American Trust Reduces Stock Position in Cencora, Inc. (NYSE:COR)

American Trust lessened its holdings in shares of Cencora, Inc. (NYSE:COR) by 5.6% during the third quarter, Holdings Channel reports. The firm owned 1,339 shares of the company’s stock after selling 80 shares during the quarter. American Trust’s holdings in Cencora were worth $301,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of COR. New Millennium Group LLC bought a new position in shares of Cencora during the second quarter valued at approximately $26,000. MFA Wealth Advisors LLC purchased a new position in Cencora during the 2nd quarter valued at $30,000. Concord Wealth Partners purchased a new position in Cencora during the 3rd quarter valued at $30,000. SYSTM Wealth Solutions LLC bought a new position in Cencora in the 2nd quarter worth $36,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Cencora during the 3rd quarter valued at about $41,000. Institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total value of $5,208,619.44. Following the completion of the sale, the chairman now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 93,018 shares of company stock worth $22,478,942 in the last three months. Insiders own 15.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on COR. Wells Fargo & Company decreased their price target on shares of Cencora from $249.00 to $237.00 and set an “equal weight” rating for the company in a research note on Friday. Mizuho initiated coverage on Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price for the company. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Evercore ISI raised their price objective on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cencora currently has an average rating of “Moderate Buy” and an average price target of $275.60.

Cencora Stock Performance

Shares of COR stock opened at $232.24 on Friday. The company has a market capitalization of $44.89 billion, a price-to-earnings ratio of 30.92, a price-to-earnings-growth ratio of 1.54 and a beta of 0.45. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. Cencora, Inc. has a one year low of $195.83 and a one year high of $253.27. The company’s 50-day moving average is $238.36 and its 200 day moving average is $233.91.

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.55 per share. The ex-dividend date was Friday, November 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.95%. This is an increase from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio (DPR) is 29.29%.

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.