Cullen Investment Group LTD. Trims Stake in Cencora, Inc. (NYSE:COR)

Cullen Investment Group LTD. cut its position in shares of Cencora, Inc. (NYSE:COR) by 6.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,564 shares of the company’s stock after selling 229 shares during the quarter. Cullen Investment Group LTD.’s holdings in Cencora were worth $801,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in COR. LPL Financial LLC raised its stake in Cencora by 6.3% during the second quarter. LPL Financial LLC now owns 164,327 shares of the company’s stock worth $37,023,000 after purchasing an additional 9,697 shares during the period. BOKF NA boosted its position in shares of Cencora by 106.0% in the second quarter. BOKF NA now owns 2,200 shares of the company’s stock worth $496,000 after buying an additional 1,132 shares during the period. Parallel Advisors LLC raised its holdings in shares of Cencora by 6.4% during the 2nd quarter. Parallel Advisors LLC now owns 4,961 shares of the company’s stock valued at $1,118,000 after buying an additional 299 shares during the period. Oppenheimer Asset Management Inc. grew its position in Cencora by 2.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 28,452 shares of the company’s stock valued at $6,410,000 after acquiring an additional 616 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Cencora by 4.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 560,450 shares of the company’s stock worth $126,269,000 after buying an additional 22,735 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the completion of the transaction, the chairman now owns 306,752 shares in the company, valued at $74,283,064.32. This trade represents a 6.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Silvana Battaglia sold 1,678 shares of the company’s stock in a transaction on Friday, December 20th. The shares were 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 owns 20,329 shares in the company, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 94,696 shares of company stock worth $22,862,734 over the last ninety days. Company insiders own 15.80% of the company’s stock.

Cencora Price Performance

Shares of NYSE:COR opened at $236.10 on Tuesday. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $253.27. The business has a fifty day simple moving average of $237.82 and a 200 day simple moving average of $233.54. 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 firm has a market cap of $45.63 billion, a price-to-earnings ratio of 31.44, a P/E/G ratio of 1.54 and a beta of 0.49.

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.55 dividend. This is a positive change from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.93%. Cencora’s dividend payout ratio (DPR) is currently 29.29%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on COR shares. Robert W. Baird raised their price objective on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Leerink Partners reduced their target price on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Bank of America reissued a “neutral” rating and set a $245.00 target price (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Wells Fargo & Company cut their target price on shares of Cencora from $249.00 to $237.00 and set an “equal weight” rating on the stock in a report on Friday, December 13th. Finally, Mizuho started coverage on shares of Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target for the company. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and an average price target of $275.60.

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.