MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 19,665 Shares of Cencora, Inc. (NYSE:COR)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH decreased its position in Cencora, Inc. (NYSE:COR) by 18.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 88,167 shares of the company’s stock after selling 19,665 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Cencora were worth $19,812,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on COR. Evercore ISI upped their target price on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Robert W. Baird lifted their target price on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Barclays boosted their price target on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. UBS Group lifted their price objective on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Leerink Partners decreased their target price on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $275.60.

Cencora Trading Up 0.4 %

NYSE COR opened at $247.84 on Friday. The stock’s fifty day moving average price is $237.26 and its 200-day moving average price is $234.40. 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 stock has a market cap of $47.90 billion, a P/E ratio of 33.00, a P/E/G ratio of 1.53 and a beta of 0.49. Cencora, Inc. has a 12 month low of $214.77 and a 12 month high of $253.27.

Cencora Increases Dividend

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

Insiders Place Their Bets

In other news, EVP Silvana Battaglia sold 1,678 shares of the business’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 transaction, the executive vice president now owns 20,329 shares in the company, valued at $4,649,648.88. The trade was a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction that occurred 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 completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,187 shares of company stock valued at $17,790,912. Insiders own 15.80% of the company’s stock.

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.