Moran Wealth Management LLC Has $17.32 Million Stock Position in Cencora, Inc. (NYSE:COR)

Moran Wealth Management LLC boosted its holdings in Cencora, Inc. (NYSE:COR) by 0.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 77,074 shares of the company’s stock after acquiring an additional 584 shares during the quarter. Moran Wealth Management LLC’s holdings in Cencora were worth $17,317,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COR. Pacer Advisors Inc. grew its holdings in shares of Cencora by 6,855.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after purchasing an additional 2,035,679 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Cencora in the fourth quarter valued at approximately $322,460,000. Wellington Management Group LLP grew its stake in shares of Cencora by 7.0% during the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock worth $1,168,927,000 after buying an additional 338,452 shares during the last quarter. Amundi increased its holdings in shares of Cencora by 30.8% during the fourth quarter. Amundi now owns 1,338,710 shares of the company’s stock worth $318,385,000 after buying an additional 314,846 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of Cencora by 40.2% in the 4th quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock valued at $243,173,000 after acquiring an additional 308,773 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

Cencora Price Performance

COR stock opened at $254.54 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The company’s fifty day simple moving average is $244.34 and its 200 day simple moving average is $238.39. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $262.26. The firm has a market cap of $49.36 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 1.31 and a beta of 0.51.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. On average, analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s dividend payout ratio (DPR) is 31.29%.

Insider Activity

In other Cencora news, EVP Silvana Battaglia sold 5,000 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $242.24, for a total value of $1,211,200.00. Following the completion of the sale, the executive vice president now directly owns 15,374 shares in the company, valued at approximately $3,724,197.76. This trade represents a 24.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert P. Mauch sold 4,970 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $255.00, for a total transaction of $1,267,350.00. Following the transaction, the chief executive officer now owns 51,070 shares in the company, valued at $13,022,850. This represents a 8.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,648 shares of company stock worth $2,862,342 in the last quarter. 10.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on COR. Mizuho initiated coverage on Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Evercore ISI raised their price objective on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company boosted their target price on shares of Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Finally, StockNews.com downgraded shares of Cencora from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $277.90.

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.