Dakota Wealth Management Sells 6,650 Shares of Cencora, Inc. (NYSE:COR)

Dakota Wealth Management trimmed its position in Cencora, Inc. (NYSE:COR) by 14.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 40,169 shares of the company’s stock after selling 6,650 shares during the quarter. Dakota Wealth Management’s holdings in Cencora were worth $9,025,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Concord Wealth Partners bought a new position in Cencora in the 3rd quarter valued at $30,000. Householder Group Estate & Retirement Specialist LLC boosted its position in Cencora by 85.2% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock valued at $33,000 after buying an additional 69 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Cencora in the 3rd quarter valued at $41,000. Modus Advisors LLC bought a new position in shares of Cencora in the 4th quarter worth $54,000. Finally, Carolina Wealth Advisors LLC boosted its position in shares of Cencora by 366.7% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 266 shares of the company’s stock worth $60,000 after purchasing an additional 209 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors.

Insider Activity at Cencora

In related news, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $228.72, for a total value of $383,792.16. Following the sale, the executive vice president now owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. The trade was a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 50,000 shares of Cencora stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $243.97, for a total value of $12,198,500.00. Following the completion of the sale, the chairman now directly owns 326,557 shares in the company, valued at approximately $79,670,111.29. This represents a 13.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,187 shares of company stock valued at $17,790,912. 15.80% of the stock is owned by insiders.

Cencora Stock Performance

COR opened at $245.21 on Wednesday. The business’s 50-day moving average price is $237.38 and its two-hundred day moving average price is $234.15. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $253.27. The company has a market capitalization of $47.39 billion, a price-to-earnings ratio of 32.65, a P/E/G ratio of 1.51 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.90%. This is an increase from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is currently 29.29%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on COR shares. Barclays raised their price target on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Leerink Partners reduced their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Evercore ISI raised their price target on Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company dropped their price objective on Cencora from $249.00 to $237.00 and set an “equal weight” rating on the stock in a research note on Friday, December 13th. Finally, UBS Group raised their price objective on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.60.

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.