Cypress Capital Group Sells 1,495 Shares of Cencora, Inc. (NYSE:COR)

Cypress Capital Group cut its stake in Cencora, Inc. (NYSE:COR) by 6.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,269 shares of the company’s stock after selling 1,495 shares during the quarter. Cypress Capital Group’s holdings in Cencora were worth $4,562,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Intech Investment Management LLC raised its stake in Cencora by 12.5% in the third quarter. Intech Investment Management LLC now owns 73,012 shares of the company’s stock worth $16,434,000 after buying an additional 8,091 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Cencora by 4.1% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 357,299 shares of the company’s stock worth $80,421,000 after acquiring an additional 14,050 shares during the period. Moran Wealth Management LLC raised its position in shares of Cencora by 4.0% in the 3rd quarter. Moran Wealth Management LLC now owns 76,490 shares of the company’s stock worth $17,216,000 after acquiring an additional 2,976 shares in the last quarter. Portfolio Design Labs LLC purchased a new position in shares of Cencora in the 3rd quarter valued at approximately $1,404,000. Finally, Howe & Rusling Inc. boosted its position in shares of Cencora by 0.3% during the third quarter. Howe & Rusling Inc. now owns 20,162 shares of the company’s stock valued at $4,538,000 after purchasing an additional 66 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on COR shares. Robert W. Baird increased their price objective on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Evercore ISI increased their price target on shares of Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company boosted their price objective on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Finally, UBS Group upped their price target on Cencora from $275.00 to $285.00 and gave the stock 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.com, Cencora currently has an average rating of “Moderate Buy” and a consensus price target of $271.20.

Insider Buying and Selling at Cencora

In related news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the sale, the chairman now owns 285,088 shares in the company, valued at approximately $67,223,750.40. This represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 15.80% of the company’s stock.

Cencora Stock Up 0.9 %

Cencora stock opened at $243.20 on Thursday. The firm has a market cap of $47.92 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 1.60 and a beta of 0.44. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. Cencora, Inc. has a 12 month low of $195.83 and a 12 month high of $251.56. The stock has a fifty day simple moving average of $232.82 and a two-hundred day simple moving average of $231.29.

Cencora Increases Dividend

The firm 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 $0.55 dividend. 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 0.90%. Cencora’s payout ratio is 29.29%.

Cencora 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.