Client 1ST Advisory Group LLC Takes Position in Cencora, Inc. (NYSE:COR)

Client 1ST Advisory Group LLC purchased a new position in shares of Cencora, Inc. (NYSE:COR) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,452 shares of the company’s stock, valued at approximately $551,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Pacer Advisors Inc. raised its stake in shares of Cencora by 6,855.3% in the third quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock worth $464,874,000 after acquiring an additional 2,035,679 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Cencora by 136.8% in the second quarter. Bank of Montreal Can now owns 641,887 shares of the company’s stock valued at $153,623,000 after purchasing an additional 370,841 shares in the last quarter. Wellington Management Group LLP raised its position in Cencora by 7.0% in the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock worth $1,168,927,000 after purchasing an additional 338,452 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Cencora by 40.2% during the 4th quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock worth $243,173,000 after buying an additional 308,773 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of Cencora by 21.7% in the 3rd quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock valued at $368,771,000 after buying an additional 292,600 shares during the period. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Price Performance

COR opened at $242.11 on Monday. The company has a fifty day simple moving average of $237.52 and a 200 day simple moving average of $234.01. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. The stock has a market cap of $46.80 billion, a P/E ratio of 32.24, a P/E/G ratio of 1.48 and a beta of 0.49. Cencora, Inc. has a 12 month low of $214.77 and a 12 month high of $253.27.

Cencora Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.55 per share. The ex-dividend date was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.91%. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio (DPR) is currently 29.29%.

Insider Activity

In other news, Chairman Steven H. Collis sold 21,509 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total value of $5,208,619.44. Following the sale, the chairman now directly owns 306,752 shares in the company, valued at $74,283,064.32. The trade was a 6.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Silvana Battaglia sold 1,678 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $4,649,648.88. The trade was a 7.62 % decrease in their ownership of the stock. 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 90 days. Corporate insiders own 15.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on COR. Wells Fargo & Company lowered their price objective on Cencora from $249.00 to $237.00 and set an “equal weight” rating for the company in a research report on Friday, December 13th. UBS Group boosted their price target on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Leerink Partners cut their price objective on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Robert W. Baird lifted their target price on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Barclays increased their price target on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.