Cencora, Inc. (NYSE:COR) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC decreased its position in shares of Cencora, Inc. (NYSE:COR) by 14.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 927 shares of the company’s stock after selling 158 shares during the quarter. Fisher Asset Management LLC’s holdings in Cencora were worth $209,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of COR. B. Riley Wealth Advisors Inc. purchased a new position in shares of Cencora during the 1st quarter worth $411,000. Cetera Advisors LLC acquired a new stake in Cencora in the 1st quarter worth about $2,091,000. EverSource Wealth Advisors LLC purchased a new stake in Cencora in the 1st quarter valued at about $325,000. GAMMA Investing LLC increased its stake in shares of Cencora by 35.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,762 shares of the company’s stock valued at $622,000 after acquiring an additional 723 shares during the last quarter. Finally, DNB Asset Management AS lifted its holdings in shares of Cencora by 13.4% during the 2nd quarter. DNB Asset Management AS now owns 29,007 shares of the company’s stock worth $6,535,000 after acquiring an additional 3,432 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Stock Performance

Cencora stock opened at $251.55 on Monday. Cencora, Inc. has a 12-month low of $195.83 and a 12-month high of $253.27. 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 company has a market capitalization of $49.57 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 1.67 and a beta of 0.44. The firm’s fifty day moving average price is $234.91 and its 200 day moving average price is $232.61.

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.87%. This is a positive change from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, November 15th. Cencora’s payout ratio is presently 29.29%.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 50,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the transaction, the chairman now directly owns 326,557 shares in the company, valued at $79,670,111.29. This represents a 13.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 93,018 shares of company stock worth $22,478,942. 15.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

COR has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Barclays upped their price objective on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Leerink Partners reduced their target price on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. UBS Group upped their price target on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their price objective on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.20.

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.