Pitcairn Co. Sells 3,110 Shares of Cencora, Inc. (NYSE:COR)

Pitcairn Co. trimmed its position in shares of Cencora, Inc. (NYSE:COR) by 14.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,361 shares of the company’s stock after selling 3,110 shares during the period. Pitcairn Co.’s holdings in Cencora were worth $4,133,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of COR. Lake Street Advisors Group LLC lifted its stake in shares of Cencora by 1.3% in the third quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock valued at $769,000 after buying an additional 43 shares during the period. Financial Advocates Investment Management lifted its stake in shares of Cencora by 4.7% in the second quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock valued at $220,000 after buying an additional 44 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Cencora by 1.0% in the third quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock valued at $1,001,000 after buying an additional 46 shares during the period. Prime Capital Investment Advisors LLC lifted its stake in shares of Cencora by 1.2% in the third quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock valued at $848,000 after buying an additional 46 shares during the period. Finally, Checchi Capital Advisers LLC lifted its stake in shares of Cencora by 2.2% in the second quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock valued at $499,000 after buying an additional 48 shares during the period. 97.52% of the stock is currently owned by institutional investors.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total value of $5,208,619.44. Following the transaction, the chairman now directly owns 306,752 shares of the company’s stock, valued at approximately $74,283,064.32. This trade represents a 6.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

COR has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Wells Fargo & Company increased their price target on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Bank of America reissued a “neutral” rating and issued a $245.00 price target (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Robert W. Baird increased their price target on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Leerink Partners dropped their price target on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Cencora currently has an average rating of “Moderate Buy” and an average price target of $271.20.

Cencora Stock Performance

NYSE COR opened at $245.02 on Friday. The firm has a market cap of $48.28 billion, a price-to-earnings ratio of 32.63, a PEG ratio of 1.63 and a beta of 0.44. The company has a 50 day moving average of $233.12 and a 200-day moving average of $231.47. 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 1-year low of $195.83 and a 1-year high of $251.56.

Cencora Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.90%. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio (DPR) is currently 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.