Corebridge Financial Inc. Sells 1,835 Shares of Cencora, Inc. (NYSE:COR)

Corebridge Financial Inc. trimmed its stake in shares of Cencora, Inc. (NYSE:COR) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,369 shares of the company’s stock after selling 1,835 shares during the quarter. Corebridge Financial Inc.’s holdings in Cencora were worth $9,744,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Cencora

In related news, Chairman Steven H. Collis sold 14,578 shares of Cencora stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the sale, the chairman now directly owns 317,913 shares of the company’s stock, valued at approximately $85,680,732.63. The trade was a 4.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the completion of the sale, the executive vice president now owns 14,665 shares in the company, valued at $3,934,326.20. This represents a 21.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,675 shares of company stock worth $8,034,778 over the last 90 days. Insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

COR has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price objective on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, January 24th. 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 lifted their price objective on shares of Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Evercore ISI increased their target price on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Mizuho assumed coverage on shares of Cencora in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $280.20.

Cencora Stock Performance

Shares of Cencora stock opened at $271.32 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. The company has a market cap of $52.61 billion, a PE ratio of 38.59, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51. The company has a 50 day moving average of $252.47 and a 200-day moving average of $240.68. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $271.86.

Cencora (NYSE:COR) last released its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share 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%. As a group, equities research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s dividend payout ratio (DPR) 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.