Park Avenue Securities LLC Raises Stock Holdings in Cencora, Inc. (NYSE:COR)

Park Avenue Securities LLC boosted its holdings in Cencora, Inc. (NYSE:COR) by 37.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,690 shares of the company’s stock after purchasing an additional 3,156 shares during the period. Park Avenue Securities LLC’s holdings in Cencora were worth $2,627,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. State Street Corp lifted its stake in Cencora by 3.8% in the third quarter. State Street Corp now owns 8,045,896 shares of the company’s stock valued at $1,810,970,000 after purchasing an additional 291,867 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Cencora by 7.0% in the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after buying an additional 338,452 shares during the period. Geode Capital Management LLC lifted its position in shares of Cencora by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock valued at $941,183,000 after buying an additional 189,054 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Cencora by 6,855.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after buying an additional 2,035,679 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Cencora by 3.7% during the 2nd quarter. Legal & General Group Plc now owns 1,875,445 shares of the company’s stock worth $422,538,000 after acquiring an additional 67,287 shares during the period. Institutional investors own 97.52% of the company’s stock.

Cencora Price Performance

Shares of NYSE COR opened at $242.11 on Friday. The stock’s 50-day simple moving average is $237.52 and its two-hundred day simple moving average is $233.85. The firm has a market capitalization of $46.80 billion, a P/E ratio of 32.24, a P/E/G ratio of 1.48 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. Cencora, Inc. has a twelve month low of $214.77 and a twelve month high of $253.27.

Cencora Increases Dividend

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

Insider Transactions at Cencora

In related news, EVP Silvana Battaglia sold 1,678 shares of the business’s 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 sale, the executive vice president now owns 20,329 shares in the company, valued at $4,649,648.88. The trade was a 7.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction that occurred on 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 transaction, the chairman now owns 306,752 shares in the company, valued at $74,283,064.32. The trade was a 6.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 94,696 shares of company stock worth $22,862,734. 15.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on COR. Mizuho initiated coverage on shares of Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective on the stock. UBS Group upped their price target on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Robert W. Baird raised their price objective on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company lowered their target price on shares of Cencora from $249.00 to $237.00 and set an “equal weight” rating on the stock in a report on Friday, December 13th. Finally, StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and an average target price of $275.60.

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.