Abound Financial LLC Purchases Shares of 2,123 Cencora, Inc. (NYSE:COR)

Abound Financial LLC purchased a new stake in shares of Cencora, Inc. (NYSE:COR) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,123 shares of the company’s stock, valued at approximately $477,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of COR. Hickory Asset Management Inc. bought a new stake in shares of Cencora in the 4th quarter worth $572,000. Sylvest Advisors LLC bought a new stake in shares of Cencora in the 4th quarter worth $1,105,000. Insight Wealth Strategies LLC grew its stake in shares of Cencora by 124.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 20,249 shares of the company’s stock worth $4,549,000 after acquiring an additional 11,232 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Cencora by 10.1% in the 3rd quarter. Cerity Partners LLC now owns 39,457 shares of the company’s stock worth $8,881,000 after acquiring an additional 3,610 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Cencora by 71.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,048 shares of the company’s stock worth $1,583,000 after acquiring an additional 2,928 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on COR shares. Barclays upped their target price on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. 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 report on Thursday, November 7th. JPMorgan Chase & Co. boosted their price target on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Mizuho assumed coverage on shares of Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target on the stock. Finally, Evercore ISI boosted their price target on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $277.90.

Cencora Price Performance

NYSE COR opened at $241.47 on Friday. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $262.26. The company has a market cap of $46.83 billion, a PE ratio of 34.35, a price-to-earnings-growth ratio of 1.31 and a beta of 0.49. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The firm’s 50-day simple moving average is $239.52 and its two-hundred day simple moving average is $237.45.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. Research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a $0.55 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.91%. Cencora’s dividend payout ratio (DPR) is currently 31.29%.

Insider Activity

In related news, Chairman Steven H. Collis sold 50,000 shares of the firm’s 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 of the company’s stock, valued at $79,670,111.29. This trade represents a 13.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $383,792.16. Following the completion of the sale, the executive vice president now directly owns 20,329 shares in the company, valued at $4,649,648.88. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.80% of the stock is owned by company insiders.

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.