Gateway Investment Advisers LLC Acquires 4,555 Shares of Cencora, Inc. (NYSE:COR)

Gateway Investment Advisers LLC increased its holdings in Cencora, Inc. (NYSE:COR) by 103.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,943 shares of the company’s stock after purchasing an additional 4,555 shares during the period. Gateway Investment Advisers LLC’s holdings in Cencora were worth $2,009,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Insight Wealth Strategies LLC boosted its stake in Cencora by 124.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 20,249 shares of the company’s stock worth $4,549,000 after buying an additional 11,232 shares during the period. Cerity Partners LLC boosted its stake in Cencora by 10.1% during the third quarter. Cerity Partners LLC now owns 39,457 shares of the company’s stock worth $8,881,000 after buying an additional 3,610 shares during the period. Portfolio Design Labs LLC purchased a new position in Cencora during the third quarter worth $1,404,000. Mackenzie Financial Corp boosted its stake in Cencora by 9.9% during the second quarter. Mackenzie Financial Corp now owns 81,001 shares of the company’s stock worth $18,250,000 after buying an additional 7,266 shares during the period. Finally, Nordea Investment Management AB boosted its stake in Cencora by 40.2% during the fourth quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock worth $243,173,000 after buying an additional 308,773 shares during the period. Institutional investors own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

COR has been the subject of several recent analyst reports. Mizuho initiated coverage on shares of Cencora in a research note on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective for the company. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Wells Fargo & Company lowered their target price on shares of Cencora from $249.00 to $237.00 and set an “equal weight” rating for the company in a research note on Friday, December 13th. Leerink Partners lowered their target price on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Finally, Barclays boosted their target price on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $275.60.

Cencora Stock Up 0.5 %

NYSE:COR opened at $242.11 on Friday. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $253.27. The company has a 50-day moving average of $237.52 and a 200 day moving average of $233.85. The firm has a market cap of $46.80 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 1.48 and a beta of 0.49. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53.

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.55 dividend. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Friday, November 15th. Cencora’s dividend payout ratio (DPR) is currently 29.29%.

Insider Activity

In other news, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $228.72, for a total value of $383,792.16. Following the sale, the executive vice president now directly owns 20,329 shares in the company, valued at approximately $4,649,648.88. This trade represents a 7.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the completion of the sale, the chairman now owns 306,752 shares in the company, valued at $74,283,064.32. This represents a 6.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 94,696 shares of company stock worth $22,862,734. Corporate insiders own 15.80% of the company’s stock.

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.