Martingale Asset Management L P Sells 14,318 Shares of Cencora, Inc. (NYSE:COR)

Martingale Asset Management L P cut its holdings in shares of Cencora, Inc. (NYSE:COR) by 17.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 68,523 shares of the company’s stock after selling 14,318 shares during the period. Martingale Asset Management L P’s holdings in Cencora were worth $15,423,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COR. Lake Street Advisors Group LLC lifted its holdings in shares of Cencora by 1.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock worth $769,000 after acquiring an additional 43 shares during the period. Financial Advocates Investment Management lifted its holdings in shares of Cencora by 4.7% during the 2nd quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock worth $220,000 after acquiring an additional 44 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of Cencora by 1.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock worth $1,001,000 after acquiring an additional 46 shares during the period. Prime Capital Investment Advisors LLC lifted its holdings in shares of Cencora by 1.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock worth $848,000 after acquiring an additional 46 shares during the period. Finally, Checchi Capital Advisers LLC lifted its stake in Cencora by 2.2% in the 2nd quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock valued at $499,000 after purchasing an additional 48 shares during the last quarter. 97.52% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction 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 completion of the sale, the chairman now directly owns 306,752 shares in the company, valued at approximately $74,283,064.32. This trade represents a 6.55 % 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. Over the last ninety days, insiders sold 93,018 shares of company stock worth $22,478,942. 15.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on COR. Wells Fargo & Company increased their price objective on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Robert W. Baird upped their price target on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Evercore ISI upped their price target on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Leerink Partners decreased 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. Finally, Barclays increased their price objective on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $271.20.

Cencora Trading Up 0.5 %

NYSE:COR opened at $249.69 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. The stock has a market capitalization of $49.20 billion, a price-to-earnings ratio of 33.25, a PEG ratio of 1.63 and a beta of 0.44. The firm has a fifty day simple moving average of $234.44 and a two-hundred day simple moving average of $232.26. Cencora, Inc. has a 12 month low of $195.83 and a 12 month high of $251.56.

Cencora Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.88%. This is a boost from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, November 15th. Cencora’s dividend payout ratio (DPR) is presently 29.29%.

Cencora Company 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.