Sumitomo Mitsui Trust Group Inc. Reduces Stock Position in Cencora, Inc. (NYSE:COR)

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Cencora, Inc. (NYSE:COR) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,021,889 shares of the company’s stock after selling 37,567 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Cencora were worth $229,598,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Concord Wealth Partners purchased a new stake in shares of Cencora during the 3rd quarter valued at about $30,000. Householder Group Estate & Retirement Specialist LLC boosted its holdings in shares of Cencora by 85.2% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock worth $33,000 after buying an additional 69 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Cencora in the third quarter worth approximately $41,000. Modus Advisors LLC purchased a new position in shares of Cencora in the fourth quarter worth approximately $54,000. Finally, Carolina Wealth Advisors LLC boosted its holdings in shares of Cencora by 366.7% in the third quarter. Carolina Wealth Advisors LLC now owns 266 shares of the company’s stock worth $60,000 after buying an additional 209 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Activity

In related news, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $228.72, for a total value of $383,792.16. Following the completion of the transaction, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This trade represents a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Steven H. Collis sold 50,000 shares of the firm’s 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 completion of the transaction, the chairman now directly owns 326,557 shares of the company’s stock, valued at approximately $79,670,111.29. This trade represents a 13.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,187 shares of company stock worth $17,790,912 over the last quarter. Insiders own 10.80% of the company’s stock.

Cencora Trading Up 0.7 %

Cencora stock opened at $247.94 on Friday. The stock has a market cap of $47.92 billion, a P/E ratio of 33.01, a PEG ratio of 1.59 and a beta of 0.49. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $262.26. The firm’s 50 day moving average price is $239.01 and its 200-day moving average price is $236.57.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.51% and a return on equity of 266.62%. On average, equities analysts predict that Cencora, Inc. will post 15.32 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Friday, February 14th. Cencora’s payout ratio is currently 29.29%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on COR shares. Robert W. Baird raised their price objective on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. UBS Group raised their price objective on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Mizuho assumed coverage on shares of Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective on the stock. Finally, Wells Fargo & Company raised their target price on shares of Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.90.

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.