DAVENPORT & Co LLC Boosts Holdings in Cencora, Inc. (NYSE:COR)

DAVENPORT & Co LLC grew its position in shares of Cencora, Inc. (NYSE:COR) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,509 shares of the company’s stock after purchasing an additional 120 shares during the period. DAVENPORT & Co LLC’s holdings in Cencora were worth $1,238,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Czech National Bank increased its stake in Cencora by 12.6% in the 3rd quarter. Czech National Bank now owns 35,536 shares of the company’s stock worth $7,998,000 after acquiring an additional 3,990 shares during the last quarter. Dynamic Advisor Solutions LLC increased its position in shares of Cencora by 15.2% in the third quarter. Dynamic Advisor Solutions LLC now owns 1,166 shares of the company’s stock worth $262,000 after purchasing an additional 154 shares during the last quarter. Tobam increased its position in shares of Cencora by 85.7% in the third quarter. Tobam now owns 25,030 shares of the company’s stock worth $5,634,000 after purchasing an additional 11,549 shares during the last quarter. LVW Advisors LLC raised its stake in Cencora by 14.2% in the third quarter. LVW Advisors LLC now owns 3,666 shares of the company’s stock valued at $825,000 after purchasing an additional 456 shares in the last quarter. Finally, Iowa State Bank bought a new stake in Cencora during the third quarter valued at approximately $1,390,000. Institutional investors own 97.52% of the company’s stock.

Cencora Stock Down 2.8 %

Shares of NYSE COR opened at $246.11 on Friday. The company has a market cap of $47.57 billion, a price-to-earnings ratio of 32.77, a PEG ratio of 1.59 and a beta of 0.49. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. The firm’s fifty day moving average is $239.08 and its 200 day moving average is $236.51. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $262.26.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 266.62% and a net margin of 0.51%. On average, equities research analysts expect that Cencora, Inc. will post 15.32 earnings per share for the current year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.20 annualized dividend and a yield of 0.89%. Cencora’s dividend payout ratio (DPR) is presently 29.29%.

Insider Activity

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chairman now owns 306,752 shares of the company’s stock, valued at approximately $74,283,064.32. This trade represents a 6.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Silvana Battaglia sold 1,678 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the sale, the executive vice president now owns 20,329 shares in the company, valued at approximately $4,649,648.88. This trade represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,187 shares of company stock valued at $17,790,912. Corporate insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on COR shares. Robert W. Baird upped their target price on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. UBS Group raised their price objective on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Barclays upped their target price on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Evercore ISI lifted their price target on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $277.90.

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.