CIBC Private Wealth Group LLC Cuts Stock Position in Cencora, Inc. (NYSE:COR)

CIBC Private Wealth Group LLC cut its stake in Cencora, Inc. (NYSE:COR - Free Report) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 308,718 shares of the company's stock after selling 8,352 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.16% of Cencora worth $73,422,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. State Street Corp grew its position in shares of Cencora by 3.8% during the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company's stock valued at $1,810,970,000 after acquiring an additional 291,867 shares during the period. Wellington Management Group LLP grew its holdings in Cencora by 7.0% in the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company's stock valued at $1,168,927,000 after purchasing an additional 338,452 shares during the period. Boston Partners increased its position in shares of Cencora by 2.6% in the fourth quarter. Boston Partners now owns 5,007,100 shares of the company's stock valued at $1,128,058,000 after buying an additional 125,611 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Cencora by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company's stock worth $941,183,000 after buying an additional 189,054 shares during the period. Finally, Pacer Advisors Inc. grew its stake in Cencora by 6.7% in the 4th quarter. Pacer Advisors Inc. now owns 2,204,242 shares of the company's stock valued at $495,249,000 after acquiring an additional 138,868 shares during the period. 97.52% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at Cencora

In related news, EVP Elizabeth S. Campbell sold 4,127 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the completion of the sale, the executive vice president now directly owns 14,665 shares of the company's stock, valued at approximately $3,934,326.20. This trade represents a 21.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Steven H. Collis sold 14,578 shares of the business's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the completion of the sale, the chairman now owns 317,913 shares in the company, valued at approximately $85,680,732.63. This trade represents a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,675 shares of company stock worth $8,034,778 in the last 90 days. Insiders own 10.80% of the company's stock.

Cencora Price Performance

Shares of COR stock traded down $10.07 during trading hours on Friday, reaching $279.29. The company had a trading volume of 4,404,535 shares, compared to its average volume of 1,469,415. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $296.65. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. The company has a market capitalization of $54.16 billion, a price-to-earnings ratio of 39.73, a PEG ratio of 1.31 and a beta of 0.51. The stock has a fifty day moving average of $257.28 and a 200-day moving average of $242.65.

Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. On average, equities analysts anticipate 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. Stockholders of record on Friday, February 14th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 0.79%. Cencora's dividend payout ratio (DPR) is 31.29%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on COR. Evercore ISI upped their price objective on shares of Cencora from $270.00 to $280.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Wells Fargo & Company upped their price target on shares of Cencora from $251.00 to $274.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. JPMorgan Chase & Co. lifted their price objective on Cencora from $289.00 to $301.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Finally, StockNews.com raised Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Cencora presently has an average rating of "Moderate Buy" and a consensus target price of $280.20.

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.