Truvestments Capital LLC Makes New $86,000 Investment in Cencora, Inc. (NYSE:COR)

Truvestments Capital LLC bought a new position in Cencora, Inc. (NYSE:COR) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 382 shares of the company’s stock, valued at approximately $86,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BOKF NA purchased a new stake in Cencora in the 1st quarter valued at approximately $260,000. Kennedy Capital Management LLC purchased a new stake in shares of Cencora in the first quarter valued at approximately $705,000. Jacobs Levy Equity Management Inc. acquired a new position in Cencora during the first quarter worth $2,194,000. Ancora Advisors LLC acquired a new position in Cencora during the first quarter worth $867,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Cencora in the first quarter worth $411,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on COR shares. UBS Group upped their price target on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Barclays upped their target price on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Wells Fargo & Company lifted their price target on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Finally, Robert W. Baird raised their price objective on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $271.20.

Cencora Stock Up 1.7 %

Shares of NYSE:COR opened at $248.40 on Wednesday. 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 company has a market capitalization of $48.95 billion, a P/E ratio of 33.08, a P/E/G ratio of 1.63 and a beta of 0.44. Cencora, Inc. has a 52-week low of $195.83 and a 52-week high of $251.56. The stock’s fifty day simple moving average is $233.28 and its 200-day simple moving average is $231.85.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.89%. This is a positive change from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, November 15th. Cencora’s dividend payout ratio is 29.29%.

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 21,509 shares of the company’s 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 of the company’s stock, valued at approximately $74,283,064.32. This represents a 6.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 93,018 shares of company stock valued at $22,478,942 in the last ninety days. Insiders own 15.80% of the company’s stock.

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.