Avanza Fonder AB Purchases New Holdings in Cencora, Inc. (NYSE:COR)

Avanza Fonder AB purchased a new position in shares of Cencora, Inc. (NYSE:COR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 22,076 shares of the company’s stock, valued at approximately $4,960,000.

A number of other large investors have also added to or reduced their stakes in the business. Insight Wealth Strategies LLC lifted its stake in shares of Cencora by 124.6% during the 4th quarter. Insight Wealth Strategies LLC now owns 20,249 shares of the company’s stock worth $4,549,000 after buying an additional 11,232 shares during the last quarter. Cerity Partners LLC increased its position in shares of Cencora by 10.1% in the third quarter. Cerity Partners LLC now owns 39,457 shares of the company’s stock worth $8,881,000 after purchasing an additional 3,610 shares during the period. Portfolio Design Labs LLC acquired a new position in shares of Cencora in the 3rd quarter valued at approximately $1,404,000. Mackenzie Financial Corp lifted its stake in Cencora by 9.9% during the second quarter. Mackenzie Financial Corp now owns 81,001 shares of the company’s stock worth $18,250,000 after purchasing an additional 7,266 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Cencora by 40.2% during the 4th quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock worth $243,173,000 after buying an additional 308,773 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

Insider Activity at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total value of $5,071,822.20. Following the sale, the chairman now directly owns 285,088 shares in the company, valued at approximately $67,223,750.40. This represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the transaction, the executive vice president now directly owns 20,329 shares in the company, valued at approximately $4,649,648.88. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,696 shares of company stock valued at $22,862,734. 15.80% of the stock is owned by company insiders.

Cencora Stock Down 0.6 %

Cencora stock opened at $239.41 on Friday. The stock has a fifty day moving average of $237.65 and a 200 day moving average of $233.72. The stock has a market cap of $46.27 billion, a PE ratio of 31.88, a price-to-earnings-growth ratio of 1.48 and a beta of 0.49. Cencora, Inc. has a one year low of $214.77 and a one year high of $253.27. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88.

Cencora Increases Dividend

The company also recently announced 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 annualized dividend and a yield of 0.92%. This is a positive change from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, November 15th. Cencora’s dividend payout ratio is currently 29.29%.

Wall Street Analysts Forecast Growth

COR has been the topic of a number of research reports. UBS Group boosted their price objective on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Leerink Partners reduced their target price on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Evercore ISI upped their price objective on shares of Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Robert W. Baird increased their price target on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Mizuho assumed coverage on Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target on the stock. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.60.

Cencora Company 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.