Client 1ST Advisory Group LLC Acquires New Shares in Cencora, Inc. (NYSE:COR)

Client 1ST Advisory Group LLC bought a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,452 shares of the company's stock, valued at approximately $551,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ieq Capital LLC boosted its position in shares of Cencora by 8.7% in the second quarter. Ieq Capital LLC now owns 9,613 shares of the company's stock worth $2,166,000 after buying an additional 768 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Cencora by 26.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 7,809 shares of the company's stock valued at $1,759,000 after purchasing an additional 1,626 shares during the period. Bridges Investment Management Inc. acquired a new stake in shares of Cencora during the second quarter worth approximately $318,000. AE Wealth Management LLC grew its position in Cencora by 2.5% during the second quarter. AE Wealth Management LLC now owns 18,826 shares of the company's stock valued at $4,242,000 after purchasing an additional 468 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Cencora by 2.5% in the 2nd quarter. Sei Investments Co. now owns 275,154 shares of the company's stock valued at $61,994,000 after buying an additional 6,626 shares during the period. Institutional investors and hedge funds own 97.52% of the company's stock.

Insider Activity

In related news, EVP Silvana Battaglia sold 1,678 shares of Cencora 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 completion of the sale, the executive vice president now directly owns 20,329 shares of the company's stock, valued at $4,649,648.88. The trade was a 7.62 % decrease in their ownership of the stock. 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 21,509 shares of the firm's stock in a transaction dated Tuesday, October 22nd. The stock was 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 in the company, valued at approximately $67,223,750.40. This trade represents a 7.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 94,696 shares of company stock valued at $22,862,734 over the last 90 days. 15.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on COR shares. Robert W. Baird upped their target price on Cencora from $287.00 to $292.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Barclays boosted their price objective 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 raised their price target on Cencora from $275.00 to $285.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Mizuho began coverage on Cencora in a research note on Wednesday, December 4th. They set an "outperform" rating and a $280.00 target price for the company. Finally, Wells Fargo & Company dropped their price target on Cencora from $249.00 to $237.00 and set an "equal weight" rating on the stock in a research report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $275.60.

Cencora Price Performance

Shares of NYSE COR traded up $1.22 during trading on Monday, reaching $242.11. The company had a trading volume of 1,492,998 shares, compared to its average volume of 993,012. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $253.27. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. The business's 50 day moving average price is $237.52 and its 200-day moving average price is $234.01. The stock has a market cap of $46.80 billion, a PE ratio of 32.24, a PEG ratio of 1.48 and a beta of 0.49.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.91%. This is an increase from Cencora's previous quarterly dividend of $0.51. Cencora's payout ratio is presently 29.29%.

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.