FORA Capital LLC Invests $1.63 Million in Cencora, Inc. (NYSE:COR)

FORA Capital LLC bought a new stake in shares of Cencora, Inc. (NYSE:COR) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 7,252 shares of the company’s stock, valued at approximately $1,632,000.

Other institutional investors have also recently added to or reduced their stakes in the company. New Millennium Group LLC purchased a new stake in shares of Cencora in the second quarter worth about $26,000. MFA Wealth Advisors LLC purchased a new position in Cencora in the 2nd quarter worth approximately $30,000. Concord Wealth Partners acquired a new stake in Cencora in the third quarter valued at approximately $30,000. LRI Investments LLC acquired a new stake in Cencora in the first quarter valued at approximately $31,000. Finally, SYSTM Wealth Solutions LLC purchased a new stake in shares of Cencora during the second quarter valued at approximately $36,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Trading Up 0.5 %

NYSE:COR opened at $249.70 on Thursday. Cencora, Inc. has a 12-month low of $195.83 and a 12-month high of $251.56. The firm has a market capitalization of $49.20 billion, a P/E ratio of 33.25, a P/E/G ratio of 1.63 and a beta of 0.44. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The business has a 50 day simple moving average of $233.98 and a 200 day simple moving average of $232.14.

Cencora Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.88%. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is currently 29.29%.

Wall Street Analyst Weigh In

COR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Leerink Partners lowered their price objective on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Bank of America reaffirmed a “neutral” rating and issued a $245.00 target price (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Finally, UBS Group raised their price target 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. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $271.20.

Insider Activity at Cencora

In other Cencora 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 transaction of $5,208,619.44. Following the sale, the chairman now owns 306,752 shares of the company’s stock, valued at $74,283,064.32. The trade was a 6.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 93,018 shares of company stock worth $22,478,942 in the last 90 days. 15.80% of the stock is currently owned by company 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.