Cencora, Inc. (NYSE:COR) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lessened its holdings in shares of Cencora, Inc. (NYSE:COR) by 12.9% in the fourth quarter, HoldingsChannel reports. The fund owned 1,300,417 shares of the company’s stock after selling 191,893 shares during the period. Alliancebernstein L.P.’s holdings in Cencora were worth $292,178,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Whittier Trust Co. grew its position in Cencora by 0.6% in the 4th quarter. Whittier Trust Co. now owns 7,856 shares of the company’s stock valued at $1,765,000 after buying an additional 44 shares in the last quarter. Shepherd Financial Partners LLC boosted its holdings in shares of Cencora by 0.9% in the fourth quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company’s stock valued at $1,223,000 after acquiring an additional 46 shares in the last quarter. WASHINGTON TRUST Co increased its stake in shares of Cencora by 37.7% during the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock valued at $38,000 after acquiring an additional 46 shares during the period. JFS Wealth Advisors LLC raised its holdings in Cencora by 63.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 46 shares in the last quarter. Finally, Cullen Frost Bankers Inc. lifted its position in Cencora by 1.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 4,463 shares of the company’s stock worth $1,003,000 after purchasing an additional 47 shares during the period. Institutional investors own 97.52% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on COR. Evercore ISI boosted their price objective on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Mizuho assumed coverage on shares of Cencora in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. raised their target price on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and a consensus target price of $280.20.

Cencora Trading Up 1.1 %

NYSE COR opened at $278.17 on Tuesday. The firm’s 50 day moving average price is $254.53 and its two-hundred day moving average price is $241.53. The stock has a market cap of $53.94 billion, a price-to-earnings ratio of 39.57, a PEG ratio of 1.31 and a beta of 0.51. Cencora, Inc. has a twelve month low of $214.77 and a twelve month high of $280.70. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. Equities analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s dividend payout ratio is currently 31.29%.

Insider Activity at Cencora

In other news, CAO Lazarus Krikorian sold 2,000 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $260.06, for a total transaction of $520,120.00. Following the transaction, the chief accounting officer now directly owns 20,154 shares in the company, valued at $5,241,249.24. The trade was a 9.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Steven H. Collis sold 14,578 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $269.51, for a total value of $3,928,916.78. Following the sale, the chairman now owns 317,913 shares of the company’s stock, valued at approximately $85,680,732.63. This represents a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,675 shares of company stock valued at $8,034,778. Corporate insiders own 10.80% 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.