Axxcess Wealth Management LLC Grows Position in Cencora, Inc. (NYSE:COR)

Axxcess Wealth Management LLC raised its holdings in shares of Cencora, Inc. (NYSE:COR) by 9.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 10,389 shares of the company’s stock after purchasing an additional 901 shares during the period. Axxcess Wealth Management LLC’s holdings in Cencora were worth $2,338,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of COR. New Millennium Group LLC purchased a new position in Cencora during the second quarter valued at approximately $26,000. TCTC Holdings LLC bought a new position in shares of Cencora in the 1st quarter worth $29,000. TFO Wealth Partners LLC purchased a new stake in shares of Cencora during the 1st quarter worth $30,000. MFA Wealth Advisors LLC bought a new stake in Cencora during the second quarter valued at about $30,000. Finally, Concord Wealth Partners purchased a new position in Cencora in the third quarter valued at about $30,000. Institutional investors own 97.52% of the company’s stock.

Cencora Price Performance

Shares of NYSE COR opened at $249.09 on Tuesday. Cencora, Inc. has a 52 week low of $191.11 and a 52 week high of $251.52. The business’s 50 day moving average price is $231.95 and its 200 day moving average price is $230.74. The company has a quick ratio of 0.55, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. The firm has a market cap of $49.08 billion, a P/E ratio of 33.17, a P/E/G ratio of 1.61 and a beta of 0.44.

Cencora Increases Dividend

The firm also recently disclosed 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 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%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Barclays raised their target price on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Leerink Partners reduced their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Finally, UBS Group upped their target price on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $271.20.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction dated 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 sale, the chairman now directly owns 285,088 shares of the company’s stock, valued at approximately $67,223,750.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 15.80% of the stock is currently owned by corporate insiders.

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.