Empirical Finance LLC Has $1.24 Million Position in Cencora, Inc. (NYSE:COR)

Empirical Finance LLC grew its position in shares of Cencora, Inc. (NYSE:COR) by 2.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,499 shares of the company’s stock after purchasing an additional 114 shares during the quarter. Empirical Finance LLC’s holdings in Cencora were worth $1,238,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New Millennium Group LLC acquired a new stake in Cencora during the 2nd quarter worth approximately $26,000. TFO Wealth Partners LLC bought a new stake in shares of Cencora in the first quarter worth $30,000. MFA Wealth Advisors LLC acquired a new stake in Cencora in the second quarter valued at $30,000. Concord Wealth Partners bought a new position in Cencora during the 3rd quarter worth $30,000. Finally, LRI Investments LLC acquired a new position in Cencora during the 1st quarter worth about $31,000. 97.52% of the stock is currently owned by institutional investors.

Insider Activity at Cencora

In related news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total value of $5,071,822.20. Following the transaction, the chairman now directly owns 285,088 shares in the company, valued at $67,223,750.40. This trade represents a 7.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 15.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on COR shares. Bank of America reissued a “neutral” rating and issued a $245.00 price target (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Robert W. Baird increased their target price on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. UBS Group boosted their price target on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company increased their price objective on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and an average price target of $271.20.

Cencora Trading Down 1.1 %

NYSE:COR opened at $240.24 on Friday. Cencora, Inc. has a 12 month low of $194.23 and a 12 month high of $251.56. 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 stock has a market capitalization of $47.34 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 1.66 and a beta of 0.44. The firm has a fifty day simple moving average of $232.62 and a two-hundred day simple moving average of $231.03.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 0.92%. Cencora’s dividend payout ratio (DPR) is currently 29.29%.

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.