Kestra Investment Management LLC Grows Position in Cencora, Inc. (NYSE:COR)

Kestra Investment Management LLC lifted its holdings in shares of Cencora, Inc. (NYSE:COR) by 46.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,441 shares of the company’s stock after buying an additional 1,087 shares during the period. Kestra Investment Management LLC’s holdings in Cencora were worth $773,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. JFS Wealth Advisors LLC boosted its position in shares of Cencora by 63.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after buying an additional 46 shares during the last quarter. Concord Wealth Partners purchased a new stake in shares of Cencora during the third quarter valued at $30,000. Householder Group Estate & Retirement Specialist LLC boosted its position in Cencora by 85.2% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock worth $33,000 after purchasing an additional 69 shares during the last quarter. Kentucky Trust Co purchased a new position in Cencora in the fourth quarter worth about $33,000. Finally, WASHINGTON TRUST Co boosted its position in Cencora by 37.7% in the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock worth $38,000 after purchasing an additional 46 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on COR. UBS Group raised their target price on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Robert W. Baird raised their target price on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Mizuho began coverage on Cencora in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price on the stock. JPMorgan Chase & Co. raised their target price on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Wells Fargo & Company raised their target price on Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $277.90.

Insider Activity at Cencora

In related news, EVP Silvana Battaglia sold 1,678 shares of Cencora 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 sale, the executive vice president now 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 position. 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 Cencora stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $243.97, for a total value of $12,198,500.00. Following the sale, the chairman now directly owns 326,557 shares in the company, valued at $79,670,111.29. This trade represents a 13.28 % decrease in their position. The disclosure for this sale can be found here. 10.80% of the stock is owned by corporate insiders.

Cencora Stock Down 0.5 %

NYSE COR opened at $241.37 on Wednesday. The stock’s 50-day moving average price is $238.75 and its 200-day moving average price is $237.41. The company has a quick ratio of 0.53, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $262.26. The company has a market capitalization of $46.65 billion, a P/E ratio of 34.33, a price-to-earnings-growth ratio of 1.49 and a beta of 0.49.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. On average, equities research analysts predict that Cencora, Inc. will post 15.36 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Friday, February 14th. Cencora’s dividend payout ratio (DPR) is presently 31.29%.

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.