Lord Abbett & CO. LLC Cuts Stock Position in Cencora, Inc. (NYSE:COR)

Lord Abbett & CO. LLC reduced its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 117,860 shares of the company's stock after selling 1,320 shares during the quarter. Lord Abbett & CO. LLC owned about 0.06% of Cencora worth $26,481,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in COR. Whittier Trust Co. boosted its stake in Cencora by 0.6% during the fourth quarter. Whittier Trust Co. now owns 7,856 shares of the company's stock worth $1,765,000 after acquiring an additional 44 shares in the last quarter. Shepherd Financial Partners LLC raised its holdings in shares of Cencora by 0.9% during the fourth quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company's stock valued at $1,223,000 after purchasing an additional 46 shares during the period. WASHINGTON TRUST Co boosted its position in shares of Cencora by 37.7% during the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company's stock worth $38,000 after purchasing an additional 46 shares in the last quarter. JFS Wealth Advisors LLC grew its stake in shares of Cencora by 63.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company's stock valued at $27,000 after buying an additional 46 shares during the period. Finally, Cullen Frost Bankers Inc. increased its position in Cencora by 1.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 4,463 shares of the company's stock valued at $1,003,000 after buying an additional 47 shares in the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Cencora from $289.00 to $301.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Morgan Stanley set a $288.00 price objective on shares of Cencora in a report on Tuesday, April 15th. StockNews.com upgraded shares of Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Wells Fargo & Company upped their target price on shares of Cencora from $251.00 to $274.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Finally, Evercore ISI boosted their price objective on Cencora from $270.00 to $280.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, Cencora presently has an average rating of "Moderate Buy" and an average target price of $290.00.

Cencora Stock Performance

Shares of COR traded down $2.21 during trading hours on Thursday, hitting $290.46. The company's stock had a trading volume of 1,103,966 shares, compared to its average volume of 1,521,911. The company has a market cap of $56.32 billion, a price-to-earnings ratio of 41.32, a PEG ratio of 1.31 and a beta of 0.55. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The business has a 50 day simple moving average of $270.90 and a two-hundred day simple moving average of $250.57. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $296.65.

Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. On average, equities analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Friday, February 14th. Cencora's payout ratio is 31.29%.

Insider Activity

In related news, Chairman Steven H. Collis sold 14,579 shares of Cencora stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the completion of the sale, the chairman now owns 315,913 shares of the company's stock, valued at approximately $89,027,442.53. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Silvana Battaglia sold 5,000 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the completion of the sale, the executive vice president now directly owns 15,374 shares in the company, valued at approximately $3,724,197.76. The trade was a 24.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,223 shares of company stock worth $13,580,967. 10.80% of the stock is owned by company insiders.

Cencora 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.