Range Financial Group LLC Increases Position in Cencora, Inc. (NYSE:COR)

Range Financial Group LLC boosted its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 272.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,114 shares of the company's stock after acquiring an additional 6,669 shares during the quarter. Cencora accounts for 0.9% of Range Financial Group LLC's holdings, making the stock its 27th largest position. Range Financial Group LLC's holdings in Cencora were worth $2,048,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its stake in 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 in the last quarter. Wellington Management Group LLP lifted its holdings in Cencora by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company's stock worth $1,168,927,000 after buying an additional 338,452 shares in the last quarter. Geode Capital Management LLC boosted its position in Cencora by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company's stock valued at $941,183,000 after buying an additional 189,054 shares during the period. Pacer Advisors Inc. increased its position in shares of Cencora by 6,855.3% during the third quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company's stock worth $464,874,000 after acquiring an additional 2,035,679 shares during the period. Finally, Legal & General Group Plc raised 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 acquiring an additional 67,287 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cencora

In related news, Chairman Steven H. Collis sold 21,509 shares of the company's stock in a transaction that occurred 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 sale, the chairman now owns 306,752 shares of the company's stock, valued at approximately $74,283,064.32. This represents a 6.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $383,792.16. Following the sale, the executive vice president now directly owns 20,329 shares in the company, valued at $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. Over the last ninety days, insiders have sold 94,696 shares of company stock worth $22,862,734. Insiders own 15.80% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on COR. Mizuho started coverage on Cencora in a report on Wednesday, December 4th. They set an "outperform" rating and a $280.00 price target on the stock. Evercore ISI upped their target price on shares of Cencora from $250.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. StockNews.com downgraded shares of Cencora from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 20th. Wells Fargo & Company dropped their price objective on shares of Cencora from $249.00 to $237.00 and set an "equal weight" rating on the stock in a research report on Friday, December 13th. Finally, 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. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $275.60.

Cencora Stock Performance

Shares of NYSE COR traded up $4.90 during trading hours on Tuesday, reaching $233.78. The stock had a trading volume of 1,734,836 shares, compared to its average volume of 1,298,009. The firm has a 50-day moving average of $237.38 and a 200-day moving average of $233.51. The firm has a market cap of $45.18 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 1.54 and a beta of 0.49. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. Cencora, Inc. has a fifty-two week low of $208.58 and a fifty-two week high of $253.27.

Cencora Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.55 dividend. This is an increase from Cencora's previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 0.94%. The ex-dividend date was Friday, November 15th. Cencora's dividend payout ratio is presently 29.29%.

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.