Kestra Investment Management LLC Increases Stock Holdings in Cencora, Inc. (NYSE:COR)

Kestra Investment Management LLC increased its holdings in shares of Cencora, Inc. (NYSE:COR) by 39.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,354 shares of the company’s stock after buying an additional 660 shares during the quarter. Kestra Investment Management LLC’s holdings in Cencora were worth $530,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Lake Street Advisors Group LLC lifted its holdings in Cencora by 1.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock worth $769,000 after buying an additional 43 shares in the last quarter. Financial Advocates Investment Management lifted its stake in shares of Cencora by 4.7% in the second quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock worth $220,000 after acquiring an additional 44 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in Cencora by 1.0% in the third quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock valued at $1,001,000 after purchasing an additional 46 shares during the last quarter. Prime Capital Investment Advisors LLC grew its stake in Cencora by 1.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock valued at $848,000 after purchasing an additional 46 shares in the last quarter. Finally, Checchi Capital Advisers LLC increased its holdings in Cencora by 2.2% during the 2nd quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock worth $499,000 after purchasing an additional 48 shares during the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the sale, the chairman now owns 306,752 shares of the company’s stock, valued at approximately $74,283,064.32. The trade was a 6.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 93,018 shares of company stock worth $22,478,942 in the last ninety days. 15.80% of the stock is owned by insiders.

Cencora Trading Up 0.7 %

Shares of NYSE COR opened at $251.55 on Monday. Cencora, Inc. has a 12-month low of $195.83 and a 12-month high of $253.27. The company has a market cap of $49.57 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 1.67 and a beta of 0.44. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. The stock’s 50 day simple moving average is $234.91 and its 200 day simple moving average is $232.61.

Cencora Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Friday, November 15th. This is a boost from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio (DPR) is 29.29%.

Wall Street Analyst Weigh In

Several research firms have recently commented on COR. Robert W. Baird increased their target price on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. UBS Group raised their price objective on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Leerink Partners cut their target price on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Bank of America reiterated a “neutral” rating and issued a $245.00 price target (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Finally, StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Three research 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, the company has a consensus rating of “Moderate Buy” and a consensus 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.