Heritage Wealth Management Inc. Invests $855,000 in Cencora, Inc. (NYSE:COR)

Heritage Wealth Management Inc. bought a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,798 shares of the company's stock, valued at approximately $855,000.

A number of other hedge funds also recently modified their holdings of the stock. New Millennium Group LLC bought a new position in Cencora in the 2nd quarter valued at about $26,000. TCTC Holdings LLC acquired a new stake in shares of Cencora in the 1st quarter valued at $29,000. TFO Wealth Partners LLC bought a new position in shares of Cencora in the 1st quarter valued at $30,000. MFA Wealth Advisors LLC acquired a new position in shares of Cencora during the 2nd quarter worth $30,000. Finally, Concord Wealth Partners bought a new stake in shares of Cencora during the 3rd quarter worth $30,000. Institutional investors own 97.52% of the company's stock.

Insider Activity

In related news, Chairman Steven H. Collis sold 21,509 shares of the business's stock in a transaction on 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 in the company, valued at $67,223,750.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 15.80% of the company's stock.

Cencora Trading Up 0.3 %

NYSE COR traded up $0.66 on Friday, reaching $248.42. The company had a trading volume of 1,376,047 shares, compared to its average volume of 1,409,854. The firm has a market cap of $48.95 billion, a price-to-earnings ratio of 32.99, a P/E/G ratio of 1.49 and a beta of 0.44. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. Cencora, Inc. has a fifty-two week low of $191.11 and a fifty-two week high of $251.00. The business has a 50 day moving average of $231.77 and a two-hundred day moving average of $230.76.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.21 by $0.13. The company had revenue of $79.05 billion during the quarter, compared to analysts' expectations of $77.68 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. Analysts forecast that Cencora, Inc. will post 13.64 EPS for the current year.

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.55 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.89%. This is an increase from Cencora's previous quarterly dividend of $0.51. Cencora's payout ratio is 29.29%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Bank of America reissued a "neutral" rating and set a $245.00 target price (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Barclays upped their price objective on shares of Cencora from $263.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday. Wells Fargo & Company raised their target price on shares of Cencora from $236.00 to $249.00 and gave the company an "equal weight" rating in a research report on Thursday, August 1st. Evercore ISI upped their price target on shares of Cencora from $250.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, JPMorgan Chase & Co. raised their price objective on Cencora from $280.00 to $287.00 and gave the company an "overweight" rating in a report on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $271.20.

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.