Neo Ivy Capital Management acquired a new stake in Cencora, Inc. (NYSE:COR - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 17,398 shares of the company's stock, valued at approximately $3,916,000. Cencora comprises approximately 1.3% of Neo Ivy Capital Management's investment portfolio, making the stock its 7th biggest position.
Other hedge funds have also recently added to or reduced their stakes in the company. New Millennium Group LLC acquired a new position in Cencora in the second quarter valued at about $26,000. MFA Wealth Advisors LLC acquired a new position in shares of Cencora in the 2nd quarter valued at approximately $30,000. Concord Wealth Partners bought a new stake in Cencora during the 3rd quarter worth approximately $30,000. SYSTM Wealth Solutions LLC acquired a new stake in Cencora during the 2nd quarter worth approximately $36,000. Finally, Ashton Thomas Securities LLC bought a new position in Cencora in the third quarter valued at approximately $41,000. Institutional investors and hedge funds own 97.52% of the company's stock.
Cencora Stock Performance
Shares of COR traded down $6.16 during midday trading on Wednesday, reaching $230.85. The stock had a trading volume of 778,128 shares, compared to its average volume of 1,387,138. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. The firm has a 50 day simple moving average of $237.68 and a 200-day simple moving average of $233.85. The firm has a market cap of $44.62 billion, a PE ratio of 31.55, a P/E/G ratio of 1.62 and a beta of 0.45. Cencora, Inc. has a one year low of $195.83 and a one year high of $253.27.
Cencora Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.95%. This is a boost from Cencora's previous quarterly dividend of $0.51. The ex-dividend date was Friday, November 15th. Cencora's dividend payout ratio (DPR) is presently 29.29%.
Insider Buying and Selling at Cencora
In related news, Chairman Steven H. Collis sold 21,509 shares of the business's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total value of $5,208,619.44. Following the completion of the sale, the chairman now directly owns 306,752 shares in the company, valued at $74,283,064.32. The trade was a 6.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 93,018 shares of company stock valued at $22,478,942 in the last quarter. 15.80% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. Bank of America reissued a "neutral" rating and set a $245.00 price objective (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Mizuho started coverage on Cencora in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $280.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on Cencora from $280.00 to $287.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 21st. Barclays lifted their target price on Cencora from $263.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Finally, StockNews.com downgraded Cencora from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $276.80.
Get Our Latest Research Report on COR
Cencora Profile
(
Free Report)
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.
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