12,603 Shares in Cencora, Inc. (NYSE:COR) Bought by Edge Capital Group LLC

Edge Capital Group LLC acquired a new position in shares of Cencora, Inc. (NYSE:COR) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 12,603 shares of the company’s stock, valued at approximately $2,832,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. JFS Wealth Advisors LLC grew its holdings in Cencora by 63.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 46 shares during the period. Concord Wealth Partners purchased a new position in Cencora during the third quarter worth approximately $30,000. Householder Group Estate & Retirement Specialist LLC raised its position in Cencora by 85.2% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock valued at $33,000 after purchasing an additional 69 shares during the period. Kentucky Trust Co purchased a new stake in Cencora in the fourth quarter valued at $33,000. Finally, WASHINGTON TRUST Co raised its position in Cencora by 37.7% in the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock valued at $38,000 after purchasing an additional 46 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Stock Performance

COR opened at $241.47 on Monday. The company has a market capitalization of $46.83 billion, a price-to-earnings ratio of 34.35, a price-to-earnings-growth ratio of 1.31 and a beta of 0.49. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $262.26. The business has a 50 day moving average price of $239.52 and a two-hundred day moving average price of $237.42.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 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%. Research analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Friday, February 14th. Cencora’s dividend payout ratio (DPR) is 31.29%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on COR. 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. Mizuho initiated coverage on Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective for the company. UBS Group boosted their target price on 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 objective on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company upped their price objective on Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $277.90.

Insider Activity at Cencora

In other news, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the sale, the executive vice president now owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This trade represents a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 10.80% of the stock is owned by corporate insiders.

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.