Bleakley Financial Group LLC Decreases Holdings in Cencora, Inc. (NYSE:COR)

Bleakley Financial Group LLC cut its holdings in shares of Cencora, Inc. (NYSE:COR) by 12.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,879 shares of the company’s stock after selling 1,349 shares during the period. Bleakley Financial Group LLC’s holdings in Cencora were worth $2,220,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Insight Wealth Strategies LLC raised its stake in Cencora by 124.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 20,249 shares of the company’s stock valued at $4,549,000 after buying an additional 11,232 shares during the last quarter. Cerity Partners LLC raised its position in shares of Cencora by 10.1% in the 3rd quarter. Cerity Partners LLC now owns 39,457 shares of the company’s stock valued at $8,881,000 after purchasing an additional 3,610 shares during the last quarter. Sylvest Advisors LLC purchased a new stake in Cencora during the 4th quarter worth approximately $1,105,000. Thurston Springer Miller Herd & Titak Inc. grew its position in Cencora by 71.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,048 shares of the company’s stock worth $1,583,000 after purchasing an additional 2,928 shares during the last quarter. Finally, Portfolio Design Labs LLC acquired a new position in Cencora during the 3rd quarter valued at approximately $1,404,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Trading Up 0.7 %

Shares of Cencora stock opened at $247.94 on Friday. The firm has a 50-day simple moving average of $239.01 and a two-hundred day simple moving average of $236.57. 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 fifty-two week low of $214.77 and a fifty-two week high of $262.26. The company has a market cap of $47.92 billion, a P/E ratio of 33.01, a price-to-earnings-growth ratio of 1.59 and a beta of 0.49.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.51% and a return on equity of 266.62%. As a group, equities analysts predict that Cencora, Inc. will post 15.32 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, February 14th. Cencora’s dividend payout ratio is presently 29.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Mizuho assumed coverage on shares of Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective on the stock. Barclays boosted their price target on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Robert W. Baird lifted their target price on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company upped their target price on Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and an average price target of $277.90.

Insider Buying and Selling

In other news, EVP Silvana Battaglia sold 1,678 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $4,649,648.88. This represents a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now directly owns 306,752 shares in the company, valued at approximately $74,283,064.32. This represents a 6.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,187 shares of company stock worth $17,790,912. 10.80% of the stock is owned by corporate insiders.

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.