OLD National Bancorp IN Has $2.27 Million Position in Cencora, Inc. (NYSE:COR)

OLD National Bancorp IN lowered its position in Cencora, Inc. (NYSE:COR) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,087 shares of the company’s stock after selling 280 shares during the quarter. OLD National Bancorp IN’s holdings in Cencora were worth $2,266,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. State Street Corp lifted 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 acquiring an additional 291,867 shares during the last quarter. Wellington Management Group LLP lifted its stake in Cencora by 7.0% in the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after acquiring an additional 338,452 shares during the last quarter. Geode Capital Management LLC lifted its stake in Cencora by 4.7% in the third quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock valued at $941,183,000 after acquiring an additional 189,054 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Cencora by 6.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,204,242 shares of the company’s stock valued at $495,249,000 after acquiring an additional 138,868 shares during the last quarter. Finally, Two Sigma Advisers LP raised its position in shares of Cencora by 21.7% in the third quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock valued at $368,771,000 after purchasing an additional 292,600 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In other Cencora news, Chairman Steven H. Collis sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $243.97, for a total value of $12,198,500.00. Following the transaction, the chairman now directly owns 326,557 shares of the company’s stock, valued at $79,670,111.29. This trade represents a 13.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 1,678 shares of the firm’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 transaction of $383,792.16. Following the completion of the sale, the executive vice president now owns 20,329 shares in the company, valued at approximately $4,649,648.88. The trade was a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,187 shares of company stock valued at $17,790,912 in the last ninety days. 15.80% of the stock is currently owned by company insiders.

Cencora Price Performance

COR stock opened at $258.54 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. Cencora, Inc. has a 12 month low of $214.77 and a 12 month high of $261.25. The firm has a market cap of $49.97 billion, a P/E ratio of 34.43, a P/E/G ratio of 1.54 and a beta of 0.49. The company’s 50-day moving average price is $238.56 and its two-hundred day moving average price is $235.60.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.55 dividend. This is a positive change from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 0.85%. The ex-dividend date was Friday, November 15th. Cencora’s dividend payout ratio (DPR) is currently 29.29%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on COR. Barclays increased their price objective 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. Mizuho began coverage on shares of Cencora in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective on the stock. Evercore ISI increased their price objective on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. UBS Group increased their price objective on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company increased their price objective on shares of Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $278.40.

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.