Smith Group Asset Management LLC Lowers Holdings in Cencora, Inc. (NYSE:COR)

Smith Group Asset Management LLC cut its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 47.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,480 shares of the company's stock after selling 1,350 shares during the quarter. Smith Group Asset Management LLC's holdings in Cencora were worth $333,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Insight Wealth Strategies LLC grew its stake in shares of Cencora by 124.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 20,249 shares of the company's stock valued at $4,549,000 after acquiring an additional 11,232 shares during the period. Cerity Partners LLC grew its stake in shares of Cencora by 10.1% during the 3rd quarter. Cerity Partners LLC now owns 39,457 shares of the company's stock valued at $8,881,000 after acquiring an additional 3,610 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Cencora by 71.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,048 shares of the company's stock valued at $1,583,000 after acquiring an additional 2,928 shares during the period. Portfolio Design Labs LLC bought a new position in shares of Cencora during the 3rd quarter valued at approximately $1,404,000. Finally, Nordea Investment Management AB grew its stake in shares of 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 period. 97.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 50,000 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the completion of the transaction, the chairman now owns 326,557 shares in the company, valued at $79,670,111.29. The trade was a 13.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Silvana Battaglia sold 1,678 shares of the business's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $228.72, for a total value of $383,792.16. Following the transaction, the executive vice president now owns 20,329 shares of the company's stock, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,187 shares of company stock valued at $17,790,912. Company insiders own 15.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. UBS Group boosted their price target on Cencora from $275.00 to $285.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Wells Fargo & Company boosted their price target on Cencora from $237.00 to $251.00 and gave the stock an "equal weight" rating in a report on Wednesday. Evercore ISI boosted their price target on Cencora from $250.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Mizuho assumed coverage on Cencora in a report on Wednesday, December 4th. They issued an "outperform" rating and a $280.00 price target on the stock. Finally, Leerink Partners lowered their price target on Cencora from $277.00 to $275.00 and set an "outperform" rating on the stock in a report on Monday, October 7th. Two investment 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $278.40.

Cencora Trading Up 1.7 %

NYSE:COR traded up $4.36 during midday trading on Thursday, hitting $260.30. 181,804 shares of the company traded hands, compared to its average volume of 1,204,247. The firm has a market capitalization of $50.31 billion, a P/E ratio of 34.66, a P/E/G ratio of 1.54 and a beta of 0.49. The firm's fifty day moving average is $238.30 and its 200-day moving average is $235.44. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $261.25. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Friday, November 15th. This is a positive change from Cencora's previous quarterly dividend of $0.51. Cencora's dividend payout ratio (DPR) is 29.29%.

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.