Miracle Mile Advisors LLC acquired a new stake in Cencora, Inc. (NYSE:COR – Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,217 shares of the company’s stock, valued at approximately $273,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of COR. Concord Wealth Partners acquired a new stake in shares of Cencora in the 3rd quarter valued at approximately $30,000. SYSTM Wealth Solutions LLC bought a new position in Cencora in the 2nd quarter valued at approximately $36,000. Ashton Thomas Securities LLC acquired a new stake in Cencora in the third quarter valued at approximately $41,000. Fairscale Capital LLC bought a new stake in shares of Cencora during the second quarter worth $54,000. Finally, Modus Advisors LLC acquired a new position in shares of Cencora during the fourth quarter worth $54,000. Institutional investors own 97.52% of the company’s stock.
Analyst Ratings Changes
COR has been the topic of several recent research reports. Evercore ISI raised their price objective on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. UBS Group boosted their price target on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays raised their price objective on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Finally, Robert W. Baird lifted their price target on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $275.60.
Cencora Trading Up 1.2 %
NYSE COR opened at $240.51 on Friday. The stock has a market capitalization of $46.49 billion, a P/E ratio of 32.03, a P/E/G ratio of 1.48 and a beta of 0.49. The business has a 50 day simple moving average of $237.65 and a 200 day simple moving average of $233.72. 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, Inc. has a one year low of $214.77 and a one year high of $253.27.
Cencora Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.91%. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is currently 29.29%.
Insider Activity at Cencora
In related 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 value of $383,792.16. Following the transaction, the executive vice president now directly owns 20,329 shares in the company, valued at $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 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 shares were sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the completion of the transaction, 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 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 quarter. Company insiders own 15.80% of the company’s stock.
Cencora Company 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.
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