Gateway Investment Advisers LLC Buys 4,555 Shares of Cencora, Inc. (NYSE:COR)

Gateway Investment Advisers LLC grew its holdings in shares of Cencora, Inc. (NYSE:COR) by 103.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,943 shares of the company’s stock after buying an additional 4,555 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Cencora were worth $2,009,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Concord Wealth Partners acquired a new position in shares of Cencora during the third quarter valued at about $30,000. SYSTM Wealth Solutions LLC acquired a new position in shares of Cencora during the second quarter valued at about $36,000. Ashton Thomas Securities LLC acquired a new position in shares of Cencora during the third quarter valued at about $41,000. Fairscale Capital LLC acquired a new position in shares of Cencora during the second quarter valued at about $54,000. Finally, Modus Advisors LLC acquired a new position in shares of Cencora during the fourth quarter valued at about $54,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COR has been the subject of a number of analyst reports. Leerink Partners reduced their price objective on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Mizuho assumed coverage on shares of Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target on the stock. Evercore ISI boosted their price target on shares of Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company cut their price target on shares of Cencora from $249.00 to $237.00 and set an “equal weight” rating on the stock in a report on Friday, December 13th. Finally, UBS Group boosted their price target on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Cencora has a consensus rating of “Moderate Buy” and a consensus price target of $275.60.

Cencora Price Performance

Shares of NYSE:COR opened at $242.11 on Friday. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $253.27. The company has a market capitalization of $46.80 billion, a P/E ratio of 32.24, a P/E/G ratio of 1.48 and a beta of 0.49. The firm’s 50 day simple moving average is $237.52 and its two-hundred day simple moving average is $233.85.

Cencora Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.91%. This is a boost from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio (DPR) is presently 29.29%.

Insider Activity

In other news, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction that occurred on Friday, December 20th. The shares were 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 in the company, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Steven H. Collis sold 50,000 shares of Cencora stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the sale, the chairman now owns 326,557 shares in the company, valued at approximately $79,670,111.29. The trade was a 13.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,696 shares of company stock worth $22,862,734 over the last quarter. Insiders own 15.80% of the company’s stock.

Cencora Profile

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.