Occidental Asset Management LLC Boosts Stake in Cencora, Inc. (NYSE:COR)

Occidental Asset Management LLC raised its stake in Cencora, Inc. (NYSE:COR) by 7.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,473 shares of the company’s stock after acquiring an additional 1,280 shares during the quarter. Occidental Asset Management LLC’s holdings in Cencora were worth $3,926,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in Cencora by 3.8% in the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock worth $1,810,970,000 after buying an additional 291,867 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Cencora by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock worth $1,168,927,000 after acquiring an additional 338,452 shares during the period. Geode Capital Management LLC boosted its position in shares of Cencora by 4.7% in the third quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock worth $941,183,000 after acquiring an additional 189,054 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Cencora by 6,855.3% in the third quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after purchasing an additional 2,035,679 shares during the period. Finally, Legal & General Group Plc increased its position in Cencora by 3.7% during the second quarter. Legal & General Group Plc now owns 1,875,445 shares of the company’s stock worth $422,538,000 after purchasing an additional 67,287 shares during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Price Performance

COR stock opened at $240.51 on Friday. The stock’s 50 day moving average is $237.65 and its two-hundred day moving average is $233.72. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $253.27. The company has a market capitalization of $46.49 billion, a PE ratio of 32.03, a P/E/G ratio of 1.48 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 business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.55 dividend. The ex-dividend date was Friday, November 15th. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 0.91%. Cencora’s dividend payout ratio is currently 29.29%.

Insider Buying and Selling at Cencora

In related news, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 20,329 shares in the company, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 50,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the sale, the chairman now owns 326,557 shares of the company’s stock, valued at approximately $79,670,111.29. The trade was a 13.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 94,696 shares of company stock worth $22,862,734 in the last ninety days. 15.80% of the stock is owned by insiders.

Analyst Ratings Changes

COR has been the subject of several research reports. StockNews.com cut shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Leerink Partners dropped their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Wells Fargo & Company decreased their target price on Cencora from $249.00 to $237.00 and set an “equal weight” rating for the company in a report on Friday, December 13th. Mizuho started coverage on shares of Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target on the stock. Finally, Robert W. Baird lifted their target price on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $275.60.

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.