Fortem Financial Group LLC Buys 109 Shares of Cencora, Inc. (NYSE:COR)

Fortem Financial Group LLC raised its stake in Cencora, Inc. (NYSE:COR) by 2.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,201 shares of the company’s stock after buying an additional 109 shares during the period. Fortem Financial Group LLC’s holdings in Cencora were worth $1,169,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Arizona State Retirement System increased its holdings in Cencora by 6.3% during the 2nd quarter. Arizona State Retirement System now owns 52,047 shares of the company’s stock worth $11,726,000 after purchasing an additional 3,089 shares during the period. Private Advisor Group LLC lifted its holdings in Cencora by 11.5% during the second quarter. Private Advisor Group LLC now owns 6,785 shares of the company’s stock worth $1,529,000 after buying an additional 700 shares during the period. Candriam S.C.A. grew its stake in Cencora by 21.9% in the second quarter. Candriam S.C.A. now owns 7,897 shares of the company’s stock valued at $1,779,000 after purchasing an additional 1,420 shares during the last quarter. Savant Capital LLC raised its holdings in Cencora by 2.1% in the second quarter. Savant Capital LLC now owns 6,511 shares of the company’s stock worth $1,467,000 after purchasing an additional 132 shares in the last quarter. Finally, SRS Capital Advisors Inc. lifted its position in shares of Cencora by 6.7% during the second quarter. SRS Capital Advisors Inc. now owns 3,338 shares of the company’s stock valued at $752,000 after buying an additional 210 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors.

Insider Activity at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction that occurred 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 sale, the chairman now directly owns 285,088 shares in the company, valued at $67,223,750.40. This represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $228.72, for a total value of $383,792.16. Following the transaction, the executive vice president now owns 20,329 shares in the company, valued at approximately $4,649,648.88. The trade was a 7.62 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 94,696 shares of company stock valued at $22,862,734. 15.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Bank of America restated a “neutral” rating and issued a $245.00 target price (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. UBS Group upped their price objective on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Robert W. Baird raised their target price on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Evercore ISI boosted their price target on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, StockNews.com cut shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and a consensus target price of $275.60.

Cencora Price Performance

Shares of NYSE COR traded down $0.87 during trading on Monday, hitting $228.33. The company had a trading volume of 538,327 shares, compared to its average volume of 980,111. The firm has a market capitalization of $44.13 billion, a price-to-earnings ratio of 30.40, a price-to-earnings-growth ratio of 1.54 and a beta of 0.45. The stock has a fifty day simple moving average of $237.44 and a two-hundred day simple moving average of $233.60. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. Cencora, Inc. has a fifty-two week low of $208.58 and a fifty-two week high of $253.27.

Cencora Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.96%. This is a boost from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, November 15th. Cencora’s payout ratio is presently 29.29%.

Cencora Company 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.