Hennessy Advisors Inc. Sells 700 Shares of Cencora, Inc. (NYSE:COR)

Hennessy Advisors Inc. trimmed its position in shares of Cencora, Inc. (NYSE:COR) by 5.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,400 shares of the company’s stock after selling 700 shares during the quarter. Hennessy Advisors Inc.’s holdings in Cencora were worth $2,561,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. SYSTM Wealth Solutions LLC bought a new position in Cencora during the 2nd quarter valued at about $36,000. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Cencora by 19.0% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,014 shares of the company’s stock valued at $1,130,000 after buying an additional 800 shares during the period. Hsbc Holdings PLC grew its stake in shares of Cencora by 12.4% during the second quarter. Hsbc Holdings PLC now owns 327,873 shares of the company’s stock valued at $73,872,000 after buying an additional 36,177 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of Cencora by 0.8% in the second quarter. Intech Investment Management LLC now owns 64,921 shares of the company’s stock worth $14,627,000 after buying an additional 534 shares during the period. Finally, Ieq Capital LLC lifted its stake in shares of Cencora by 8.7% during the 2nd quarter. Ieq Capital LLC now owns 9,613 shares of the company’s stock worth $2,166,000 after acquiring an additional 768 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was 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 approximately $74,283,064.32. This represents a 6.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $4,649,648.88. The trade was a 7.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,696 shares of company stock valued at $22,862,734. 15.80% of the stock is currently owned by insiders.

Cencora Stock Performance

Shares of NYSE:COR opened at $242.11 on Friday. The firm has a 50 day moving average of $237.52 and a 200 day moving average of $233.85. 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 company has a market capitalization of $46.80 billion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 1.48 and a beta of 0.49. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $253.27.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, November 15th. This is an increase from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a yield of 0.91%. Cencora’s payout ratio is currently 29.29%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. 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. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Wells Fargo & Company lowered their price objective on shares of Cencora from $249.00 to $237.00 and set an “equal weight” rating for the company in a research report on Friday, December 13th. UBS Group raised their target price on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research 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 analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.60.

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.