Cencora, Inc. (NYSE:COR) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its stake in shares of Cencora, Inc. (NYSE:COR) by 2.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 27,845 shares of the company’s stock after selling 607 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Cencora were worth $6,267,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of COR. New Millennium Group LLC purchased a new stake in Cencora during the second quarter worth $26,000. TCTC Holdings LLC acquired a new position in shares of Cencora in the first quarter worth about $29,000. TFO Wealth Partners LLC purchased a new stake in shares of Cencora during the 1st quarter worth about $30,000. MFA Wealth Advisors LLC acquired a new stake in shares of Cencora during the 2nd quarter valued at about $30,000. Finally, Concord Wealth Partners purchased a new position in shares of Cencora in the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the sale, the chairman now owns 285,088 shares of the company’s stock, valued at $67,223,750.40. This represents a 7.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 15.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on COR. Leerink Partners cut their price objective on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Barclays boosted their price target on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Wells Fargo & Company increased their price objective on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. StockNews.com cut shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Finally, UBS Group raised their price target 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 investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Cencora presently has an average rating of “Moderate Buy” and a consensus target price of $271.20.

Cencora Trading Down 2.6 %

COR opened at $243.41 on Friday. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The company’s 50 day simple moving average is $232.38 and its two-hundred day simple moving average is $231.00. The firm has a market capitalization of $47.96 billion, a price-to-earnings ratio of 32.41, a price-to-earnings-growth ratio of 1.66 and a beta of 0.44. Cencora, Inc. has a 1-year low of $191.11 and a 1-year high of $251.56.

Cencora Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.90%. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is 27.16%.

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.