Occidental Asset Management LLC Boosts Stake in Cencora, Inc. (NYSE:COR)

Occidental Asset Management LLC increased its holdings in shares of Cencora, Inc. (NYSE:COR) by 7.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,473 shares of the company’s stock after purchasing an additional 1,280 shares during the quarter. Occidental Asset Management LLC’s holdings in Cencora were worth $3,926,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Concord Wealth Partners acquired a new stake in shares of Cencora during the third quarter valued at about $30,000. SYSTM Wealth Solutions LLC acquired a new position in Cencora during the second quarter worth $36,000. Ashton Thomas Securities LLC purchased a new position in shares of Cencora during the third quarter worth $41,000. Fairscale Capital LLC acquired a new stake in shares of Cencora in the second quarter valued at $54,000. Finally, Modus Advisors LLC acquired a new position in Cencora during the 4th quarter worth about $54,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COR has been the topic of several research reports. StockNews.com cut shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Mizuho began coverage on shares of Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target for the company. Wells Fargo & Company reduced their price objective on Cencora from $249.00 to $237.00 and set an “equal weight” rating on the stock in a research note on Friday, December 13th. Robert W. Baird boosted their target price on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Barclays lifted their price objective on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $275.60.

Insider Transactions at Cencora

In other Cencora news, EVP Silvana Battaglia sold 1,678 shares of the business’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 owns 20,329 shares in the company, valued at approximately $4,649,648.88. The trade was a 7.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the transaction, the chairman now owns 285,088 shares of the company’s stock, valued at approximately $67,223,750.40. This represents a 7.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 94,696 shares of company stock worth $22,862,734. Company insiders own 15.80% of the company’s stock.

Cencora Stock Performance

Shares of Cencora stock opened at $240.51 on Friday. The stock has a market capitalization of $46.49 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 1.48 and a beta of 0.49. The firm’s fifty day simple moving average is $237.65 and its 200-day simple moving average is $233.72. 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 12 month low of $214.77 and a 12 month high of $253.27.

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders 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 0.91%. This is a boost 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 presently 29.29%.

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.