Milestone Asset Management LLC Grows Stock Position in Cencora, Inc. (NYSE:COR)

Milestone Asset Management LLC raised its position in Cencora, Inc. (NYSE:COR) by 430.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,461 shares of the company’s stock after acquiring an additional 4,431 shares during the period. Milestone Asset Management LLC’s holdings in Cencora were worth $1,227,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Foster & Motley Inc. lifted its stake in shares of Cencora by 4.1% in the 4th quarter. Foster & Motley Inc. now owns 7,907 shares of the company’s stock worth $1,777,000 after acquiring an additional 314 shares during the period. Ibex Wealth Advisors acquired a new stake in shares of Cencora in the fourth quarter valued at about $279,000. Swedbank AB lifted its stake in shares of Cencora by 2.2% in the fourth quarter. Swedbank AB now owns 1,425,775 shares of the company’s stock valued at $320,343,000 after purchasing an additional 31,326 shares during the period. Forsta AP Fonden lifted its stake in shares of Cencora by 0.6% in the fourth quarter. Forsta AP Fonden now owns 69,670 shares of the company’s stock valued at $15,653,000 after purchasing an additional 400 shares during the period. Finally, Asset Dedication LLC lifted its stake in shares of Cencora by 682.2% in the fourth quarter. Asset Dedication LLC now owns 352 shares of the company’s stock valued at $79,000 after purchasing an additional 307 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Activity at Cencora

In other Cencora news, EVP Silvana Battaglia sold 1,678 shares of the business’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 directly owns 20,329 shares in the company, valued at $4,649,648.88. The trade was a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was 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. This represents a 13.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 73,187 shares of company stock worth $17,790,912. 15.80% of the stock is owned by company insiders.

Cencora Price Performance

Cencora stock opened at $256.45 on Thursday. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $257.79. The firm has a 50 day moving average price of $238.30 and a 200 day moving average price of $235.44. The company has a market cap of $49.57 billion, a price-to-earnings ratio of 34.15, a PEG ratio of 1.54 and a beta of 0.49. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88.

Cencora Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.86%. This is an increase from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, November 15th. Cencora’s payout ratio is presently 29.29%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on COR. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Mizuho began coverage on shares of Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research note on Wednesday. UBS Group lifted 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. Finally, Robert W. Baird lifted 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. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and an average target price of $278.40.

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.