Savvy Advisors Inc. Buys Shares of 985 Cencora, Inc. (NYSE:COR)

Savvy Advisors Inc. purchased a new position in Cencora, Inc. (NYSE:COR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 985 shares of the company’s stock, valued at approximately $222,000.

A number of other large investors also recently modified their holdings of COR. Lake Street Advisors Group LLC lifted its holdings in Cencora by 1.3% in the third quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock worth $769,000 after purchasing an additional 43 shares during the period. Financial Advocates Investment Management lifted its stake in shares of Cencora by 4.7% in the 2nd quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock worth $220,000 after acquiring an additional 44 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of Cencora by 1.0% in the third quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock valued at $1,001,000 after acquiring an additional 46 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in shares of Cencora by 2.2% during the second quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock valued at $499,000 after acquiring an additional 48 shares during the period. Finally, J.W. Cole Advisors Inc. raised its holdings in Cencora by 1.3% during the third quarter. J.W. Cole Advisors Inc. now owns 3,669 shares of the company’s stock worth $826,000 after purchasing an additional 48 shares in the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Stock Up 0.5 %

COR stock opened at $249.95 on Thursday. The company’s 50 day simple moving average is $232.38 and its 200-day simple moving average is $231.00. Cencora, Inc. has a 52-week low of $191.11 and a 52-week high of $251.56. 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 firm has a market capitalization of $49.25 billion, a P/E ratio of 33.28, a P/E/G ratio of 1.66 and a beta of 0.44.

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.88%. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio is presently 27.16%.

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, October 22nd. The stock was sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the transaction, the chairman now directly owns 285,088 shares of the company’s stock, valued at approximately $67,223,750.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 15.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on COR shares. JPMorgan Chase & Co. increased their price target on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Barclays lifted their target price on Cencora from $263.00 to $290.00 and gave the stock an “overweight” 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. 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. Finally, Evercore ISI raised 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. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $271.20.

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.