Cencora, Inc. (NYSE:COR) Position Reduced by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC decreased its position in shares of Cencora, Inc. (NYSE:COR) by 4.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,075 shares of the company’s stock after selling 249 shares during the period. Sawgrass Asset Management LLC’s holdings in Cencora were worth $1,142,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lake Street Advisors Group LLC grew its holdings in shares of Cencora by 1.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock valued at $769,000 after acquiring an additional 43 shares in the last quarter. Financial Advocates Investment Management grew its holdings in shares of Cencora by 4.7% during the 2nd quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock valued at $220,000 after acquiring an additional 44 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Cencora by 1.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock valued at $1,001,000 after acquiring an additional 46 shares in the last quarter. Prime Capital Investment Advisors LLC grew its holdings in shares of Cencora by 1.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock valued at $848,000 after acquiring an additional 46 shares in the last quarter. Finally, Checchi Capital Advisers LLC grew its holdings in shares of Cencora by 2.2% during the 2nd quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock valued at $499,000 after acquiring an additional 48 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

Insiders Place Their Bets

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the transaction, the chairman now owns 285,088 shares of the company’s stock, valued at $67,223,750.40. The trade was a 7.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 15.80% of the company’s stock.

Cencora Stock Down 1.1 %

Cencora stock opened at $240.24 on Friday. The firm has a market cap of $47.34 billion, a price-to-earnings ratio of 31.99, a P/E/G ratio of 1.66 and a beta of 0.44. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. Cencora, Inc. has a fifty-two week low of $194.23 and a fifty-two week high of $251.56. The firm has a fifty day moving average price of $232.62 and a two-hundred day moving average price of $231.03.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.55 per share. This is a positive change from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.92%. Cencora’s payout ratio is currently 29.29%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Robert W. Baird boosted their price target on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Bank of America reaffirmed a “neutral” rating and issued a $245.00 price objective (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Wells Fargo & Company lifted their price objective on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, UBS Group lifted their price objective on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Cencora has an average rating of “Moderate Buy” and a consensus target price of $271.20.

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.