Janney Montgomery Scott LLC Sells 2,988 Shares of Cencora, Inc. (NYSE:COR)

Janney Montgomery Scott LLC cut its holdings in shares of Cencora, Inc. (NYSE:COR) by 7.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,141 shares of the company’s stock after selling 2,988 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Cencora were worth $8,810,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. New Millennium Group LLC bought a new stake in Cencora during the second quarter worth about $26,000. TCTC Holdings LLC bought a new stake in shares of Cencora during the 1st quarter worth approximately $29,000. TFO Wealth Partners LLC acquired a new stake in shares of Cencora in the 1st quarter valued at approximately $30,000. MFA Wealth Advisors LLC bought a new position in shares of Cencora in the second quarter valued at $30,000. Finally, Concord Wealth Partners acquired a new position in Cencora during the third quarter worth $30,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on COR. UBS Group lifted their price objective on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday. Evercore ISI lifted their price target on Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price target on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Barclays raised their price objective on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Robert W. Baird boosted their target price on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $271.20.

Cencora Stock Performance

Shares of NYSE COR opened at $247.76 on Friday. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. The firm has a market cap of $48.82 billion, a price-to-earnings ratio of 32.99, a P/E/G ratio of 1.49 and a beta of 0.44. The stock’s fifty day moving average price is $231.77 and its two-hundred day moving average price is $230.76. Cencora, Inc. has a one year low of $191.11 and a one year high of $250.80.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, November 6th. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.21 by $0.13. The business had revenue of $79.05 billion for the quarter, compared to analyst estimates of $77.68 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. On average, equities analysts forecast that Cencora, Inc. will post 13.64 EPS for the current year.

Cencora Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.55 dividend. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Friday, November 15th. Cencora’s payout ratio is 29.29%.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the transaction, the chairman now directly owns 285,088 shares of the company’s stock, valued at $67,223,750.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 15.80% of the stock is currently owned by company insiders.

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.