Latitude Advisors LLC Makes New Investment in Cencora, Inc. (NYSE:COR)

Latitude Advisors LLC acquired a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,487 shares of the company's stock, valued at approximately $559,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COR. Dynamic Advisor Solutions LLC raised its holdings in shares of Cencora by 15.2% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 1,166 shares of the company's stock valued at $262,000 after purchasing an additional 154 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of Cencora by 5.0% in the 3rd quarter. Valeo Financial Advisors LLC now owns 1,645 shares of the company's stock valued at $370,000 after purchasing an additional 79 shares in the last quarter. Gateway Investment Advisers LLC raised its holdings in shares of Cencora by 9.0% in the 3rd quarter. Gateway Investment Advisers LLC now owns 4,388 shares of the company's stock valued at $988,000 after purchasing an additional 364 shares in the last quarter. Retirement Planning Group LLC bought a new stake in shares of Cencora in the 3rd quarter valued at about $251,000. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Cencora by 41.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,334 shares of the company's stock valued at $1,201,000 after purchasing an additional 1,568 shares in the last quarter. Institutional investors own 97.52% of the company's stock.

Cencora Stock Performance

NYSE:COR traded up $0.18 during trading hours on Friday, hitting $244.16. 559,765 shares of the company were exchanged, compared to its average volume of 1,492,444. The stock has a market capitalization of $47.19 billion, a price-to-earnings ratio of 34.74, a PEG ratio of 1.49 and a beta of 0.49. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $262.26. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.53. The company's 50 day moving average price is $238.70 and its 200-day moving average price is $237.21.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. As a group, research analysts forecast that Cencora, Inc. will post 15.36 earnings per share for the current year.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Friday, February 14th. Cencora's dividend payout ratio (DPR) is currently 31.29%.

Insider Activity

In other news, Chairman Steven H. Collis sold 50,000 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $243.97, for a total value of $12,198,500.00. Following the sale, the chairman now directly owns 326,557 shares of the company's stock, valued at $79,670,111.29. This represents a 13.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Silvana Battaglia sold 1,678 shares of the business's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the transaction, the executive vice president now owns 20,329 shares of the company's stock, valued at approximately $4,649,648.88. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,187 shares of company stock valued at $17,790,912 in the last ninety days. Insiders own 10.80% of the company's stock.

Analysts Set New Price Targets

COR has been the topic of a number of analyst reports. Mizuho initiated coverage on shares of Cencora in a research report on Wednesday, December 4th. They issued an "outperform" rating and a $280.00 price objective on the stock. Evercore ISI lifted their price objective on shares of Cencora from $270.00 to $280.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. UBS Group lifted 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. Robert W. Baird lifted their price objective on shares of Cencora from $287.00 to $292.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Finally, Barclays lifted 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, November 7th. Two 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 stock has a consensus rating of "Moderate Buy" and an average target price of $277.90.

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.