Lincoln Capital Corp Decreases Position in Cencora, Inc. (NYSE:COR)

Lincoln Capital Corp lowered its stake in shares of Cencora, Inc. (NYSE:COR) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,943 shares of the company’s stock after selling 315 shares during the quarter. Cencora makes up about 2.1% of Lincoln Capital Corp’s holdings, making the stock its 17th biggest position. Lincoln Capital Corp’s holdings in Cencora were worth $5,155,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. State Street Corp increased its stake in Cencora by 3.8% in the third quarter. State Street Corp now owns 8,045,896 shares of the company’s stock valued at $1,810,970,000 after purchasing an additional 291,867 shares during the period. Wellington Management Group LLP lifted its stake in shares of Cencora by 7.0% in the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock worth $1,168,927,000 after acquiring an additional 338,452 shares during the period. Geode Capital Management LLC increased its stake in shares of Cencora by 4.7% during the third quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock worth $941,183,000 after acquiring an additional 189,054 shares during the period. Pacer Advisors Inc. raised its holdings in Cencora by 6,855.3% during the third quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock worth $464,874,000 after purchasing an additional 2,035,679 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in Cencora by 3.7% in the second quarter. Legal & General Group Plc now owns 1,875,445 shares of the company’s stock valued at $422,538,000 after purchasing an additional 67,287 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Transactions at Cencora

In other news, Chairman Steven H. Collis sold 50,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the transaction, the chairman now owns 326,557 shares of the company’s stock, valued at approximately $79,670,111.29. This trade represents a 13.28 % 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 company’s stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 73,187 shares of company stock valued at $17,790,912. Corporate insiders own 15.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on COR. Barclays boosted their target price on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Evercore ISI increased their target price on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. UBS Group upped their price target on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Leerink Partners decreased their target price on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Finally, Wells Fargo & Company cut their price target on Cencora from $249.00 to $237.00 and set an “equal weight” rating for the company in a research note on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $275.60.

Cencora Trading Up 0.4 %

Shares of COR opened at $247.84 on Friday. The stock has a market cap of $47.90 billion, a PE ratio of 33.00, a P/E/G ratio of 1.53 and a beta of 0.49. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. Cencora, Inc. has a 12 month low of $214.77 and a 12 month high of $253.27. The stock’s 50-day moving average is $237.26 and its two-hundred day moving average is $234.40.

Cencora Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.89%. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio (DPR) is currently 29.29%.

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.