CIBC Private Wealth Group LLC Sells 8,352 Shares of Cencora, Inc. (NYSE:COR)

CIBC Private Wealth Group LLC lessened its holdings in shares of Cencora, Inc. (NYSE:COR) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 308,718 shares of the company’s stock after selling 8,352 shares during the period. CIBC Private Wealth Group LLC owned 0.16% of Cencora worth $73,422,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JFS Wealth Advisors LLC boosted its stake in Cencora by 63.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after acquiring an additional 46 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Cencora during the fourth quarter valued at approximately $30,000. Householder Group Estate & Retirement Specialist LLC lifted its holdings in shares of Cencora by 85.2% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock valued at $33,000 after purchasing an additional 69 shares during the last quarter. Kentucky Trust Co bought a new stake in shares of Cencora in the 4th quarter worth approximately $33,000. Finally, WASHINGTON TRUST Co grew its stake in shares of Cencora by 37.7% in the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock worth $38,000 after buying an additional 46 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at Cencora

In related news, CAO Lazarus Krikorian sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $260.06, for a total transaction of $520,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,154 shares in the company, valued at approximately $5,241,249.24. The trade was a 9.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Silvana Battaglia sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the sale, the executive vice president now owns 15,374 shares in the company, valued at approximately $3,724,197.76. The trade was a 24.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,675 shares of company stock worth $8,034,778 in the last 90 days. 10.80% of the stock is currently owned by insiders.

Cencora Stock Performance

COR stock opened at $275.16 on Monday. 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 1 year low of $214.77 and a 1 year high of $275.57. The company has a market cap of $53.36 billion, a P/E ratio of 39.14, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51. The stock’s fifty day moving average price is $253.81 and its 200-day moving average price is $241.24.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. On average, equities analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 annualized dividend and a yield of 0.80%. Cencora’s payout ratio is presently 31.29%.

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.