GAMMA Investing LLC raised its stake in shares of Cencora, Inc. (NYSE:COR – Free Report) by 8.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,661 shares of the company’s stock after purchasing an additional 276 shares during the period. GAMMA Investing LLC’s holdings in Cencora were worth $823,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Concord Wealth Partners bought a new position in shares of Cencora in the third quarter valued at approximately $30,000. SYSTM Wealth Solutions LLC purchased a new stake in Cencora in the 2nd quarter valued at $36,000. Ashton Thomas Securities LLC bought a new position in Cencora during the 3rd quarter valued at $41,000. Fairscale Capital LLC purchased a new position in Cencora during the 2nd quarter worth $54,000. Finally, Carolina Wealth Advisors LLC grew its stake in shares of Cencora by 366.7% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 266 shares of the company’s stock worth $60,000 after acquiring an additional 209 shares in the last quarter. 97.52% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. Evercore ISI raised their price target on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Barclays lifted their target price on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Robert W. Baird upped their target price on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Bank of America reiterated a “neutral” rating and set a $245.00 price target (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Finally, Leerink Partners reduced their price objective on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $275.60.
Cencora Stock Up 2.0 %
Shares of NYSE COR opened at $229.20 on Friday. The business’s fifty day moving average price is $237.44 and its 200-day moving average price is $233.63. Cencora, Inc. has a one year low of $207.63 and a one year high of $253.27. The stock has a market capitalization of $44.30 billion, a PE ratio of 30.52, a P/E/G ratio of 1.54 and a beta of 0.45. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53.
Cencora Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Friday, November 15th. 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 Transactions at Cencora
In other Cencora news, EVP Silvana Battaglia sold 1,678 shares of the 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 sale, the executive vice president now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Steven H. Collis sold 50,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $243.97, for a total value of $12,198,500.00. Following the completion of the transaction, the chairman now directly owns 326,557 shares of the company’s stock, 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 94,696 shares of company stock worth $22,862,734 over the last quarter. Corporate insiders own 15.80% of the company’s stock.
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.
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