Cencora, Inc. (NYSE:COR) Shares Purchased by Islay Capital Management LLC

Islay Capital Management LLC raised its stake in Cencora, Inc. (NYSE:COR) by 53.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,861 shares of the company’s stock after acquiring an additional 4,156 shares during the period. Cencora accounts for approximately 1.8% of Islay Capital Management LLC’s portfolio, making the stock its 13th largest position. Islay Capital Management LLC’s holdings in Cencora were worth $2,670,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in COR. TIAA Trust National Association acquired a new position in Cencora in the 1st quarter valued at $506,000. Osaic Holdings Inc. acquired a new position in shares of Cencora during the first quarter worth about $9,962,000. Jacobi Capital Management LLC purchased a new position in Cencora during the first quarter worth about $432,000. Covestor Ltd acquired a new stake in Cencora in the first quarter valued at about $55,000. Finally, Trustmark National Bank Trust Department purchased a new stake in Cencora in the 1st quarter valued at approximately $1,342,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Trading Down 1.3 %

Shares of NYSE COR opened at $240.24 on Monday. The company has a market cap of $47.34 billion, a price-to-earnings ratio of 31.99, a price-to-earnings-growth ratio of 1.60 and a beta of 0.44. The stock’s 50 day simple moving average is $232.62 and its 200 day simple moving average is $231.03. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. Cencora, Inc. has a 12-month low of $194.23 and a 12-month high of $251.56.

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.55 dividend. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 0.92%. The ex-dividend date is Friday, November 15th. Cencora’s dividend payout ratio (DPR) is currently 27.16%.

Insider Buying and Selling at Cencora

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the transaction, the chairman now owns 285,088 shares of the company’s stock, valued at approximately $67,223,750.40. This trade represents a 7.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

COR has been the topic of a number of analyst reports. UBS Group lifted their price target on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Bank of America reiterated a “neutral” rating and issued a $245.00 price target (down previously from $275.00) on shares of Cencora in a report on Wednesday, September 18th. 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 report on Thursday, November 7th. Finally, Leerink Partners lowered their target price on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $271.20.

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.