Cencora, Inc. (NYSE:COR) Stock Holdings Lifted by MGB Wealth Management LLC

MGB Wealth Management LLC grew its position in Cencora, Inc. (NYSE:COR) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,759 shares of the company’s stock after purchasing an additional 124 shares during the period. MGB Wealth Management LLC’s holdings in Cencora were worth $1,069,000 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. Lake Street Advisors Group LLC increased 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 buying an additional 43 shares during the last quarter. Venturi Wealth Management LLC increased its stake in shares of Cencora by 1.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock worth $1,001,000 after purchasing an additional 46 shares during the last quarter. Prime Capital Investment Advisors LLC raised its holdings in shares of Cencora by 1.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock valued at $848,000 after purchasing an additional 46 shares in the last quarter. Shepherd Financial Partners LLC lifted its stake in shares of Cencora by 0.9% in the 4th quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company’s stock valued at $1,223,000 after purchasing an additional 46 shares during the last quarter. Finally, J.W. Cole Advisors Inc. boosted its holdings in Cencora by 1.3% in 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 hedge funds and other institutional investors.

Cencora Price Performance

NYSE:COR opened at $243.55 on Thursday. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.53. Cencora, Inc. has a one year low of $214.77 and a one year high of $262.26. The company has a fifty day moving average price of $238.70 and a 200 day moving average price of $237.21. The stock has a market cap of $47.07 billion, a P/E ratio of 34.64, a PEG ratio of 1.49 and a beta of 0.49.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, beating 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%. Analysts anticipate that Cencora, Inc. will post 15.36 earnings per share for the current year.

Cencora Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a $0.55 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.90%. Cencora’s dividend payout ratio is currently 31.29%.

Analysts Set New Price Targets

COR has been the topic of several recent research reports. Wells Fargo & Company raised their target price on Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Robert W. Baird raised their price objective on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Evercore ISI upped their target price on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Barclays increased their price target on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.90.

Insider Transactions at Cencora

In other news, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the sale, the chairman now owns 306,752 shares in the company, valued at approximately $74,283,064.32. This trade represents a 6.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,187 shares of company stock valued at $17,790,912. 10.80% of the stock is owned by corporate insiders.

Cencora Company 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.