Cencora, Inc. (NYSE:COR) Shares Sold by Fmr LLC

Fmr LLC trimmed its holdings in Cencora, Inc. (NYSE:COR) by 21.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,103,921 shares of the company’s stock after selling 1,089,917 shares during the period. Fmr LLC owned 2.08% of Cencora worth $923,710,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of COR. Boston Partners acquired a new position in Cencora in the 1st quarter valued at $1,001,269,000. Pacer Advisors Inc. increased its stake in Cencora by 6,855.3% in the third quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after purchasing an additional 2,035,679 shares during the last quarter. Legal & General Group Plc lifted its position in Cencora by 3.7% during the second quarter. Legal & General Group Plc now owns 1,875,445 shares of the company’s stock worth $422,538,000 after buying an additional 67,287 shares during the period. Swedbank AB boosted its stake in Cencora by 2.3% in the 3rd quarter. Swedbank AB now owns 1,394,449 shares of the company’s stock worth $313,863,000 after buying an additional 31,104 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Cencora by 10.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,262,882 shares of the company’s stock valued at $284,544,000 after buying an additional 119,927 shares during the period. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Performance

Shares of NYSE:COR opened at $249.70 on Thursday. The company has a market cap of $49.20 billion, a P/E ratio of 33.25, a PEG ratio of 1.63 and a beta of 0.44. Cencora, Inc. has a one year low of $195.83 and a one year high of $251.56. The business’s 50-day simple moving average is $233.56 and its 200 day simple moving average is $232.01. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.55 per share. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Friday, November 15th. Cencora’s payout ratio is presently 29.29%.

Analyst Ratings Changes

Several research firms recently issued reports on COR. Barclays raised their target price on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Leerink Partners reduced their target price on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Bank of America restated a “neutral” rating and set a $245.00 price target (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. boosted their target price on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $271.20.

Insider Transactions at Cencora

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 transaction of $12,198,500.00. Following the sale, the chairman now owns 326,557 shares of the company’s stock, valued at $79,670,111.29. The trade was a 13.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 93,018 shares of company stock valued at $22,478,942. Corporate insiders own 15.80% of the company’s stock.

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.