Miracle Mile Advisors LLC Purchases New Shares in Cencora, Inc. (NYSE:COR)

Miracle Mile Advisors LLC acquired a new position in shares of Cencora, Inc. (NYSE:COR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,217 shares of the company’s stock, valued at approximately $273,000.

Several other institutional investors have also recently made changes to their positions in COR. Lake Street Advisors Group LLC boosted its holdings in Cencora by 1.3% during 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 last quarter. Venturi Wealth Management LLC lifted its position 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 buying an additional 46 shares in the last quarter. Prime Capital Investment Advisors LLC boosted its stake in shares of Cencora by 1.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock worth $848,000 after buying an additional 46 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of Cencora by 1.3% in the third quarter. J.W. Cole Advisors Inc. now owns 3,669 shares of the company’s stock valued at $826,000 after acquiring an additional 48 shares in the last quarter. Finally, Impact Partnership Wealth LLC increased its position in shares of Cencora by 2.6% during the third quarter. Impact Partnership Wealth LLC now owns 2,042 shares of the company’s stock valued at $460,000 after acquiring an additional 51 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

Insider Activity

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was 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 $74,283,064.32. This trade represents a 6.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 20,329 shares in the company, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 94,696 shares of company stock worth $22,862,734 over the last ninety days. Company insiders own 15.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Mizuho began coverage on Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective for the company. 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 report on Thursday, November 7th. Leerink Partners decreased their price objective on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Evercore ISI boosted their target price on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company decreased their price target on shares of Cencora from $249.00 to $237.00 and set an “equal weight” rating for the company in a research note on Friday, December 13th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and an average price target of $275.60.

Cencora Trading Up 1.2 %

NYSE:COR opened at $240.51 on Friday. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $253.27. The stock’s fifty day moving average price is $237.65 and its two-hundred day moving average price is $233.72. 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 company has a market cap of $46.49 billion, a P/E ratio of 32.03, a P/E/G ratio of 1.48 and a beta of 0.49.

Cencora Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 annualized dividend and a yield of 0.91%. This is an increase from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio (DPR) is currently 29.29%.

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.