Cencora, Inc. (NYSE:COR) Shares Purchased by Cottonwood Capital Advisors LLC

Cottonwood Capital Advisors LLC raised its stake in Cencora, Inc. (NYSE:COR) by 95.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,750 shares of the company’s stock after purchasing an additional 855 shares during the quarter. Cottonwood Capital Advisors LLC’s holdings in Cencora were worth $393,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Public Sector Pension Investment Board increased its holdings in Cencora by 39.4% in the second quarter. Public Sector Pension Investment Board now owns 4,508 shares of the company’s stock valued at $1,016,000 after buying an additional 1,274 shares during the last quarter. Evergreen Capital Management LLC raised its position in shares of Cencora by 4.7% during the 2nd quarter. Evergreen Capital Management LLC now owns 1,147 shares of the company’s stock worth $258,000 after acquiring an additional 52 shares in the last quarter. Marshall Wace LLP purchased a new stake in Cencora during the second quarter worth approximately $1,539,000. MBB Public Markets I LLC boosted its holdings in Cencora by 920.0% in the second quarter. MBB Public Markets I LLC now owns 12,648 shares of the company’s stock valued at $2,850,000 after purchasing an additional 11,408 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Cencora by 4.0% in the second quarter. The Manufacturers Life Insurance Company now owns 489,238 shares of the company’s stock valued at $110,225,000 after purchasing an additional 18,935 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Transactions at Cencora

In related news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction on 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 owns 306,752 shares of the company’s stock, valued at $74,283,064.32. This represents a 6.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $228.72, for a total value of $383,792.16. Following the completion of the sale, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This trade represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 73,187 shares of company stock worth $17,790,912 over the last ninety days. 15.80% of the stock is currently owned by company insiders.

Cencora Price Performance

Shares of NYSE COR opened at $248.45 on Friday. The stock has a fifty day moving average price of $237.51 and a 200 day moving average price of $234.66. Cencora, Inc. has a 1-year low of $214.77 and a 1-year 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 $48.02 billion, a PE ratio of 33.08, a P/E/G ratio of 1.54 and a beta of 0.49.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio (DPR) is 29.29%.

Analysts Set New Price Targets

COR has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. UBS Group raised their price objective on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Mizuho began coverage on Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price for the company. Wells Fargo & Company decreased their target price on Cencora from $249.00 to $237.00 and set an “equal weight” rating for the company in a research report on Friday, December 13th. Finally, Leerink Partners reduced their price objective on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $277.00.

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.