $464,874,000 after acquiring an additional 2,035,679 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Cencora by 136.8% in the second quarter. Bank of Montreal Can now owns 641,887 shares of the company’s stock worth $153,623,000 after purchasing an additional 370,841 shares during the period. American Century Companies Inc. increased its stake in shares of Cencora by 155.0% in the second quarter. American Century Companies Inc. now owns 598,438 shares of the company’s stock worth $134,828,000 after purchasing an additional 363,796 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Cencora by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after purchasing an additional 338,452 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in shares of Cencora by 21.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock valued at $368,771,000 after buying an additional 292,600 shares in the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on COR. Evercore ISI increased their target price on Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Robert W. Baird increased their price target on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Bank of America reissued a “neutral” rating and set a $245.00 price target (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Barclays increased their target price on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, UBS Group increased their price objective on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.60.

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.