Farmers Trust Co. Reduces Holdings in Cencora, Inc. (NYSE:COR)

Farmers Trust Co. reduced its position in Cencora, Inc. (NYSE:COR) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,234 shares of the company’s stock after selling 158 shares during the period. Farmers Trust Co.’s holdings in Cencora were worth $1,850,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its holdings in Cencora by 6,855.3% in the third 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. Bank of Montreal Can grew its position in shares of Cencora by 136.8% during the second quarter. Bank of Montreal Can now owns 641,887 shares of the company’s stock worth $153,623,000 after buying an additional 370,841 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Cencora by 155.0% in the second quarter. American Century Companies Inc. now owns 598,438 shares of the company’s stock worth $134,828,000 after buying an additional 363,796 shares during the last quarter. Wellington Management Group LLP raised its holdings 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 in the last quarter. Finally, Nordea Investment Management AB boosted its stake in Cencora by 40.2% during the 4th quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock valued at $243,173,000 after acquiring an additional 308,773 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

COR has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Mizuho started coverage on Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price on the stock. Evercore ISI boosted their price target on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Leerink Partners reduced their price objective on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Finally, Robert W. Baird increased their target price on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.60.

Cencora Price Performance

Shares of NYSE COR traded up $3.64 during mid-day trading on Wednesday, reaching $237.88. 1,030,304 shares of the company traded hands, compared to its average volume of 1,230,890. The stock has a fifty day simple moving average of $237.38 and a 200-day simple moving average of $233.51. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The firm has a market cap of $45.98 billion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 1.54 and a beta of 0.49. Cencora, Inc. has a fifty-two week low of $209.32 and a fifty-two week high of $253.27.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.55 per share. The ex-dividend date was Friday, November 15th. This represents a $2.20 annualized dividend and a yield of 0.92%. This is a boost from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio (DPR) is currently 29.29%.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 50,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $243.97, for a total value of $12,198,500.00. Following the completion of the sale, the chairman now directly owns 326,557 shares of the company’s stock, valued at approximately $79,670,111.29. This represents a 13.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Silvana Battaglia sold 1,678 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were 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. This represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,696 shares of company stock valued at $22,862,734 over the last three months. Company insiders own 15.80% of the company’s stock.

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.