First Foundation Advisors Cuts Stock Position in Cencora, Inc. (NYSE:COR)

First Foundation Advisors reduced its position in Cencora, Inc. (NYSE:COR - Free Report) by 8.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 72,733 shares of the company's stock after selling 6,659 shares during the period. First Foundation Advisors' holdings in Cencora were worth $16,342,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Hickory Asset Management Inc. acquired a new stake in Cencora in the 4th quarter worth approximately $572,000. Sylvest Advisors LLC purchased a new position in Cencora in the 4th quarter worth $1,105,000. Insight Wealth Strategies LLC increased its holdings in shares of Cencora by 124.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 20,249 shares of the company's stock valued at $4,549,000 after purchasing an additional 11,232 shares during the period. Vontobel Holding Ltd. raised its stake in shares of Cencora by 46.9% in the fourth quarter. Vontobel Holding Ltd. now owns 6,245 shares of the company's stock worth $1,403,000 after purchasing an additional 1,995 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Cencora by 71.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,048 shares of the company's stock valued at $1,583,000 after buying an additional 2,928 shares during the last quarter. Institutional investors own 97.52% of the company's stock.

Insider Activity

In related news, EVP Silvana Battaglia sold 5,000 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was 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 directly owns 15,374 shares in the company, valued at approximately $3,724,197.76. This represents a 24.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Lazarus Krikorian sold 2,000 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $260.06, for a total value of $520,120.00. Following the sale, the chief accounting officer now directly owns 20,154 shares of the company's stock, valued at $5,241,249.24. The trade was a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,675 shares of company stock valued at $8,034,778. 10.80% of the stock is currently owned by insiders.

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Wall Street Analyst Weigh In

COR has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price objective on shares of Cencora from $289.00 to $301.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Evercore ISI lifted their price target on Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. StockNews.com raised shares of Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Wells Fargo & Company upped their price objective 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. Finally, Bank of America lifted their price target on Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Cencora has an average rating of "Moderate Buy" and a consensus target price of $284.20.

Cencora Price Performance

NYSE COR traded down $0.63 during mid-day trading on Tuesday, hitting $283.66. The stock had a trading volume of 344,791 shares, compared to its average volume of 1,703,633. The firm's 50 day moving average is $260.88 and its 200 day moving average is $245.57. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The stock has a market capitalization of $55.01 billion, a price-to-earnings ratio of 40.35, a PEG ratio of 1.31 and a beta of 0.55. Cencora, Inc. has a twelve month low of $214.77 and a twelve month high of $296.65.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, beating analysts' consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. Equities research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Friday, February 14th. Cencora's dividend payout ratio (DPR) is presently 31.29%.

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.