Park Avenue Securities LLC Buys 3,156 Shares of Cencora, Inc. (NYSE:COR)

Park Avenue Securities LLC lifted its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 37.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,690 shares of the company's stock after acquiring an additional 3,156 shares during the quarter. Park Avenue Securities LLC's holdings in Cencora were worth $2,627,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Concord Wealth Partners bought a new stake in shares of Cencora in the 3rd quarter worth $30,000. SYSTM Wealth Solutions LLC bought a new stake in Cencora in the second quarter worth about $36,000. Ashton Thomas Securities LLC acquired a new stake in Cencora in the 3rd quarter valued at about $41,000. Fairscale Capital LLC bought a new position in shares of Cencora during the 2nd quarter valued at about $54,000. Finally, Modus Advisors LLC acquired a new position in shares of Cencora in the 4th quarter worth approximately $54,000. Institutional investors own 97.52% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Robert W. Baird increased their target price on shares of Cencora from $287.00 to $292.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Barclays raised their price objective on Cencora from $263.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. StockNews.com lowered Cencora from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 20th. Mizuho initiated coverage on Cencora in a research report on Wednesday, December 4th. They issued an "outperform" rating and a $280.00 price target for the company. Finally, Leerink Partners cut their price objective on Cencora from $277.00 to $275.00 and set an "outperform" rating on the stock in a report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $275.60.

Cencora Stock Up 0.5 %

COR traded up $1.22 on Friday, reaching $242.11. 1,492,998 shares of the company traded hands, 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 current ratio of 0.88 and a quick ratio of 0.53. The company has a market cap of $46.80 billion, a price-to-earnings ratio of 32.24, a PEG ratio of 1.48 and a beta of 0.49. The stock's 50 day moving average price is $237.52 and its 200-day moving average price is $233.93.

Cencora Increases Dividend

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

Insider Buying and Selling

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

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.