CIBC Private Wealth Group LLC Sells 8,352 Shares of Cencora, Inc. (NYSE:COR)

CIBC Private Wealth Group LLC lowered its stake in shares of Cencora, Inc. (NYSE:COR) by 2.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 308,718 shares of the company’s stock after selling 8,352 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Cencora were worth $73,422,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of COR. JFS Wealth Advisors LLC boosted its stake in Cencora by 63.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after buying an additional 46 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Cencora during the 4th quarter valued at approximately $30,000. Kentucky Trust Co purchased a new position in shares of Cencora in the fourth quarter valued at $33,000. Householder Group Estate & Retirement Specialist LLC increased its position in Cencora by 85.2% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock worth $33,000 after purchasing an additional 69 shares during the last quarter. Finally, WASHINGTON TRUST Co raised its stake in 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 purchasing an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on COR. Evercore ISI lifted their price objective on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Mizuho started coverage on Cencora in a research note on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective on the stock. Wells Fargo & Company upped their price objective on 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 Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. increased their price target on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $280.20.

Cencora Stock Performance

Shares of Cencora stock opened at $275.16 on Monday. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $275.57. The company has a market capitalization of $53.36 billion, a PE ratio of 39.14, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51. The stock’s fifty day moving average is $253.81 and its two-hundred day moving average is $241.24. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40.

Cencora (NYSE:COR) last posted 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 0.46% and a return on equity of 328.62%. As a group, analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.80%. Cencora’s payout ratio is 31.29%.

Insider Buying and Selling

In other Cencora news, CAO Lazarus Krikorian sold 2,000 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $260.06, for a total value of $520,120.00. Following the completion of the sale, the chief accounting officer now directly owns 20,154 shares in the company, valued at approximately $5,241,249.24. This represents a 9.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Silvana Battaglia sold 5,000 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the transaction, the executive vice president now owns 15,374 shares in the company, valued at approximately $3,724,197.76. This represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,675 shares of company stock valued at $8,034,778 over the last quarter. 10.80% of the stock is owned by corporate insiders.

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.