Walgreens Boots Alliance Inc. Sells 4,438,171 Shares of Cencora, Inc. (NYSE:COR)

Walgreens Boots Alliance Inc. trimmed its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 18.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,980,000 shares of the company's stock after selling 4,438,171 shares during the period. Cencora makes up approximately 92.9% of Walgreens Boots Alliance Inc.'s investment portfolio, making the stock its largest holding. Walgreens Boots Alliance Inc. owned 10.14% of Cencora worth $4,497,098,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of COR. New Millennium Group LLC bought a new position in Cencora during the 2nd quarter valued at $26,000. MFA Wealth Advisors LLC acquired a new position in Cencora during the second quarter worth about $30,000. Concord Wealth Partners acquired a new position in Cencora during the third quarter worth about $30,000. SYSTM Wealth Solutions LLC bought a new stake in Cencora in the second quarter worth about $36,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Cencora in the 3rd quarter valued at about $41,000. 97.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Cencora Stock Down 0.4 %

COR stock traded down $0.90 during mid-day trading on Friday, hitting $243.41. The stock had a trading volume of 1,179,550 shares, compared to its average volume of 1,389,864. The stock has a market capitalization of $47.05 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 1.66 and a beta of 0.45. The company has a fifty day moving average of $236.75 and a 200 day moving average of $233.19. Cencora, Inc. has a 1-year low of $195.83 and a 1-year high of $253.27. 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 firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.90%. This is an increase from Cencora's previous quarterly dividend of $0.51. The ex-dividend date was Friday, November 15th. Cencora's payout ratio is currently 29.29%.

Wall Street Analyst Weigh In

COR has been the topic of a number of research reports. Bank of America reiterated a "neutral" rating and issued a $245.00 target price (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Evercore ISI increased their price objective on Cencora from $250.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. StockNews.com cut Cencora from a "strong-buy" rating to a "buy" rating in a report on Friday, September 20th. UBS Group upped their target price on Cencora from $275.00 to $285.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their price target on Cencora from $280.00 to $287.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $276.80.

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.