Wright Investors Service Inc. Raises Stock Position in Cencora, Inc. (NYSE:COR)

Wright Investors Service Inc. lifted its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 253.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,522 shares of the company's stock after acquiring an additional 5,391 shares during the quarter. Wright Investors Service Inc.'s holdings in Cencora were worth $1,690,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Insight Wealth Strategies LLC raised its stake in shares of Cencora by 124.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 20,249 shares of the company's stock worth $4,549,000 after buying an additional 11,232 shares in the last quarter. Cerity Partners LLC grew its holdings in Cencora by 10.1% during the third quarter. Cerity Partners LLC now owns 39,457 shares of the company's stock worth $8,881,000 after acquiring an additional 3,610 shares during the period. Portfolio Design Labs LLC purchased a new position in Cencora in the third quarter worth $1,404,000. Mackenzie Financial Corp lifted its holdings in Cencora by 9.9% in the second quarter. Mackenzie Financial Corp now owns 81,001 shares of the company's stock valued at $18,250,000 after acquiring an additional 7,266 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of Cencora by 40.2% during the 4th quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company's stock worth $243,173,000 after purchasing an additional 308,773 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Price Performance

Shares of COR traded up $4.27 during trading hours on Tuesday, reaching $240.36. 1,377,008 shares of the company traded hands, compared to its average volume of 1,317,676. The stock has a market capitalization of $46.46 billion, a PE ratio of 32.01, a price-to-earnings-growth ratio of 1.54 and a beta of 0.49. The stock has a fifty day simple moving average of $237.82 and a 200 day simple moving average of $233.54. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $253.27. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84.

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $0.55 per share. This is a boost from Cencora's previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Friday, November 15th. Cencora's dividend payout ratio (DPR) is currently 29.29%.

Analysts Set New Price Targets

COR has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of Cencora from $275.00 to $285.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Barclays lifted their price target on shares of Cencora from $263.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Bank of America restated a "neutral" rating and issued a $245.00 price target (down previously from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Wells Fargo & Company reduced their price objective on Cencora from $249.00 to $237.00 and set an "equal weight" rating for the company in a report on Friday, December 13th. Finally, Evercore ISI upped their target price on Cencora from $250.00 to $285.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $275.60.

Insider Transactions at Cencora

In other news, Chairman Steven H. Collis sold 50,000 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the completion of the transaction, the chairman now 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 SEC, which is available through this link. Also, EVP Silvana Battaglia sold 1,678 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of 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. Insiders sold a total of 94,696 shares of company stock worth $22,862,734 over the last ninety days. 15.80% of the stock is currently owned by corporate insiders.

Cencora Company 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.