American Trust Sells 80 Shares of Cencora, Inc. (NYSE:COR)

American Trust lowered its holdings in Cencora, Inc. (NYSE:COR) by 5.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,339 shares of the company’s stock after selling 80 shares during the period. American Trust’s holdings in Cencora were worth $301,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Cerity Partners LLC raised its holdings in Cencora by 10.1% during the 3rd quarter. Cerity Partners LLC now owns 39,457 shares of the company’s stock valued at $8,881,000 after acquiring an additional 3,610 shares during the period. Mackenzie Financial Corp grew its position in shares of Cencora by 9.9% in the second quarter. Mackenzie Financial Corp now owns 81,001 shares of the company’s stock valued at $18,250,000 after purchasing an additional 7,266 shares in the last quarter. Portfolio Design Labs LLC bought a new stake in shares of Cencora during the 3rd quarter valued at $1,404,000. &PARTNERS lifted its holdings in Cencora by 146.5% during the 2nd quarter. &PARTNERS now owns 5,870 shares of the company’s stock worth $1,323,000 after purchasing an additional 3,489 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Cencora by 4.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 560,450 shares of the company’s stock worth $126,269,000 after purchasing an additional 22,735 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Price Performance

COR opened at $232.24 on Friday. The stock has a 50-day moving average price of $238.36 and a 200-day moving average price of $233.91. The stock has a market capitalization of $44.89 billion, a P/E ratio of 30.92, a PEG ratio of 1.54 and a beta of 0.45. Cencora, Inc. has a 12-month low of $195.83 and a 12-month high of $253.27. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84.

Cencora Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $0.55 per share. The ex-dividend date was Friday, November 15th. This is an increase from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 0.95%. Cencora’s dividend payout ratio (DPR) is 29.29%.

Wall Street Analysts Forecast Growth

COR has been the topic of a number of recent analyst reports. Mizuho assumed coverage on shares of Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target on the stock. Barclays increased their target price on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Leerink Partners reduced their price target on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Finally, UBS Group lifted their price objective on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $275.60.

Insider Transactions at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction dated 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 trade represents a 6.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 93,018 shares of company stock worth $22,478,942. 15.80% of the stock is currently owned by insiders.

Cencora 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.