Cencora, Inc. (NYSE:COR) Shares Purchased by Busey Bank

Busey Bank boosted its stake in shares of Cencora, Inc. (NYSE:COR) by 9.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 4,699 shares of the company’s stock after acquiring an additional 395 shares during the period. Busey Bank’s holdings in Cencora were worth $1,056,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Synergy Asset Management LLC purchased a new stake in shares of Cencora during the fourth quarter worth $15,821,000. Milestone Asset Management LLC grew its holdings in Cencora by 430.2% in the 4th quarter. Milestone Asset Management LLC now owns 5,461 shares of the company’s stock valued at $1,227,000 after buying an additional 4,431 shares in the last quarter. Foster & Motley Inc. raised its holdings in shares of Cencora by 4.1% during the 4th quarter. Foster & Motley Inc. now owns 7,907 shares of the company’s stock worth $1,777,000 after acquiring an additional 314 shares during the period. Ibex Wealth Advisors purchased a new position in Cencora during the fourth quarter worth about $279,000. Finally, Swedbank AB boosted its holdings in Cencora by 2.2% in the 4th quarter. Swedbank AB now owns 1,425,775 shares of the company’s stock valued at $320,343,000 after purchasing an additional 31,326 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Up 1.0 %

COR opened at $258.54 on Friday. The firm has a 50 day moving average price of $238.56 and a 200 day moving average price of $235.60. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $261.25. The company has a market cap of $49.97 billion, a PE ratio of 34.43, a price-to-earnings-growth ratio of 1.54 and a beta of 0.49.

Cencora Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.85%. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is currently 29.29%.

Insider Buying and Selling at Cencora

In other Cencora news, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $228.72, for a total value of $383,792.16. Following the sale, the executive vice president now owns 20,329 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Steven H. Collis sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the completion of the sale, the chairman now owns 326,557 shares in the company, valued at $79,670,111.29. The trade was a 13.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,187 shares of company stock worth $17,790,912 in the last 90 days. 15.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on COR. Mizuho initiated coverage on shares of Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective on the stock. Barclays upped their price target on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Evercore ISI raised their target price on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. UBS Group raised their price objective 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. Finally, Wells Fargo & Company upped their price objective on Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $278.40.

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.