iA Global Asset Management Inc. Sells 877 Shares of Cencora, Inc. (NYSE:COR)

iA Global Asset Management Inc. decreased its position in Cencora, Inc. (NYSE:COR) by 12.4% during the 4th quarter, Holdings Channel reports. The firm owned 6,210 shares of the company’s stock after selling 877 shares during the quarter. iA Global Asset Management Inc.’s holdings in Cencora were worth $1,395,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in COR. Raymond James Financial Inc. bought a new stake in shares of Cencora in the 4th quarter worth about $322,460,000. Wellington Management Group LLP lifted its position in Cencora by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock worth $1,168,927,000 after buying an additional 338,452 shares in the last quarter. Amundi lifted its position in Cencora by 30.8% during the 4th quarter. Amundi now owns 1,338,710 shares of the company’s stock worth $318,385,000 after buying an additional 314,846 shares in the last quarter. Nordea Investment Management AB lifted its position in Cencora by 40.2% during the 4th quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock worth $243,173,000 after buying an additional 308,773 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in Cencora by 21.7% during the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock worth $368,771,000 after buying an additional 292,600 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

Insider Activity at Cencora

In related news, CAO Lazarus Krikorian sold 2,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $260.06, for a total value of $520,120.00. Following the sale, the chief accounting officer now directly owns 20,154 shares in the company, valued at $5,241,249.24. This trade represents a 9.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Silvana Battaglia sold 5,000 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $242.24, for a total value of $1,211,200.00. Following the sale, the executive vice president now directly owns 15,374 shares of the company’s stock, valued at approximately $3,724,197.76. The trade was a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,970 shares of company stock worth $2,998,670 in the last ninety days. Company insiders own 10.80% of the company’s stock.

Cencora Stock Performance

Shares of NYSE:COR opened at $266.91 on Friday. The company has a market capitalization of $51.76 billion, a price-to-earnings ratio of 37.97, a P/E/G ratio of 1.31 and a beta of 0.51. The firm’s 50 day simple moving average is $250.62 and its 200 day simple moving average is $240.06. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $271.08.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. As a group, sell-side analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.82%. Cencora’s dividend payout ratio is 31.29%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on COR. JPMorgan Chase & Co. upped their price target on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Evercore ISI upped their price target on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Mizuho began coverage on shares of Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target on the stock. StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Wells Fargo & Company upped their target price on shares of Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $280.20.

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.