Portfolio Design Labs LLC Boosts Stock Position in Cencora, Inc. (NYSE:COR)

Portfolio Design Labs LLC grew its holdings in shares of Cencora, Inc. (NYSE:COR) by 76.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,032 shares of the company’s stock after buying an additional 4,794 shares during the period. Portfolio Design Labs LLC’s holdings in Cencora were worth $2,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of COR. Concord Wealth Partners acquired a new stake in Cencora during the 3rd quarter worth $30,000. Householder Group Estate & Retirement Specialist LLC grew its holdings in shares of Cencora by 85.2% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock worth $33,000 after purchasing an additional 69 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Cencora during the third quarter worth about $41,000. Modus Advisors LLC purchased a new stake in shares of Cencora in the 4th quarter valued at about $54,000. Finally, Carolina Wealth Advisors LLC lifted its holdings in shares of Cencora by 366.7% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $60,000 after purchasing an additional 209 shares during the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total value of $5,208,619.44. Following the sale, the chairman now owns 306,752 shares in the company, valued at $74,283,064.32. This represents a 6.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction on Friday, December 20th. The stock was sold at an average price of $228.72, for a total value of $383,792.16. Following 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 represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,187 shares of company stock worth $17,790,912. 10.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

COR has been the topic of several research analyst reports. Evercore ISI lifted their price target on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Mizuho initiated coverage on shares of Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price on the stock. JPMorgan Chase & Co. increased their price target 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. Wells Fargo & Company lifted their price objective on shares of Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Finally, UBS Group upped their target price on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $277.90.

Cencora Stock Up 0.2 %

Shares of NYSE:COR opened at $246.86 on Wednesday. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $262.26. The company has a quick ratio of 0.53, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The firm’s 50-day simple moving average is $238.86 and its 200-day simple moving average is $237.03. The company has a market cap of $47.71 billion, a price-to-earnings ratio of 35.11, 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 earnings per share for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. As a group, equities research analysts predict that Cencora, Inc. will post 15.36 earnings per share for the current year.

Cencora Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Friday, February 14th. Cencora’s dividend payout ratio is presently 31.29%.

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.