Citigroup Inc. increased its position in shares of Cencora, Inc. (NYSE:COR – Free Report) by 22.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 207,252 shares of the company’s stock after buying an additional 37,973 shares during the period. Citigroup Inc. owned about 0.10% of Cencora worth $39,882,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alliance Wealth Advisors LLC increased its stake in Cencora by 3.0% during the 2nd quarter. Alliance Wealth Advisors LLC now owns 1,941 shares of the company’s stock worth $374,000 after buying an additional 56 shares during the period. Contravisory Investment Management Inc. increased its stake in Cencora by 1.5% during the 2nd quarter. Contravisory Investment Management Inc. now owns 4,008 shares of the company’s stock worth $771,000 after buying an additional 58 shares during the period. Creative Financial Designs Inc. ADV increased its stake in Cencora by 50.9% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 175 shares of the company’s stock worth $34,000 after buying an additional 59 shares during the period. GPS Wealth Strategies Group LLC increased its stake in Cencora by 12.4% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 542 shares of the company’s stock worth $104,000 after buying an additional 60 shares during the period. Finally, Measured Wealth Private Client Group LLC increased its stake in Cencora by 3.1% during the 2nd quarter. Measured Wealth Private Client Group LLC now owns 2,025 shares of the company’s stock worth $390,000 after buying an additional 60 shares during the period. Hedge funds and other institutional investors own 93.12% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on COR. Evercore ISI boosted their target price on shares of Cencora from $210.00 to $225.00 in a research report on Wednesday, October 11th. TD Cowen boosted their target price on shares of Cencora from $205.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. Morgan Stanley boosted their target price on shares of Cencora from $176.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 3rd. TheStreet raised shares of Cencora from a “c” rating to a “b” rating in a research report on Monday, October 9th. Finally, StockNews.com began coverage on shares of Cencora in a research report on Sunday, October 1st. They issued a “strong-buy” rating for the company. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $196.08.
Get Our Latest Research Report on Cencora
Insider Buying and Selling at Cencora
In other Cencora news, CEO Steven H. Collis sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $197.63, for a total transaction of $4,940,750.00. Following the completion of the transaction, the chief executive officer now directly owns 331,573 shares of the company’s stock, valued at approximately $65,528,771.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Leslie E. Donato sold 3,387 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $197.60, for a total value of $669,271.20. Following the completion of the sale, the executive vice president now directly owns 11,919 shares of the company’s stock, valued at approximately $2,355,194.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Steven H. Collis sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $197.63, for a total transaction of $4,940,750.00. Following the completion of the sale, the chief executive officer now directly owns 331,573 shares of the company’s stock, valued at $65,528,771.99. The disclosure for this sale can be found here. Insiders sold 1,343,672 shares of company stock valued at $262,243,280 in the last ninety days. Company insiders own 1.40% of the company’s stock.
Cencora Trading Down 1.0 %
Cencora stock opened at $195.00 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.88 and a debt-to-equity ratio of 6.22. The firm has a 50-day moving average price of $186.83 and a two-hundred day moving average price of $181.24. The firm has a market capitalization of $39.43 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 1.68 and a beta of 0.53. Cencora, Inc. has a 52-week low of $147.48 and a 52-week high of $199.66.
Cencora Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Monday, November 13th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.05%. This is a positive change from Cencora’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, November 10th. Cencora’s payout ratio is presently 23.92%.
About Cencora
Cencora, Inc sources and distributes pharmaceutical products. Its 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.
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