Howe & Rusling Inc. Acquires 66 Shares of Cencora, Inc. (NYSE:COR)

Howe & Rusling Inc. boosted its stake in shares of Cencora, Inc. (NYSE:COR) by 0.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 20,162 shares of the company’s stock after purchasing an additional 66 shares during the period. Howe & Rusling Inc.’s holdings in Cencora were worth $4,538,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Lake Street Advisors Group LLC increased its stake in shares of Cencora by 1.3% in the third quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock worth $769,000 after purchasing an additional 43 shares in the last quarter. Financial Advocates Investment Management grew its holdings in shares of Cencora by 4.7% in the second quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock worth $220,000 after purchasing an additional 44 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in Cencora by 1.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock worth $1,001,000 after acquiring an additional 46 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its holdings in Cencora by 1.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock worth $848,000 after buying an additional 46 shares during the period. Finally, Checchi Capital Advisers LLC grew its position in shares of Cencora by 2.2% in the 2nd quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock worth $499,000 after buying an additional 48 shares during the last quarter. 97.52% of the stock is owned by institutional investors.

Cencora Stock Down 0.8 %

Shares of NYSE:COR opened at $240.97 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. The stock has a fifty day simple moving average of $232.75 and a two-hundred day simple moving average of $231.17. Cencora, Inc. has a 12-month low of $194.56 and a 12-month high of $251.56. The stock has a market capitalization of $47.48 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 1.60 and a beta of 0.44.

Cencora Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is currently 29.29%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Bank of America reaffirmed a “neutral” rating and issued a $245.00 price target (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Barclays lifted their target price on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased their price target on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Robert W. Baird lifted their price objective on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company upped their target price on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $271.20.

Insider Buying and Selling

In other news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the transaction, the chairman now directly owns 285,088 shares of the company’s stock, valued at $67,223,750.40. This represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 15.80% of the stock is currently owned by company insiders.

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.