Cencora, Inc. (NYSE:COR) Stake Raised by Islay Capital Management LLC

Islay Capital Management LLC increased its position in Cencora, Inc. (NYSE:COR - Free Report) by 53.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 11,861 shares of the company's stock after purchasing an additional 4,156 shares during the period. Cencora accounts for about 1.8% of Islay Capital Management LLC's holdings, making the stock its 13th biggest holding. Islay Capital Management LLC's holdings in Cencora were worth $2,670,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD purchased a new stake in Cencora during the 1st quarter valued at approximately $2,183,619,000. Boston Partners purchased a new stake in Cencora during the 1st quarter valued at approximately $1,001,269,000. Capital Research Global Investors purchased a new stake in Cencora during the 1st quarter valued at approximately $650,424,000. Bessemer Group Inc. purchased a new stake in Cencora during the 1st quarter valued at approximately $556,245,000. Finally, Legal & General Group Plc raised its stake in Cencora by 3.7% during the 2nd quarter. Legal & General Group Plc now owns 1,875,445 shares of the company's stock valued at $422,538,000 after acquiring an additional 67,287 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on COR shares. Wells Fargo & Company boosted their target price on Cencora from $236.00 to $249.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 1st. StockNews.com cut Cencora from a "strong-buy" rating to a "buy" rating in a report on Friday, September 20th. Evercore ISI increased their target price on Cencora from $250.00 to $285.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Leerink Partners lowered their target price on Cencora from $277.00 to $275.00 and set an "outperform" rating on the stock in a report on Monday, October 7th. Finally, Robert W. Baird increased their price target on Cencora from $287.00 to $292.00 and gave the stock an "outperform" rating in a research note 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $271.20.

Cencora Stock Up 1.1 %

NYSE:COR traded up $2.63 during mid-day trading on Monday, reaching $242.87. The stock had a trading volume of 1,243,183 shares, compared to its average volume of 1,409,300. The company has a market capitalization of $47.86 billion, a price-to-earnings ratio of 32.29, a price-to-earnings-growth ratio of 1.60 and a beta of 0.44. Cencora, Inc. has a 1-year low of $194.56 and a 1-year high of $251.56. The stock's 50 day simple moving average is $232.62 and its two-hundred day simple moving average is $231.04. 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 will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.55 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.91%. This is a boost from Cencora's previous quarterly dividend of $0.51. Cencora's dividend payout ratio (DPR) is currently 27.16%.

Insiders Place Their Bets

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the firm's stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total value of $5,071,822.20. Following the transaction, the chairman now owns 285,088 shares of the company's stock, valued at $67,223,750.40. This trade represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 15.80% of the stock is currently owned by corporate 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.