Advisors Capital Management LLC Buys 51 Shares of Cencora, Inc. (NYSE:COR)

Advisors Capital Management LLC raised its stake in Cencora, Inc. (NYSE:COR) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,514 shares of the company’s stock after purchasing an additional 51 shares during the period. Advisors Capital Management LLC’s holdings in Cencora were worth $565,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Passumpsic Savings Bank raised its holdings in Cencora by 4.9% in the 3rd quarter. Passumpsic Savings Bank now owns 6,464 shares of the company’s stock valued at $1,455,000 after acquiring an additional 304 shares in the last quarter. Virtu Financial LLC lifted its position in Cencora by 112.2% in the third quarter. Virtu Financial LLC now owns 10,227 shares of the company’s stock worth $2,302,000 after purchasing an additional 5,407 shares during the period. World Investment Advisors LLC acquired a new stake in Cencora during the third quarter worth $4,072,000. Arvest Bank Trust Division bought a new stake in Cencora in the 3rd quarter valued at $218,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Cencora in the 3rd quarter valued at $566,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on COR shares. Evercore ISI lifted their target price on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Bank of America raised their target price on Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, April 11th. StockNews.com upgraded Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Wells Fargo & Company lifted their price objective on Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Finally, JPMorgan Chase & Co. increased their target price on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $284.20.

Cencora Trading Up 0.0 %

COR stock opened at $284.40 on Wednesday. The business has a fifty day moving average of $261.65 and a 200-day moving average of $245.84. The company has a market cap of $55.15 billion, a P/E ratio of 40.46, a PEG ratio of 1.31 and a beta of 0.55. Cencora, Inc. has a twelve month low of $214.77 and a twelve month high of $296.65. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. As a group, equities research analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date was Friday, February 14th. Cencora’s dividend payout ratio (DPR) is currently 31.29%.

Insider Activity

In other news, Chairman Steven H. Collis sold 14,578 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the sale, the chairman now owns 317,913 shares of the company’s stock, valued at $85,680,732.63. This trade represents a 4.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the sale, the executive vice president now owns 14,665 shares in the company, valued at $3,934,326.20. This trade represents a 21.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,675 shares of company stock valued at $8,034,778 in the last ninety days. 10.80% of the stock is owned by insiders.

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.