ProVise Management Group LLC Has $643,000 Holdings in Cencora, Inc. (NYSE:COR)

ProVise Management Group LLC cut its holdings in Cencora, Inc. (NYSE:COR) by 11.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,862 shares of the company’s stock after selling 368 shares during the period. ProVise Management Group LLC’s holdings in Cencora were worth $643,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hickory Asset Management Inc. acquired a new stake in shares of Cencora in the fourth quarter valued at approximately $572,000. Sylvest Advisors LLC acquired a new stake in shares of Cencora in the fourth quarter valued at approximately $1,105,000. Insight Wealth Strategies LLC increased its holdings in Cencora by 124.6% during the fourth 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 during the last quarter. Cerity Partners LLC increased 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 buying an additional 3,610 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in Cencora by 46.9% during the fourth quarter. Vontobel Holding Ltd. now owns 6,245 shares of the company’s stock worth $1,403,000 after buying an additional 1,995 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on COR. Mizuho began coverage on shares of Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price on the stock. Evercore ISI boosted their target price on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company boosted their target price on shares of Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. JPMorgan Chase & Co. boosted their target price on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Cencora has an average rating of “Moderate Buy” and a consensus price target of $280.20.

Cencora Price Performance

NYSE:COR opened at $266.10 on Thursday. The firm’s fifty day moving average price is $249.41 and its two-hundred day moving average price is $239.67. The company has a market cap of $51.60 billion, a P/E ratio of 37.85, a P/E/G ratio of 1.31 and a beta of 0.51. Cencora, Inc. has a one year low of $214.77 and a one year high of $270.94. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54.

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

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Friday, February 14th. Cencora’s dividend payout ratio is 31.29%.

Insider Buying and Selling

In related news, CEO Robert P. Mauch sold 4,970 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $255.00, for a total transaction of $1,267,350.00. Following the transaction, the chief executive officer now directly owns 51,070 shares of the company’s stock, valued at approximately $13,022,850. This trade represents a 8.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lazarus Krikorian sold 2,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $260.06, for a total transaction of $520,120.00. Following the sale, the chief accounting officer now owns 20,154 shares in the company, valued at $5,241,249.24. The trade was a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,648 shares of company stock valued at $3,382,462. 10.80% of the stock is owned by company insiders.

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.