Cencora, Inc. (NYSE:COR) Position Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 3.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,021,889 shares of the company's stock after selling 37,567 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.53% of Cencora worth $229,598,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ledyard National Bank lifted its position in shares of Cencora by 64.2% during the fourth quarter. Ledyard National Bank now owns 7,822 shares of the company's stock worth $1,757,000 after purchasing an additional 3,058 shares in the last quarter. Trilogy Capital Inc. increased its stake in Cencora by 5.1% during the 4th quarter. Trilogy Capital Inc. now owns 1,038 shares of the company's stock worth $233,000 after buying an additional 50 shares during the period. Choreo LLC lifted its holdings in Cencora by 1.6% in the 4th quarter. Choreo LLC now owns 4,841 shares of the company's stock worth $1,088,000 after buying an additional 76 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Cencora by 15.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,037 shares of the company's stock valued at $7,233,000 after buying an additional 4,283 shares during the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new position in Cencora in the 4th quarter valued at about $205,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Analysts Set New Price Targets

COR has been the topic of several recent analyst reports. Robert W. Baird boosted their price target on Cencora from $287.00 to $292.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Wells Fargo & Company upped their target price on Cencora from $237.00 to $251.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 29th. Mizuho initiated coverage on Cencora in a research note on Wednesday, December 4th. They set an "outperform" rating and a $280.00 target price for the company. Evercore ISI upped their price target on shares of Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Finally, Barclays increased their price objective on shares of Cencora from $263.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Two equities research 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 currently has an average rating of "Moderate Buy" and a consensus price target of $277.90.

Cencora Stock Performance

Shares of NYSE:COR traded up $0.48 on Tuesday, reaching $246.86. 1,076,644 shares of the company's stock were exchanged, compared to its average volume of 1,476,687. The business's 50-day moving average is $238.86 and its two-hundred day moving average is $237.03. The company has a quick ratio of 0.53, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $262.26. The firm has a market capitalization of $47.71 billion, a price-to-earnings ratio of 35.11, a PEG ratio of 1.49 and a beta of 0.49.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share 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, equities research analysts forecast that Cencora, Inc. will post 15.36 EPS for the current year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $0.55 per share. The ex-dividend date is Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 0.89%. Cencora's dividend payout ratio is currently 31.29%.

Insider Buying and Selling

In related news, EVP Silvana Battaglia sold 1,678 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $228.72, for a total value of $383,792.16. Following the completion of the transaction, the executive vice president now directly owns 20,329 shares of the company's stock, valued at $4,649,648.88. This represents a 7.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 sale, the chairman now directly owns 326,557 shares in the company, valued at $79,670,111.29. The trade was a 13.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,187 shares of company stock worth $17,790,912 in the last three months. 10.80% of the stock is owned by insiders.

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.