SG Americas Securities LLC Acquires 37,651 Shares of Cencora, Inc. (NYSE:COR)

SG Americas Securities LLC increased its position in shares of Cencora, Inc. (NYSE:COR) by 90.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 79,413 shares of the company’s stock after purchasing an additional 37,651 shares during the quarter. SG Americas Securities LLC’s holdings in Cencora were worth $17,843,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Thrivent Financial for Lutherans boosted its stake in Cencora by 176.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 86,007 shares of the company’s stock worth $19,377,000 after purchasing an additional 54,949 shares during the period. ProShare Advisors LLC lifted its stake in shares of Cencora by 5.6% in the 2nd quarter. ProShare Advisors LLC now owns 36,869 shares of the company’s stock valued at $8,307,000 after acquiring an additional 1,960 shares during the last quarter. Frank Rimerman Advisors LLC boosted its position in Cencora by 10,683.3% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 1,294 shares of the company’s stock valued at $292,000 after buying an additional 1,282 shares during the period. 1832 Asset Management L.P. increased its stake in shares of Cencora by 91,933.3% during the second quarter. 1832 Asset Management L.P. now owns 16,566 shares of the company’s stock valued at $3,732,000 after buying an additional 16,548 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in Cencora by 13.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,543 shares of the company’s stock worth $367,000 after buying an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on COR. Robert W. Baird boosted their price objective on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. UBS Group boosted their price objective on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Evercore ISI upped their price target on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company reduced their price target on Cencora from $249.00 to $237.00 and set an “equal weight” rating for the company in a research report on Friday, December 13th. Finally, Leerink Partners cut their target price on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $275.60.

Insider Buying and Selling at Cencora

In other news, EVP Silvana Battaglia sold 1,678 shares of the 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 completion of the transaction, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This represents a 7.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 of the company’s stock, valued at approximately $79,670,111.29. The trade was a 13.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,187 shares of company stock valued at $17,790,912 in the last three months. 15.80% of the stock is owned by corporate insiders.

Cencora Stock Performance

Shares of NYSE:COR opened at $247.12 on Thursday. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $253.27. The firm has a market capitalization of $47.76 billion, a PE ratio of 32.91, a P/E/G ratio of 1.51 and a beta of 0.49. The business’s 50 day moving average price is $237.26 and its 200-day moving average price is $234.40. 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.89%. This is a boost from Cencora’s previous quarterly dividend of $0.51. 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.