MGB Wealth Management LLC Acquires 735 Shares of Cencora, Inc. (NYSE:COR)

MGB Wealth Management LLC lifted its holdings in shares of Cencora, Inc. (NYSE:COR) by 18.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,635 shares of the company’s stock after purchasing an additional 735 shares during the period. MGB Wealth Management LLC’s holdings in Cencora were worth $1,043,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Cerity Partners LLC boosted its position in Cencora by 10.1% during the 3rd quarter. Cerity Partners LLC now owns 39,457 shares of the company’s stock valued at $8,881,000 after buying an additional 3,610 shares during the period. Nicolet Advisory Services LLC boosted its position in Cencora by 3.0% during the 3rd quarter. Nicolet Advisory Services LLC now owns 2,647 shares of the company’s stock valued at $585,000 after buying an additional 78 shares during the period. Camden National Bank purchased a new stake in Cencora during the 3rd quarter valued at $344,000. Meridian Wealth Management LLC purchased a new stake in Cencora during the 3rd quarter valued at $375,000. Finally, Raymond James Trust N.A. boosted its position in Cencora by 1.3% during the 3rd quarter. Raymond James Trust N.A. now owns 3,925 shares of the company’s stock valued at $883,000 after buying an additional 52 shares during the period. Institutional investors own 97.52% of the company’s stock.

Insider Activity

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

Cencora Stock Down 0.3 %

Shares of NYSE:COR opened at $245.02 on Friday. 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 $233.22 and a two-hundred day simple moving average of $231.62. Cencora, Inc. has a 12-month low of $195.83 and a 12-month high of $251.56. The stock has a market capitalization of $48.28 billion, a price-to-earnings ratio of 32.63, a PEG ratio of 1.63 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 issued a dividend of $0.55 per share. The ex-dividend date is Friday, November 15th. This is an increase from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 0.90%. Cencora’s dividend payout ratio (DPR) is presently 29.29%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on COR shares. StockNews.com cut shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Robert W. Baird raised their target price on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. UBS Group raised their target price on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Leerink Partners dropped their target price on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Finally, Barclays raised their target price on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $271.20.

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.