Mediolanum International Funds Ltd Buys 11,426 Shares of Cencora, Inc. (NYSE:COR)

Mediolanum International Funds Ltd raised its stake in shares of Cencora, Inc. (NYSE:COR) by 16.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,766 shares of the company’s stock after purchasing an additional 11,426 shares during the period. Mediolanum International Funds Ltd’s holdings in Cencora were worth $17,880,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of COR. Lake Street Advisors Group LLC lifted its stake in Cencora by 1.3% in the third quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock valued at $769,000 after buying an additional 43 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of Cencora by 1.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock worth $1,001,000 after acquiring an additional 46 shares in the last quarter. Prime Capital Investment Advisors LLC increased its stake in Cencora by 1.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock valued at $848,000 after buying an additional 46 shares during the last quarter. J.W. Cole Advisors Inc. increased its position in shares of Cencora by 1.3% in the third quarter. J.W. Cole Advisors Inc. now owns 3,669 shares of the company’s stock valued at $826,000 after acquiring an additional 48 shares during the last quarter. Finally, Impact Partnership Wealth LLC increased its position in shares of Cencora by 2.6% during the 3rd quarter. Impact Partnership Wealth LLC now owns 2,042 shares of the company’s stock worth $460,000 after purchasing an additional 51 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Up 1.0 %

NYSE COR opened at $258.54 on Friday. 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 company has a market cap of $49.97 billion, a price-to-earnings ratio of 34.43, a PEG ratio of 1.54 and a beta of 0.49. The company has a 50 day moving average of $238.56 and a 200-day moving average of $235.60. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $261.25.

Cencora Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.55 dividend. The ex-dividend date was Friday, November 15th. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 0.85%. Cencora’s payout ratio is currently 29.29%.

Insider Activity

In other news, EVP Silvana Battaglia sold 1,678 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were 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 owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This represents a 7.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 50,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the sale, the chairman now owns 326,557 shares in the company, valued at $79,670,111.29. This represents a 13.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 73,187 shares of company stock worth $17,790,912. 15.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on COR. Robert W. Baird boosted their target price on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Leerink Partners reduced their price objective on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. JPMorgan Chase & Co. increased their price objective on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Evercore ISI lifted their target price 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, UBS Group increased their price target on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $278.40.

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.