Cencora, Inc. (NYSE:COR) Shares Sold by First Commonwealth Financial Corp PA

First Commonwealth Financial Corp PA cut its stake in Cencora, Inc. (NYSE:COR) by 4.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,665 shares of the company’s stock after selling 229 shares during the period. First Commonwealth Financial Corp PA’s holdings in Cencora were worth $898,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in COR. Price T Rowe Associates Inc. MD grew its position in Cencora by 145.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,257,332 shares of the company’s stock valued at $1,642,302,000 after buying an additional 6,086,040 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Cencora by 7,989.0% in the 1st quarter. Wellington Management Group LLP now owns 1,856,026 shares of the company’s stock valued at $297,168,000 after acquiring an additional 1,833,081 shares during the last quarter. Norges Bank acquired a new stake in Cencora in the 4th quarter valued at about $261,294,000. Envestnet Asset Management Inc. lifted its stake in Cencora by 156.2% during the first quarter. Envestnet Asset Management Inc. now owns 2,509,370 shares of the company’s stock valued at $83,116,000 after buying an additional 1,530,083 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Cencora by 7.4% during the first quarter. Vanguard Group Inc. now owns 18,411,527 shares of the company’s stock valued at $2,848,446,000 after buying an additional 1,269,147 shares in the last quarter. 93.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cencora news, CEO Steven H. Collis sold 25,000 shares of Cencora stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $185.08, for a total transaction of $4,627,000.00. Following the completion of the transaction, the chief executive officer now directly owns 257,967 shares of the company’s stock, valued at $47,744,532.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Cencora news, CEO Steven H. Collis sold 25,000 shares of Cencora stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $185.08, for a total transaction of $4,627,000.00. Following the completion of the transaction, the chief executive officer now directly owns 257,967 shares of the company’s stock, valued at $47,744,532.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gina Clark sold 10,695 shares of Cencora stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $187.00, for a total value of $1,999,965.00. Following the transaction, the executive vice president now directly owns 16,038 shares of the company’s stock, valued at $2,999,106. The disclosure for this sale can be found here. Insiders sold a total of 1,343,672 shares of company stock valued at $262,243,280 over the last ninety days. 1.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on COR shares. Morgan Stanley increased their price target on shares of Cencora from $176.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 3rd. TheStreet upgraded Cencora from a “c” rating to a “b” rating in a report on Monday, October 9th. TD Cowen increased their price objective on Cencora from $205.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Evercore ISI increased their price objective on Cencora from $210.00 to $225.00 in a report on Wednesday, October 11th. Finally, StockNews.com started coverage on Cencora in a report on Sunday, October 1st. They issued a “strong-buy” rating on the stock. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $196.08.

Cencora Stock Performance

Shares of Cencora stock traded down $1.91 during midday trading on Friday, hitting $195.00. The company had a trading volume of 1,261,203 shares, compared to its average volume of 1,417,938. The business’s 50 day simple moving average is $186.83 and its two-hundred day simple moving average is $181.24. The stock has a market cap of $39.43 billion, a PE ratio of 22.86, a P/E/G ratio of 1.68 and a beta of 0.53. The company has a debt-to-equity ratio of 6.22, a current ratio of 0.88 and a quick ratio of 0.52. Cencora, Inc. has a 1-year low of $147.48 and a 1-year high of $199.66.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 27th. Investors of record on Monday, November 13th will be given a $0.51 dividend. This is a boost from Cencora’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Friday, November 10th. Cencora’s dividend payout ratio (DPR) is 23.92%.

Cencora Profile

Cencora, Inc sources and distributes pharmaceutical products. Its 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.