Arvest Bank Trust Division Invests $218,000 in Cencora, Inc. (NYSE:COR)

Arvest Bank Trust Division purchased a new stake in Cencora, Inc. (NYSE:COR) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 968 shares of the company’s stock, valued at approximately $218,000.

Other large investors also recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC lifted its stake in Cencora by 9.4% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 1,012 shares of the company’s stock valued at $228,000 after buying an additional 87 shares in the last quarter. ORG Partners LLC acquired a new position in Cencora during the second quarter worth about $81,000. Blue Trust Inc. grew its stake in Cencora by 58.5% during the 2nd quarter. Blue Trust Inc. now owns 1,330 shares of the company’s stock valued at $323,000 after acquiring an additional 491 shares in the last quarter. Stanley Laman Group Ltd. raised its holdings in Cencora by 4.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 19,353 shares of the company’s stock valued at $4,360,000 after acquiring an additional 858 shares during the last quarter. Finally, 1858 Wealth Management LLC lifted its stake in Cencora by 10.7% in the 2nd quarter. 1858 Wealth Management LLC now owns 1,266 shares of the company’s stock worth $285,000 after purchasing an additional 122 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on COR shares. Leerink Partners dropped their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Evercore ISI raised their target price on Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Mizuho initiated coverage on Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Robert W. Baird boosted their target price on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Cencora has an average rating of “Moderate Buy” and an average price target of $276.80.

Cencora Price Performance

COR opened at $232.16 on Friday. The stock’s 50-day moving average price is $238.11 and its 200 day moving average price is $233.82. Cencora, Inc. has a 12-month low of $195.83 and a 12-month high of $253.27. The firm has a market cap of $44.87 billion, a price-to-earnings ratio of 30.91, a PEG ratio of 1.62 and a beta of 0.45. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84.

Cencora Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.55 dividend. This is a positive change from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date was Friday, November 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.95%. Cencora’s dividend payout ratio (DPR) is presently 29.29%.

Insider Activity at Cencora

In related news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total value of $5,208,619.44. Following the completion of the transaction, the chairman now directly owns 306,752 shares in the company, valued at approximately $74,283,064.32. This trade represents a 6.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders sold 93,018 shares of company stock worth $22,478,942. Corporate insiders own 15.80% of the company’s stock.

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.