MGB Wealth Management LLC Purchases 124 Shares of Cencora, Inc. (NYSE:COR)

MGB Wealth Management LLC raised its position in Cencora, Inc. (NYSE:COR) by 2.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,759 shares of the company’s stock after purchasing an additional 124 shares during the quarter. MGB Wealth Management LLC’s holdings in Cencora were worth $1,069,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in COR. Retirement Guys Formula LLC boosted its holdings in shares of Cencora by 3.5% in the 4th quarter. Retirement Guys Formula LLC now owns 6,192 shares of the company’s stock worth $1,391,000 after acquiring an additional 210 shares in the last quarter. Kentucky Trust Co bought a new position in Cencora in the 4th quarter valued at $33,000. Certuity LLC acquired a new position in Cencora in the fourth quarter worth $295,000. Schear Investment Advisers LLC boosted its stake in Cencora by 2.5% in the fourth quarter. Schear Investment Advisers LLC now owns 6,241 shares of the company’s stock worth $1,402,000 after purchasing an additional 153 shares in the last quarter. Finally, Portfolio Design Labs LLC grew its holdings in shares of Cencora by 76.9% during the fourth quarter. Portfolio Design Labs LLC now owns 11,032 shares of the company’s stock worth $2,479,000 after purchasing an additional 4,794 shares during the last quarter. 97.52% of the stock is owned by institutional investors.

Insider Activity at Cencora

In related news, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the sale, the executive vice president now owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This trade represents a 7.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Steven H. Collis sold 50,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $243.97, for a total value of $12,198,500.00. Following the completion of the transaction, the chairman now directly owns 326,557 shares of the company’s stock, valued at approximately $79,670,111.29. The trade was a 13.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,187 shares of company stock worth $17,790,912. 10.80% of the stock is currently owned by company insiders.

Cencora Stock Performance

Shares of Cencora stock opened at $243.55 on Thursday. The firm has a fifty day moving average of $238.70 and a two-hundred day moving average of $237.21. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.53 and a current ratio of 0.92. The stock has a market capitalization of $47.07 billion, a price-to-earnings ratio of 34.64, a PEG ratio of 1.49 and a beta of 0.49. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $262.26.

Cencora (NYSE:COR) last released its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, beating the consensus estimate 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 EPS for the current year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Friday, February 14th. Cencora’s payout ratio is 31.29%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on COR shares. Wells Fargo & Company lifted their price target on Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. Mizuho started coverage on shares of Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price for the company. UBS Group increased 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 boosted their price objective 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. Finally, JPMorgan Chase & Co. increased their price objective on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $277.90.

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.