Kingsview Wealth Management LLC Cuts Stock Holdings in Cencora, Inc. (NYSE:COR)

Kingsview Wealth Management LLC lowered its stake in Cencora, Inc. (NYSE:COR) by 4.1% during the 3rd quarter, Holdings Channel reports. The firm owned 2,161 shares of the company’s stock after selling 93 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Cencora were worth $486,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of COR. New Millennium Group LLC bought a new stake in shares of Cencora in the second quarter worth about $26,000. MFA Wealth Advisors LLC bought a new stake in Cencora in the 2nd quarter worth approximately $30,000. Concord Wealth Partners purchased a new stake in shares of Cencora during the 3rd quarter worth approximately $30,000. LRI Investments LLC bought a new position in shares of Cencora during the 1st quarter valued at approximately $31,000. Finally, SYSTM Wealth Solutions LLC bought a new position in shares of Cencora during the 2nd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 21,509 shares of the 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 transaction, the chairman now owns 285,088 shares of the company’s stock, valued at $67,223,750.40. This represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 93,018 shares of company stock worth $22,478,942 in the last three months. Corporate insiders own 15.80% of the company’s stock.

Cencora Stock Up 0.5 %

NYSE:COR opened at $249.69 on Friday. The company has a market cap of $49.20 billion, a price-to-earnings ratio of 33.25, a price-to-earnings-growth ratio of 1.63 and a beta of 0.44. Cencora, Inc. has a twelve month low of $195.83 and a twelve month high of $251.56. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. The stock has a fifty day simple moving average of $234.44 and a 200-day simple moving average of $232.26.

Cencora Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.88%. This is a boost from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, November 15th. Cencora’s payout ratio is 29.29%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on COR. Evercore ISI upped their price target on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company upped their target price on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Bank of America reiterated a “neutral” rating and issued a $245.00 price target (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Barclays upped their price objective on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Leerink Partners dropped their target price on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and an average target price of $271.20.

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.