SG Americas Securities LLC Raises Stake in Cencora, Inc. (NYSE:COR)

SG Americas Securities LLC boosted its stake in Cencora, Inc. (NYSE:COR) by 90.2% in the 4th quarter, Holdings Channel reports. The firm owned 79,413 shares of the company’s stock after buying an additional 37,651 shares during the quarter. SG Americas Securities LLC’s holdings in Cencora were worth $17,843,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans increased its position in shares of Cencora by 176.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 86,007 shares of the company’s stock worth $19,377,000 after purchasing an additional 54,949 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Cencora by 5.6% in the 2nd quarter. ProShare Advisors LLC now owns 36,869 shares of the company’s stock worth $8,307,000 after purchasing an additional 1,960 shares during the last quarter. Frank Rimerman Advisors LLC boosted its holdings in shares of Cencora by 10,683.3% during the second quarter. Frank Rimerman Advisors LLC now owns 1,294 shares of the company’s stock valued at $292,000 after acquiring an additional 1,282 shares during the period. 1832 Asset Management L.P. increased its stake in shares of Cencora by 91,933.3% in the second quarter. 1832 Asset Management L.P. now owns 16,566 shares of the company’s stock valued at $3,732,000 after purchasing an additional 16,548 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Cencora by 13.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,543 shares of the company’s stock worth $367,000 after purchasing an additional 182 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Stock Performance

Shares of Cencora stock opened at $247.12 on Thursday. The company’s fifty day moving average is $237.26 and its 200 day moving average is $234.40. Cencora, Inc. has a twelve month low of $214.77 and a twelve month high of $253.27. The stock has a market cap of $47.76 billion, a price-to-earnings ratio of 32.91, a P/E/G ratio of 1.51 and a beta of 0.49. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.55 dividend. The ex-dividend date was Friday, November 15th. This is a positive change from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 0.89%. Cencora’s payout ratio is 29.29%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Robert W. Baird raised their price objective on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. UBS Group lifted their target price on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company lowered their price target on Cencora from $249.00 to $237.00 and set an “equal weight” rating on the stock in a report on Friday, December 13th. Evercore ISI increased their target price on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Mizuho initiated coverage on shares of Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $275.60.

Insider Buying and Selling

In related news, EVP Silvana Battaglia sold 1,678 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the sale, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This trade represents a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Steven H. Collis sold 21,509 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the completion of the transaction, the chairman now owns 306,752 shares in the company, valued at approximately $74,283,064.32. The trade was a 6.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,187 shares of company stock valued at $17,790,912 over the last ninety days. 15.80% of the stock is owned by corporate insiders.

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.