Occidental Asset Management LLC Boosts Stake in Cencora, Inc. (NYSE:COR)

Occidental Asset Management LLC increased its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,473 shares of the company's stock after acquiring an additional 1,280 shares during the quarter. Occidental Asset Management LLC's holdings in Cencora were worth $3,926,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of COR. State Street Corp raised its position in shares of Cencora by 3.8% during the third quarter. State Street Corp now owns 8,045,896 shares of the company's stock worth $1,810,970,000 after purchasing an additional 291,867 shares during the period. Wellington Management Group LLP increased its stake in Cencora by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company's stock valued at $1,168,927,000 after purchasing an additional 338,452 shares in the last quarter. Geode Capital Management LLC raised its holdings in Cencora by 4.7% during the third quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company's stock worth $941,183,000 after buying an additional 189,054 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Cencora by 6,855.3% in the third quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company's stock valued at $464,874,000 after buying an additional 2,035,679 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Cencora by 3.7% in the second quarter. Legal & General Group Plc now owns 1,875,445 shares of the company's stock valued at $422,538,000 after buying an additional 67,287 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Performance

Shares of COR stock traded up $2.28 during trading hours on Friday, hitting $243.17. 776,315 shares of the company were exchanged, compared to its average volume of 1,211,199. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $253.27. 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 fifty day simple moving average of $237.65 and a 200 day simple moving average of $233.72. The stock has a market capitalization of $47.00 billion, a price-to-earnings ratio of 32.41, a P/E/G ratio of 1.48 and a beta of 0.49.

Cencora Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.55 dividend. This is a boost from Cencora's previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date was Friday, November 15th. Cencora's payout ratio is currently 29.29%.

Insiders Place Their Bets

In other Cencora news, EVP Silvana Battaglia sold 1,678 shares of the firm's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $228.72, for a total value of $383,792.16. Following the completion of the transaction, the executive vice president now owns 20,329 shares in the company, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 21,509 shares of the company's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total value of $5,208,619.44. Following the sale, the chairman now owns 306,752 shares in the company, valued at approximately $74,283,064.32. This represents a 6.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 94,696 shares of company stock worth $22,862,734 over the last quarter. 15.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on COR. StockNews.com lowered shares of Cencora from a "strong-buy" rating to a "buy" rating in a report on Friday, September 20th. Robert W. Baird lifted their target price on Cencora from $287.00 to $292.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Leerink Partners lowered their price target on Cencora from $277.00 to $275.00 and set an "outperform" rating for the company in a research report on Monday, October 7th. Evercore ISI lifted their price objective on shares of Cencora from $250.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company lowered their target price on shares of Cencora from $249.00 to $237.00 and set an "equal weight" rating for the company in a report on Friday, December 13th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $275.60.

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.