Belmont Capital LLC Purchases 42,200 Shares of Cencora, Inc. (NYSE:COR)

Belmont Capital LLC raised its position in Cencora, Inc. (NYSE:COR - Free Report) by 91.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,350 shares of the company's stock after purchasing an additional 42,200 shares during the quarter. Cencora comprises 3.3% of Belmont Capital LLC's investment portfolio, making the stock its 7th biggest position. Belmont Capital LLC's holdings in Cencora were worth $19,886,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. New Millennium Group LLC purchased a new stake in shares of Cencora in the 2nd quarter valued at approximately $26,000. TFO Wealth Partners LLC purchased a new position in shares of Cencora in the 1st quarter valued at $30,000. MFA Wealth Advisors LLC purchased a new position in shares of Cencora in the 2nd quarter valued at $30,000. Concord Wealth Partners purchased a new position in shares of Cencora in the 3rd quarter valued at $30,000. Finally, LRI Investments LLC purchased a new position in shares of Cencora in the 1st quarter valued at $31,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the firm's stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the transaction, the chairman now directly owns 285,088 shares of the company's stock, valued at $67,223,750.40. This trade represents a 7.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 15.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on COR. Robert W. Baird increased their target price on shares of Cencora from $287.00 to $292.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Leerink Partners lowered their price objective on shares of Cencora from $277.00 to $275.00 and set an "outperform" rating on the stock in a research report on Monday, October 7th. UBS Group raised their price objective on shares of Cencora from $275.00 to $285.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. StockNews.com downgraded shares of Cencora from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 20th. Finally, Evercore ISI raised their price objective on shares of Cencora from $250.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Cencora presently has an average rating of "Moderate Buy" and a consensus target price of $271.20.

Cencora Price Performance

Cencora stock traded down $1.90 during mid-day trading on Tuesday, reaching $240.97. The company had a trading volume of 820,246 shares, compared to its average volume of 1,406,672. Cencora, Inc. has a 1 year low of $194.56 and a 1 year high of $251.56. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The company has a market capitalization of $47.48 billion, a P/E ratio of 32.09, a P/E/G ratio of 1.60 and a beta of 0.44. The stock's 50-day simple moving average is $232.75 and its 200-day simple moving average is $231.17.

Cencora Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.91%. This is a boost from Cencora's previous quarterly dividend of $0.51. The ex-dividend date is Friday, November 15th. Cencora's dividend payout ratio (DPR) is 29.29%.

Cencora 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.