Cencora, Inc. (NYSE:COR) Position Reduced by Summitry LLC

Summitry LLC lowered its stake in Cencora, Inc. (NYSE:COR) by 7.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 26,190 shares of the company’s stock after selling 2,059 shares during the period. Summitry LLC’s holdings in Cencora were worth $5,884,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Whittier Trust Co. boosted its holdings in Cencora by 0.6% in the fourth quarter. Whittier Trust Co. now owns 7,856 shares of the company’s stock worth $1,765,000 after purchasing an additional 44 shares during the period. Shepherd Financial Partners LLC lifted its position in shares of Cencora by 0.9% in the 4th quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company’s stock worth $1,223,000 after buying an additional 46 shares during the last quarter. WASHINGTON TRUST Co boosted its holdings in shares of Cencora by 37.7% in the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock valued at $38,000 after buying an additional 46 shares during the period. JFS Wealth Advisors LLC grew its position in shares of Cencora by 63.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after buying an additional 46 shares during the last quarter. Finally, Cullen Frost Bankers Inc. raised its stake in Cencora by 1.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 4,463 shares of the company’s stock worth $1,003,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Trading Up 0.3 %

Shares of NYSE:COR opened at $268.31 on Wednesday. The company has a 50 day moving average of $251.80 and a 200-day moving average of $240.46. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. The firm has a market cap of $52.03 billion, a P/E ratio of 38.17, a P/E/G ratio of 1.31 and a beta of 0.51. Cencora, Inc. has a twelve month low of $214.77 and a twelve month high of $271.08.

Cencora (NYSE:COR) last released its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping 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%. As a group, analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.82%. The ex-dividend date was Friday, February 14th. Cencora’s dividend payout ratio (DPR) is presently 31.29%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. upped their price objective on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Evercore ISI raised their target price on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Wells Fargo & Company upped their price target on shares of Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Finally, Mizuho assumed coverage on shares of Cencora in a research note on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $280.20.

Insider Buying and Selling at Cencora

In other news, EVP Silvana Battaglia sold 5,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the sale, the executive vice president now directly owns 15,374 shares of the company’s stock, valued at $3,724,197.76. This trade represents a 24.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Lazarus Krikorian sold 2,000 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $260.06, for a total value of $520,120.00. Following the sale, the chief accounting officer now directly owns 20,154 shares in the company, valued at $5,241,249.24. This trade represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,970 shares of company stock valued at $2,998,670. 10.80% of the stock is owned by insiders.

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.